UPDATE: Stifel Nicolaus Downgrades MPG Office Trust to Sell on Tax Warning
Stifel Nicolaus downgraded its rating on MPG Office Trust (NYSE: MPG) from Hold to Sell.
Stifel Nicolaus noted, "Management warned of a potential 10.84% combined tax rate (8.84% CA franchise or capital gains and a 2% federal tax) could apply to any assets MPG may sell or return to the lender should California not reinstate the ability for companies to use Net Operating Loss Carry Forwards to offset taxable gains. This applies to most, but not all, possible transaction structures. Hence, our downgrade to Sell."
MPG Office Trust closed at $2.93 on Tuesday.
Latest Ratings for MPG
|Nov 2016||KeyBanc||Downgrades||Overweight||Sector Weight|
|Aug 2016||Deutsche Bank||Maintains||Hold|
|Jun 2016||RBC Capital||Downgrades||Outperform||Sector Perform|
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