AmREIT Sees Large Volume Increase Following Analyst Upgrade (AMRE)
AmREIT (NASDAQ:AMRE) saw strong trading volume on Friday after MLV & Co
raised their price target on the stock from $21.00 to $24.00, American Banking & Market News reports. MLV & Co
currently has a buy rating on the stock. 240,348 shares were traded during mid-day trading, an increase of 16% from the previous session’s volume of 206,857 shares.The stock last traded at $22.30 and had previously closed at $22.45.
A number of other analysts have also recently weighed in on AMRE. Analysts at Wunderlich downgraded shares of AmREIT 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 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $20.36.
The stock has a 50-day moving average of $18.23 and a 200-day moving average of $17.05. The company has a market cap of $435.8 million and a P/E ratio of 56.69.
AmREIT (NASDAQ:AMRE) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the 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 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) that owns, operates, acquires and selectively develops and redevelops primarily neighborhood and community shopping centers located in high-traffic, densely populated, affluent areas with high barriers to entry.
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