Merrill Smacks Down the REIT Space: Downgrades 29 Stocks, Upgrades 2

Merrill Lynch made a decidedly negative call on the REIT space this morning, downgrading 29 stocks, while upgrading just 2. Here is a summary of the firm's rating changes.

Downgraded from Buy to Neutral:

• Digital Realty Trust (NYSE: DLR)
  
• Duke Realty (NYSE: DRE)
  
• Alexandria Real Estate Equities (NYSE: ARE)
  
• EastGroup Properties (NYSE: EGP)
  
• Equity One (NYSE: EQY)
  
• Macerich (NYSE: MAC)
  
• Simon Property Group (NYSE: SPG)
  
• Taubman Centers (NYSE: TCO)
  
• UDR Inc. (NYSE: UDR)
  
• Vornado Realty Trust (NYSE: VNO)

Downgraded from Buy to Underperform:

• American Campus Communities (NYSE: ACC)
  
• Brookfield Properties (NYSE: BPO)
  
• Developers Diversified Realty (NYSE: DDR)
  
• Liberty Property Trust (NYSE: LRY)
  
• SL Green Realty (NYSE: SLG)
  
• Senior Housing Properties Trust (NYSE: SNH)
  
• Ventas (NYSE: VTR)
  
• U-Store-It Trust (NYSE: YSI)

Downgraded from Neutral to Underperform:

• AMB Property (NYSE: AMB)
  
• Brandywine Realty Trust (NYSE: BDN)
  
• Boston Properties (NYSE: BXP)
  
• Mack-Cali Realty (NYSE: CLI)
  
• DCT Industrial Trust (NYSE: DCT)
  
• HCP Inc. (NYSE: HCP)
  
• Kilroy realty (NYSE: KRC)
  
• ProLogis (NYSE: PLD)
  
• Regency Centers (NYSE: REG)
  
• Weingarten Realty Investors (NYSE: WRI)

Upgraded from Underperform to Neutral:

• Equity Residential (NYSE: EQR)
  
• Public Storage (NYSE: PSA)

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