Keefe, Bruyette & Woods Upgrades Home Properties (HME) to Market Perform; So Far, So Good - Suburban D.C. Rent Growth Holding On

Keefe, Bruyette & Woods upgraded Home Properties (NYSE: HME) to Market Perform with a price target of $62.00.

KBW analyst says, "Market sources in the DC area suggest that pricing power, while moderating, continues to support rent growth in the low-to-mid single digit range. Combined with HME's 4Q progress towards greater balance sheet flexibility (new unsecured), we believe the current discount at which HME trades relative to its higher growth coastal peers appropriately reflects HME's more modest NOI growth outlook."

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

Shares of Home Properties closed at $59.58 yesterday.

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