Barclays Raises Outlook on Brookfield Properties (BPO); Good Quarter, But Investors Focused on 2012 Finish
Tweet
Share
E-mailGet Alerts BPO Hot Sheet
Price: $20.52 --0%
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Barclays maintains an 'Equalweight' on Brookfield Properties (NYSE: BPO) price target of $19.00.
Analyst, Ross L. Smotrich, noted that BPO topped FFO estimates and highlighted several transactions including Morgan Stanley's (NYSE: MS) 1.2 million sq ft renewal and expansion at One New York Plaza, along with investments in London, Seattle and Toronto.
However, Smotrich said investors knew from last quarter's conference call that things were positive (and about recent deals closing), but are now slightly disappointed that BPO won't likely achieve its goal of leasing 50% of the expiring BofA/Merrill Lynch (NYSE: BAC) space at WFC by 2012 end.
Barclays raises FY12 FFO from $1.10 to $1.12 and FY13 from $1.16 to $1.18
For an analyst ratings summary and ratings history on Brookfield Properties click here. For more ratings news on Brookfield Properties click here.
Shares of Brookfield Properties closed at $17.07 yesterday.
Analyst, Ross L. Smotrich, noted that BPO topped FFO estimates and highlighted several transactions including Morgan Stanley's (NYSE: MS) 1.2 million sq ft renewal and expansion at One New York Plaza, along with investments in London, Seattle and Toronto.
However, Smotrich said investors knew from last quarter's conference call that things were positive (and about recent deals closing), but are now slightly disappointed that BPO won't likely achieve its goal of leasing 50% of the expiring BofA/Merrill Lynch (NYSE: BAC) space at WFC by 2012 end.
Barclays raises FY12 FFO from $1.10 to $1.12 and FY13 from $1.16 to $1.18
For an analyst ratings summary and ratings history on Brookfield Properties click here. For more ratings news on Brookfield Properties click here.
Shares of Brookfield Properties closed at $17.07 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
- Freedom Broker Upgrades Serve Robotics (SERV) to Buy
- Cantor Fitzgerald Reiterates Overweight Rating on Merlin Labs (MRLN)
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Morgan Stanley, BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
