AmREIT Sets New 1-Year High at $23.74 (AMRE)
AmREIT (NASDAQ:AMRE) hit a new 52-week high on Monday , AnalystRatings.NET reports. The company traded as high as $23.74 and last traded at $23.62, with a volume of 52,179 shares changing hands. The stock had previously closed at $23.12.
AMRE has been the subject of a number of recent research reports. Analysts at MLV & Co
raised their price target on shares of AmREIT from $21.00 to $24.00 in a research note on Thursday, July 10th. They now have a “buy” rating on the stock. Separately, analysts at Wunderlich downgraded shares of AmREIT from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. They now have a $22.00 price target on the stock, up previously from $21.00. Finally, 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.36.
The stock’s 50-day moving average is $19.86 and its 200-day moving average is $17.52. The company has a market cap of $461.2 million and a price-to-earnings ratio of 58.38.
AmREIT (NASDAQ:AMRE) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, meeting the Thomson Reuters 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. On average, analysts predict that AmREIT will post $0.36 earnings per share 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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