Market Overview

UPDATE: Compass Point Downgrades Home Properties to Neutral on NAV Outlook

Related HME
The Top REITs That Mutual Funds Are Buying And Selling
4 REITs Miller Tabak Is No Longer Selling

Compass Point cut its rating on Home Properties (NYSE: HME) from Buy to Neutral but raised its price target from $68.50 to $71.

Compass Point commented, "We continue to favor HME's portfolio of B assets in A markets, but the outperformance of the stock relative to peers in 2012 combined with the deceleration of growth in the sector for at least the balance of 2H12 dampens our enthusiasm for HME's stock price going forward. Our new $71 price target represents 20% upside from the comapany's increased $59 NAV, and a healthy 13% upside from the current stock price, but we see limited potential for NAV upside from here unless the company's implied 50 bps spread over market cap rates in its portoflio narrows."

Home Properties closed at $64.93 on Monday.

Latest Ratings for HME

Jun 2015Morgan StanleyUpgradesUnderweightEqual-Weight
Jun 2015RBC CapitalUpgradesUnderperformSector Perform
Jun 2015Cowen & Co.Initiates Coverage onMarket Perform

View More Analyst Ratings for HME
View the Latest Analyst Ratings

Posted-In: Compass PointAnalyst Color Downgrades Intraday Update Analyst Ratings


Related Articles (HME)

View Comments and Join the Discussion!

Partner Center