J.P. Morgan Maintains Neutral Rating On Mission West Properties

According to J.P. Morgan, Mission West Properties MSW reported 2Q FFO/share of $0.13 after market close, in line with its estimate and Bloomberg consensus. J.P. Morgan said that no specific line items varied notably from its model. “However, occupancy came in considerably lower than we modeled. We will listen for more information on the call tomorrow regarding leasing prospects for the remainder of its 284k SF of expiring leases in 2011, a Silicon Valley market update, and the status of selling the McCandless assets. Overall we view the quarter as in line, and we maintain our Neutral rating.” Mission West Properties closed yesterday at $8.82.