Colonial Properties Trust: Sector Perform, Above Average Risk
RBC Capital Markets has decided to maintain its sector perform, above average risk rating for
Colonial Properties Trust, stating that the company has improved but still has a ways to go. CLP has improved leasing results, de-levered transactions, and simplified its platform
—all leading to RBC’s optimism in the company’s progress. RBC upgraded the target share price from $16 to $17/share.
| |
Q12010A |
Q22010A |
2010E |
2011E |
2012E |
| Reported FFO |
$0.28 |
$0.27 |
$1.06 |
$1.08 |
$1.18 |
| Operating FFO |
$0.29 |
$0.27 |
$1.07 |
$1.08 |
$1.19 |
| Occupancy |
096.7% |
96.4% |
96.2% |
96% |
96.2% |
| Reported EBITDA |
$50.4m |
$50.9m |
$204.9m |
$206.1m |
$217.7m |
| Dividend/share |
$0.15 |
$0.15 |
$0.60 |
$0.60 |
$0.68 |
The Q2 2010 earnings call can be accessed here:
Colonial Properties Trust Disclosure: The analyst(s) responsible for preparing this research received compensaion that is based upon various factors. including total revenue of the member companies of RBC Capital Markets and its affiliates, a portion of which have been generated by investment banking activities of the member companis of RBC Capital Markets and its affiliates. RBC Capital Markets Corp. makes a market in the securities of Colonial Properties Trust and may act as principal with regard to sales or purchases of this security. A member company of RBC Capital Markets or one of its affiliates managed or co-managed a public offering of securities for Colonial Properties Trust and received compensation for investment banking servieces in the past 12 months.