UPDATE: Wunderlich Securities Lowers Price Target
According to Wunderlich Securities, Home Properties (NYSE: HME) price target is lowered to $68.
Wunderlich Securities said that Buy-rated Home Properties (HME) reported 4Q11 and 2011 EPS of $0.93 and $3.53, respectively, modestly ahead of its estimates and consensus. “Discounting net operating income using a 6% cap rate, we are lowering our price target from $75 to $68. HME shares are on our Best Ideas list.”
Home Properties closed on Friday at $60.50.
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