BRE Properties (NYSE:BRE) was downgraded by investment analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
BRE Properties (NYSE:BRE) opened at 50.72 on Tuesday. BRE Properties has a 1-year low of $45.76 and a 1-year high of $55.76. The stock has a 50-day moving average of $49.83 and a 200-day moving average of $50.13. The company has a market cap of $3.914 billion and a price-to-earnings ratio of 23.81.
BRE Properties (NYSE:BRE) last announced its earnings results on Tuesday, July 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that BRE Properties will post $2.48 EPS for the current fiscal year.
BRE has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of BRE Properties (NYSE:BRE) in a research note to investors on Thursday, September 12th. They now have a $57.00 price target on the stock. Separately, analysts at Cowen and Company cut their price target on shares of BRE Properties (NYSE:BRE) from $52.00 to $47.00 in a research note to investors on Thursday, September 12th. Finally, analysts at Morgan Stanley downgraded shares of BRE Properties (NYSE:BRE) from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, August 6th. They now have a $55.00 price target on the stock, down previously from $58.00.
One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $52.57.
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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