Keefe, Bruyette & Woods Lifts Estimates and Price Targes on Equity REITs Going Into 2012
CBL Hot Sheet
Rating Summary:4 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38
Keefe, Bruyette & Woods is raising its FFO and NAV estimates, as well as its price targets on companies within the retail sector as sales rose 3.5 percent in December and 4.7 percent over 2011. The firm believes sales will continue to trend strongly throughout 2012.
The firm reaffirmed its Underperform rating on shares of CBL & Associates Properties (NYSE: CBL), while raising its price target from $13 to $14. The firm also increased its FY11 EPS estimate from$ 1.85 to $2.16.
The firm reaffirmed its Market Perform rating on shares of Equity One Inc. (NYSE: EQY), while raising its price target from $16 to $17. The firm also increased its FY11 EPS estimate from $1.18 to $1.55.
The firm reaffirmed its Market Perform rating on shares of Federal Realty Investment Trust (NYSE: FRT), while lowering its Q4 and FY11 EPS estimates from $1.01 and $4.03 to $0.97 and $3.99. The firm maintained its $88 price target.
The firm reaffirmed its Market Perform rating on shares of General Growth Proerties Inc. (NYSE: GGP), while raising its price target from $13 to $14. The firm also increased its FY11 EPS estimate from $0.93 to $0.94.
The firm reaffirmed its Outperform rating on shares of Glimcher Realty Trust (NYSE: GRT), while raising lowering its FY11 EPS estimate from $0.46 to $0.62. The firm maintained its $11 price target.
The firm reaffirmed its Outperform rating on shares of Macerich Co. (NYSE: MAC), while raising its price target from $55 to $59.
The firm reaffirmed its Outperform rating on shares of Pennsylvania R.E.I.T. (NYSE: PEI), while raising its price target from $12 to $14. The firm also tweaked its Q4 and FY11 EPS estimates from $0.58 and $0.87 to $0.57 and $1.76.
The firm reaffirmed its Outperform rating and $13 price target on shares of Ramco-Gershenson Prop. (NYSE: RPT). The firm forecasts EPS of ($0.08) for Q4 and $0.66 for FY11.
The firm reaffirmed its Market Perform rating and $28 price target on shares of Tanger Factory Outlet Centers (NYSE: SKT). The firm forecasts EPS of $0.40 for Q4 and $1.43 for FY11.
The firm reaffirmed its Market Perform rating on shares of Simon Property Group (NYSE: SPG), while raising its price target from $124 to $130.
The firm reaffirmed its Market Perform rating on shares of Taubman Centers (NYSE: TCO), while raising its price target from $58 to $60. The firm also raised its Q4 and FY11 EPS estimates from $0.80 and $2.68 to $2.72 and $4.62.
The firm reaffirmed its Market Perform rating on shares of Weingarten Realty Investors (NYSE: WRI), while raising its price target from $22 to $24. The firm also increased its FY11 EPS estimate from $1.19 to $1.48.
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The firm reaffirmed its Underperform rating on shares of CBL & Associates Properties (NYSE: CBL), while raising its price target from $13 to $14. The firm also increased its FY11 EPS estimate from$ 1.85 to $2.16.
The firm reaffirmed its Market Perform rating on shares of Equity One Inc. (NYSE: EQY), while raising its price target from $16 to $17. The firm also increased its FY11 EPS estimate from $1.18 to $1.55.
The firm reaffirmed its Market Perform rating on shares of Federal Realty Investment Trust (NYSE: FRT), while lowering its Q4 and FY11 EPS estimates from $1.01 and $4.03 to $0.97 and $3.99. The firm maintained its $88 price target.
The firm reaffirmed its Market Perform rating on shares of General Growth Proerties Inc. (NYSE: GGP), while raising its price target from $13 to $14. The firm also increased its FY11 EPS estimate from $0.93 to $0.94.
The firm reaffirmed its Outperform rating on shares of Glimcher Realty Trust (NYSE: GRT), while raising lowering its FY11 EPS estimate from $0.46 to $0.62. The firm maintained its $11 price target.
The firm reaffirmed its Outperform rating on shares of Macerich Co. (NYSE: MAC), while raising its price target from $55 to $59.
The firm reaffirmed its Outperform rating on shares of Pennsylvania R.E.I.T. (NYSE: PEI), while raising its price target from $12 to $14. The firm also tweaked its Q4 and FY11 EPS estimates from $0.58 and $0.87 to $0.57 and $1.76.
The firm reaffirmed its Outperform rating and $13 price target on shares of Ramco-Gershenson Prop. (NYSE: RPT). The firm forecasts EPS of ($0.08) for Q4 and $0.66 for FY11.
The firm reaffirmed its Market Perform rating and $28 price target on shares of Tanger Factory Outlet Centers (NYSE: SKT). The firm forecasts EPS of $0.40 for Q4 and $1.43 for FY11.
The firm reaffirmed its Market Perform rating on shares of Simon Property Group (NYSE: SPG), while raising its price target from $124 to $130.
The firm reaffirmed its Market Perform rating on shares of Taubman Centers (NYSE: TCO), while raising its price target from $58 to $60. The firm also raised its Q4 and FY11 EPS estimates from $0.80 and $2.68 to $2.72 and $4.62.
The firm reaffirmed its Market Perform rating on shares of Weingarten Realty Investors (NYSE: WRI), while raising its price target from $22 to $24. The firm also increased its FY11 EPS estimate from $1.19 to $1.48.
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