UPDATE: MLV & Co Initiates Coverage on AmREIT on Quality at a Compelling Discount

In a report published Tuesday, MLV & Co analyst Paul Morgan initiated coverage on AmREIT AMRE with a Buy rating and $21.00 price target. In the report, MLV & Co noted, “AmREIT's ‘Irreplaceable Corner' shopping center investment strategy targets high-traffic, infill assets located in higher growth Sunbelt markets. At current valuations, we argue that AMRE offers retail REIT investors coastal quality portfolio demographics at a Sunbelt price, reflected in a 7% implied cap rate and nearly 5% dividend yield. "We favor management's focused investment strategy, including asset densifications as part of a redevelopment pipeline that should provide catalysts for valuation upside. We initiate coverage with a Buy rating and $21 price target.” AmREIT closed on Monday at $16.30.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorInitiationAnalyst RatingsMLV & CoPaul Morgan
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!