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6 REITs DA Davidson Is Watching

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6 REITs DA Davidson Is Watching
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In a series of research notes released this Friday, analysts at DA Davidson initiated coverage on several real estate investment trusts (REITs). Here’s a breakdown of what they had to say about each name.

Monmouth Real Estate Investment Corp (NYSE: MNR)

Analysts are predicting about 10 percent earnings growth over the next two years. They see very little opportunity for internal earnings growth, and their 10 percent growth estimate assumes that the company will execute its acquisition strategy.

DA Davidson set a Neutral rating on the REIT and a price target of $12.

Duke Realty Corp (NYSE: DRE)

Analysts believe that Duke’s high valuation relative to REIT peers is deserved, but the high price tag does limit potential upside from current levels. In light of the REIT’s flat growth rate and high valuation, it’s hard for analysts to be excited about it at the moment.

Related Link: Susquehanna Is Chatting About Single-Family REIT Activity

DA Davidson set a Neutral rating on the REIT and a price target of $23.

Chambers Street Properties (NYSE: CSG)

Analysts love the REIT’s 11.2X multiple compared to the overall 17.3X multiple of the group. DA Davidson set a Buy rating on the REIT and a price target of $9.

Terreno Realty Corp (NYSE: TRNO)

Analysts like the REIT’s acquisition plan for the next two years and believe that it could generate annual earnings growth of up to 20 percent during that span. DA Davidson set a Buy rating on the REIT and a price target of $27.

Stag Industrial Inc (NYSE: STAG)

Analysts worry that Stag’s exposure to long-term leases at single-tenant buildings could put the REIT at a disadvantage when interest rates start to rise. DA Davidson set a Neutral rating on the REIT and a price target of $25.

Rexford Industrial Realty Inc (NYSE: REXR)

Analysts like that Rexford is trading at a discount to NAV and believe that it can grow earnings at a 10 percent annual rate over the next two years. DA Davidson set a Buy rating on the REIT and a price target of $20.

Latest Ratings for MNR

DateFirmActionFromTo
Dec 2016DA DavidsonMaintainsNeutral
Jul 2016Janney CapitalInitiates Coverage onBuy
Aug 2015BMO CapitalMaintainsOutperform

View More Analyst Ratings for MNR
View the Latest Analyst Ratings

Posted-In: Analyst Color Long Ideas REIT Price Target Initiation Analyst Ratings Trading Ideas Real Estate Best of Benzinga

 

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