TrafficCourt

Analyst Decries REIT Selloff

Raymond James & Associates Inc. analyst Paul Puryear upgraded eight real estate investment trusts today in the belief that the recent sell-off in the sector has been overdone.

“Enough, already!” he wrote in a note. “Given our years of real estate experience, we can recognize compelling value when it appears.”

Mr. Puryear said there's been an “unprecedented sell-off among REIT stocks” that caused REIT prices plummet more than 30% so far in October.

He blames “indiscriminant selling” by hedge funds, closed-end funds' facing redemptions and broader market turmoil for the decline.

Link.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish