Keefe, Bruyette & Woods Upgrades Colonial Properties Trust (CLP) to Outperform
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Keefe, Bruyette & Woods upgrades Colonial Properties Trust (NYSE: CLP) from Market Perform to Outperform. Price target increased to $7.
Keefe analyst says, "CLP continues to face some challenges, in terms of its markets, disposition program, and remaining for-sale activity. However, given the current valuation of the shares, and CLP's large unencumbered pool, we believe CLP has far more options to survive than most other REITs that are being priced at distressed levels."
Colonial Properties Trust (Colonial) is a multifamily real estate investment trust (REIT) that creates additional value for its shareholders by managing commercial assets through joint venture investments and pursuing development opportunities.
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