Loading...
Loading...
ISI Group maintains its Buy rating on Home Properties
HME and increases its price target by $1 to $67 as the company beats estimates and guides better than expected.
ISI notes, "HME's beat was driven by both better results on revenues and expenses. 2012 FFO/sh guidance at the midpoint was $3.87 within a range of $3.79 to $3.95 which compares favorably to our previous estimate of $3.86 and the Street at $3.84. 4Q SS NOI growth came in at 7.6% vs. the group average of 8.4%, not surprising given the company's “renter by necessity” profile and class B/C asset mix. Based on the stronger Q4 results, we are raising our 2012 FFO estimate to $3.92."
HME closed at $60.12 a share on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in