Market Overview

UPDATE: Miller Tabak Raises PT to $71.94 on Home Properties on Portfolio Advantages

Share:
Related HME
Morgan Stanley Directs Multifamily Apartment REITs To Center Stage
Citi Weighs In On REIT Sector M&A Trends: Is Simon/Macerich Just The Start?

Miller Tabak reiterated its rating on Home Properties (NYSE: HME) and increased its price target from $70.31 to $71.94.

Miller Tabak noted, "Home Properties has one of the most concentrated footprints of any apartment REIT, and that concentration in the Boston-Richmond corridor corresponds with some of the best rent vs. own economic match-ups in the US. Put differently, HME has a higher proportion of lower rent properties than most other apartment REITs, but those properties are generally in markets where switching to home ownership from renting entails significantly greater costs than in most US markets. Consequently, we see HME's lower rent niche as having some distinct advantages vs. apartment REITs concentrating on more upscale properties.

Home Properties closed at $61.08 on Friday.

Latest Ratings for HME

DateFirmActionFromTo
May 2015CitigroupMaintainsNeutral
Apr 2015BarclaysMaintainsEqualweight
Apr 2015Janney CapitalInitiates Coverage onBuy

View More Analyst Ratings for HME
View the Latest Analyst Ratings

Posted-In: Miller TabakAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (HME)

Around the Web, We're Loving...

Get Benzinga's Newsletters