REIT Analysts Are Changing Their Opinions: Find Out Here What's Changed

As of Oct. 1, these are the leading Wall Street analysts’ opinions on the real estate investment trusts (REITs) they follow:

Terreno Realty Corp. TRNO is downgraded by Scotiabank’s Sumit Sharma from sector outperform to sector perform with price target reduction from $73 to $54. BTIG analyst Thomas Catherwood maintains a buy rating on Terreno but lowers his price target from $94 to $74.

CubeSmart CUBE receives a buy rating at UBS Group AG where analyst Michael Goldsmith initiates coverage with a price target of $45.

Life Storage Inc. LSI gets a neutral rating from UBS. Goldsmith begins coverage of the REIT and sets a price target of $145.

National Storage Affiliates Trust NSA also receives a neutral rating from UBS’s Goldsmith and establishes $43 as the price target.

Prologis Inc. PLD is determined by BTIG’s Catherwood to be worthy of a buy rating, which is now maintained with a lowered price target: from $193 to $152. Morgan Stanley analyst Ronald Kandem reinstates Prologis as overweight and sets a price target of $120. Scotiabank’s Nicholas Yulico upgrades the REIT from sector perform to sector outperform and lowers his price target from $137 to $116.

Indus Realty Trust Inc. INDT is maintained with a buy rating by BTIG’s Catherwood but with the price target reduced from $91 to $72.

EastGroup Properties Inc. EGP is another REIT maintained as a buy by BTIG’s Catherwood. He lowers his price target from $248 to $198. Morgan Stanley analyst Kandem gives an equal weight rating to EastGroup with a price target reduced from $195 to $150.

Sun Communities Inc. SUI is maintained as a market outperform by JMP Securities analyst Aaron Hecht, who lowers his price target from $200 to $160.

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