“AmREIT, Inc.” Hits New 12-Month High After Analyst Upgrade (AMRE)
Shares of “AmREIT, Inc.” (NASDAQ:AMRE) hit a new 52-week high during mid-day trading on Thursday after MLV & Co
raised their price target on the stock from $21.00 to $24.00, American Banking News reports. MLV & Co
currently has a buy rating on the stock. “AmREIT, Inc.” traded as high as $22.00 and last traded at $21.72, with a volume of 1,096,926 shares changing hands. The stock had previously closed at $19.20.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wunderlich downgraded shares of “AmREIT, Inc.” from a “buy” rating to a “hold” rating in a research note on Thursday. They now have a $22.00 price target on the stock, up previously from $21.00. Analysts at Jefferies Group upgraded shares of “AmREIT, Inc.” from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. They now have a $19.00 price target on the stock, up previously from $18.00. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.36.
The stock has a 50-day moving average of $18.07 and a 200-day moving average of $17.01. The company has a market cap of $429.1 million and a P/E ratio of 48.48.
“AmREIT, Inc.” (NASDAQ:AMRE) last released its earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.06. The company had revenue of $12.74 million for the quarter, compared to the consensus estimate of $11.47 million. Analysts expect that “AmREIT, Inc.” will post $0.36 EPS for the current fiscal year.
AmREIT, Inc (NASDAQ:AMRE) is a full-service, vertically integrated and self-administered real estate investment trust (REIT), which owns, operates, acquires and selectively develops and redevelops neighborhood and community shopping centers, which it refers to as Irreplaceable Corners.
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