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Fly News Breaks for July 7, 2016
IRET
Jul 7, 2016 | 08:35 EDT
As previously reported, Baird analyst Drew Babin downgraded Investors Real Estate to Neutral from Outperform, as expected higher-yielding dispositions "significantly decrease" his net asset value, funds from operations, and adjusted funds from operations estimates. Babin believes deleveraging and portfolio improvement will inevitably restrict the company's cash flow growth in the near-term. The analyst also lowered his price target on the shares to $7 from $8.
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