Deutsche Bank Maintains Hold on Brookfield Properties
Deutsche Bank is out with its report today on Brookfield Properties (NYSE: BPO), maintaining Hold.
In its report, Deutsche Bank writes, "BPO hosted a well-attended investor day that focused almost exclusively on its dev't pipeline. The company is working on 5 potential projects totaling about $7.2B of costs with stabilized yields of about 8% and unlevered IRR's of about 11-13%. In total, BPO sees about 27c/sh of annual FFO accretion from these projects. While the add'l clarity is a positive, there was little in today's presentation that changes our outlook for BPO."
Deutsche Bank maintains an $18 PT on BPO.
At the time of posting, shares of BPO were trading at $15.13, up 2.93% from Monday's close.
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