Deutsche Bank Reiterates Buy Rating for BRE Properties (BRE)
BRE Properties (NYSE:BRE)‘s stock had its “buy” rating restated by analysts at Deutsche Bank in a research report issued to clients and investors on Thursday, StockRatingsNetwork.com reports. They currently have a $57.00 target price on the stock. Deutsche Bank’s price objective indicates a potential upside of 13.70% from the stock’s previous close.
Shares of BRE Properties (NYSE:BRE) traded down 0.46% during mid-day trading on Thursday, hitting $50.13. 345,134 shares of the company’s stock traded hands. BRE Properties has a 1-year low of $45.76 and a 1-year high of $55.76. The stock’s 50-day moving average is $49.96 and its 200-day moving average is $50.10. The company has a market cap of $3.868 billion and a P/E ratio of 23.64.
BRE Properties (NYSE:BRE) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $101.90 million for the quarter, compared to the consensus estimate of $100.48 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that BRE Properties will post $2.48 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company cut their price target on shares of BRE Properties (NYSE:BRE) from $52.00 to $47.00 in a research note to investors on Thursday. Separately, analysts at Morgan Stanley downgraded shares of BRE Properties (NYSE:BRE) from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, August 6th. They now have a $55.00 price target on the stock, down previously from $58.00. Finally, analysts at UBS AG downgraded shares of BRE Properties (NYSE:BRE) from a “buy” rating to a “neutral” rating in a research note to investors on Friday, August 2nd. They now have a $55.00 price target on the stock, up previously from $53.00.
Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.25.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.40 per share. This represents a $1.58 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, September 11th.
BRE Properties, Inc (NYSE:BRE) is a self-administered equity real estate investment trust (REIT) focused on the development, acquisition and management of multifamily apartment communities primarily located in the metropolitan markets within the State of California, and the Seattle, Washington region.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.