Fly News Breaks for October 8, 2019
OFC, HCP, SRC, TCO
Oct 8, 2019 | 06:38 EDT
JPMorgan analysts Michael Mueller and Anthony Paolone believe real estate investment trust stocks are set up well in this environment. Earnings growth should remain stable into 2020, driven by commercial real estate fundamentals that are moderating a little but lower capital costs afford companies the ability to drive growth through accretive investments, they tell investors in a research note. The analysts recommend remaining tilted toward alternative property types. While U.S. job growth continues to be solid and above historic averages, it has notched down from the level of the past few years, Mueller and Paolone points out. They think this moderation will flow through to commercial real estate fundamentals and expect vacancies to be more flat and rent growth to be modestly positive next year. With this in mind, the analysts downgraded Corporate Office Properties (OFC) to Neutral from Overweight, upgraded HCP (HCP) to Overweight from Neutral, upgraded Spirit Realty to Overweight from Neutral, and downgraded Taubman Centers (TCO) to Neutral from Overweight.
News For OFC;HCP;SRC;TCO From the Last 2 Days
Dec 4, 2019 | 06:30 EST
Investor day to be held in New York on December 5 at 12 pm. Webcast Link