Barclays Raises Numbers on Home Properties (HME); Revenue Growth Still Lagging Peers

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Barclays maintains an 'Equalweight' on Home Properties (NYSE: HME) price target raised from $65 to $67.

Analyst, Ross L. Smotrich, complemented HME, saying the 2.8% reduction in operating expenses was the best Barclays analysts have seen from any apartment company this earnings season. Spreads have been up and down, but Smotrich feels that Home Properties navigates well in its niche. Longer-term, shares should outperform, considering the upcoming supply in Washington D.C/ and Baltimore.

Smotrich raises FY12 FFO from $3.92 to $3.98 and FY13 from $4.15 to $4.28.

For an analyst ratings summary and ratings history on Home Properties click here. For more ratings news on Home Properties click here.

Shares of Home Properties closed at $61.27 yesterday, with a 52 week range of $52.11-$67.27.

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