UBS Maintains a 'Neutral' on Colonial Properties Trust (CLP); A Mixed Bag Within Q4, Healthy 2012 Outlook, But...

UBS maintains a 'Neutral' on Colonial Properties Trust (NYSE: CLP) price target raised $1 to $22.

UBS analyst says, "As expected, CLP is heading into a strong Spring leasing season driven by a rebound in tenant demand from the 4Q lull. Overall, we believe 2012 will be another strong year for CLP, supported by low turnover and rents that are only 15% of tenant income. Having underperformed to start the year, we see the apartment REITs potentially trading 5% higher though 4Q11 & 1Q12 earnings. However, our concerns surrounding peaking rent growth by 2H12 and slowing growth in 2013 remain alive and well." (UBS maintains $1.26 for FY12 FFO, slightly raises FY13 from $1.39 to $1.41)

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

Shares of Colonial Properties Trust closed at $21.43 yesterday.

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