BRE Properties Inc. Reaches New 12-Month High at $61.65 (BRE)
BRE Properties (NYSE:BRE) set a new 52-week high during trading on Friday, Analyst Ratings Network reports. The stock traded as high as $61.65 and last traded at $61.49, with a volume of 447,563 shares. The stock had previously closed at $60.87.
A number of analysts have recently weighed in on BRE shares. Analysts at Zacks reiterated a “neutral” rating on shares of BRE Properties in a research note to investors on Tuesday, January 21st. They now have a $60.00 price target on the stock. Separately, analysts at Deutsche Bank downgraded shares of BRE Properties from a “buy” rating to a “hold” rating in a research note to investors on Friday, December 20th. They now have a $57.00 price target on the stock. Finally, analysts at BMO Capital Markets upgraded shares of BRE Properties from an “underperform” rating to a “market perform” rating in a research note to investors on Monday, December 9th. They now have a $59.00 price target on the stock, up previously from $50.00. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. BRE Properties presently has a consensus rating of “Hold” and an average price target of $50.44.
BRE Properties has a one year low of $45.76 and a one year high of $61.50. The stock’s 50-day moving average is $57. and its 200-day moving average is $53.17. The company has a market cap of $4.759 billion and a price-to-earnings ratio of 27.16.
BRE Properties (NYSE:BRE) last released its earnings data on Monday, February 3rd. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.65 by $0.02. The company had revenue of $105.56 million for the quarter, compared to the consensus estimate of $101.24 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Analysts expect that BRE Properties will post $2.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of 0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Wednesday, March 12th.
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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