Barclays Highlights HPP, PLD and BXP From NAREIT REITWeek Conference

Barclays analyst, Ross L. Smotrich, comments on U.S. REITs, after attending NAREIT's REITWeek conference in New York. Smotich said the overall feeling was upbeat and fundamentals appear solid. However, companies were still mindful of macro issues and cautious going into the second half of 2012.

Smotrich had some individual company conviction including:

Hudson Pacific Properties (NYSE: HPP): Compelling small cap value mainly out of the California market. The company owns and operates 15 office properties and 2 media and entertainment properties with a total of 4.4 million sq ft.

Prologis, Inc. (NYSE: PLD): Overblown concerns to exposure in Europe. The company should be in a good position to benefit from a market recovery. The company is headquartered in San Francisco, but owns and operates industrial and retail properties worldwide.

Boston Properties (NYSE: BXP): Company not to negatively affected by weakness in Washington DC as office fundamentals in the gateway/CBD markets are mainly positive.

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