Compass Point Reiterates a 'Buy' on Associated Estates Realty (AEC); Compelling Valuation
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Price: $4.66 +8.12%
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Compass Point reiterates a 'Buy' on Associated Estates Realty (NYSE: AEC) price target of $20.00.
Analyst, Wilkes Graham, said, "We are updating our model after 1Q12 earnings season and keeping our estimates and price target unchanged. AEC continues to plan on receiving an investment grade rating at the end of this year or early 2013, which should help reduce the current discount to our estimated $18 NAV."
"AEC currently trades at a 7.3% implied cap rate, assuming the 10% premium. Thus, we believe the company has significant upside as the demand for rental continues to increase, borrowing costs decline, and portfolio quality improves via asset recycling and developments."
For an analyst ratings summary and ratings history on Associated Estates Realty click here. For more ratings news on Associated Estates Realty click here.
Shares of Associated Estates Realty closed at $16.04 yesterday.
Analyst, Wilkes Graham, said, "We are updating our model after 1Q12 earnings season and keeping our estimates and price target unchanged. AEC continues to plan on receiving an investment grade rating at the end of this year or early 2013, which should help reduce the current discount to our estimated $18 NAV."
"AEC currently trades at a 7.3% implied cap rate, assuming the 10% premium. Thus, we believe the company has significant upside as the demand for rental continues to increase, borrowing costs decline, and portfolio quality improves via asset recycling and developments."
For an analyst ratings summary and ratings history on Associated Estates Realty click here. For more ratings news on Associated Estates Realty click here.
Shares of Associated Estates Realty closed at $16.04 yesterday.
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