UPDATE: Compass Point Upgrades Home Properties on Attractive Risk/Reward
Compass Point raised its rating on Home Properties (NYSE: HME) from Sector Perform to Underperform.
Compass Point commented, "In a decelerating earnings environment that will face tougher comps in 2013, HME should be insulated from pressure on rental rates from both new supply and single-family homebuying pressures. Our slightly increased price target represents a 21% total return from current levels after factoring in the 4% dividend yield, and represents the highest risk-adjusted total return in our apartment REIT coverage universe. The addition of $1 to our price target plus the 5% selloff in the stock since our early August downgrade equates to 21% total return potential from current levels, up from 13% just a few months ago."
Home Properties closed at $61.54 on Monday.
Latest Ratings for HME
|Jun 2015||Morgan Stanley||Upgrades||Underweight||Equalweight|
|Jun 2015||RBC Capital||Upgrades||Underperform||Sector Perform|
|Jun 2015||Cowen & Company||Initiates Coverage on||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.