Zacks Reiterates “Neutral” Rating for BRE Properties (BRE)
BRE Properties (NYSE:BRE)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Tuesday, AnalystRatings.Net reports. They currently have a $52.00 price target on the stock. Zacks‘ price target points to a potential upside of 5.16% from the company’s current price.
In other BRE Properties news, EVP Kerry Fanwick sold 1,000 shares of the company’s stock on the open market in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.05, for a total transaction of $50,050.00. Following the sale, the executive vice president now directly owns 60,240 shares of the company’s stock, valued at approximately $3,015,012. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of BRE Properties (NYSE:BRE) traded down 0.92% during mid-day trading on Tuesday, hitting $49.45. 345,438 shares of the company’s stock traded hands. BRE Properties has a 52-week low of $45.76 and a 52-week high of $55.76. The stock’s 50-day moving average is $49.85 and its 200-day moving average is $50.33. The company has a market cap of $3.816 billion and a price-to-earnings ratio of 23.43.
BRE Properties (NYSE:BRE) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts predict that BRE Properties will post $2.48 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BRE. Analysts at Goldman Sachs Group Inc. downgraded shares of BRE Properties from a “neutral” rating to a “sell” rating in a research note to investors on Tuesday, September 17th. They now have a $44.00 price target on the stock, down previously from $50.00. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of BRE Properties in a research note to investors on Thursday, September 12th. They now have a $57.00 price target on the stock. Finally, analysts at Cowen and Company cut their price target on shares of BRE Properties from $52.00 to $47.00 in a research note to investors on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $51.25.
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.
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