Morgan Keegan has downgraded Home Properties HME from Outperform to Market Perform and has lowered the price target from $65 to $60 in a research report out today.
In the report, Morgan Keegan states, "We are downgrading HME shares from an Outperform to a Market Perform rating, reflecting the company's large exposure to the mid-Atlantic, which faces increasing risks, in our view. In addition, we are concerned that HME's average renter may have greater difficulty absorbing continued rent increases."
Shares of HME are trading at $56.20, down 1.94% from yesterday's close.
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