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Fly News Breaks for November 30, 2015
ARPI
Nov 30, 2015 | 07:49 EDT
Sterne Agee CRT says it has seen reports indicating that activist shareholders are buying "sizable" amounts of the shares of American Residential Property. The firm says these activists will look to nominate new directors who will seek to force the company to operate its rental platform more efficiently, in line with the demands of shareholders. The firm expects the company to become an acquisition target over the medium term. It keeps a $22.50 price target and Buy rating on the shares.
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