FBR Capital Reiterates an 'Outperform' on Colonial Properties Trust (CLP); Added to Top Picks List
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Price: $22.37 --0%
Rating Summary:
2 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital reiterates an 'Outperform' on Colonial Properties Trust (NYSE: CLP), PT $23.
FBR analyst says, "We are moving Colonial Properties Trust to the FBR Top Picks list and removing Essex Property Trust...As has been well telegraphed, CLP has a number of visible near-term embedded catalysts. These include asset sales (e.g., non-core office and retail), further balance sheet improvement (e.g., lower leverage, additional equity, and some debt refinancings), and external growth strategy execution. While the latter two categories are not unique to CLP, we believe the combination of catalysts and strong core performance will continue to drive the stock closer to our value estimate."
For more ratings news on Colonial Properties Trust click here and for the rating history of Colonial Properties Trust click here.
Shares of Colonial Properties Trust closed at $20.10 yesterday.
FBR analyst says, "We are moving Colonial Properties Trust to the FBR Top Picks list and removing Essex Property Trust...As has been well telegraphed, CLP has a number of visible near-term embedded catalysts. These include asset sales (e.g., non-core office and retail), further balance sheet improvement (e.g., lower leverage, additional equity, and some debt refinancings), and external growth strategy execution. While the latter two categories are not unique to CLP, we believe the combination of catalysts and strong core performance will continue to drive the stock closer to our value estimate."
For more ratings news on Colonial Properties Trust click here and for the rating history of Colonial Properties Trust click here.
Shares of Colonial Properties Trust closed at $20.10 yesterday.
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