Morgan Keegan Raises Estimates And Price Target On BRE Properties

According to Morgan Keegan, BRE Properties BRE estimates and price targets are raised. Morgan Keegan said that BRE reported 1Q 2011 FFO of $0.53/share, $0.01 above estimate and $0.02 above Street consensus. “Management fine-tuned 2011 FFO guidance from $2.06-2.18/share to $2.08-2.18/share—a $0.01 increase at midpoint. We are increasing our 2011 estimate $0.01 to $2.17/share and raising 2012 $0.03 to $2.34/share. Maintain Outperform. We believe that BRE's west coast portfolio can produce a longer and stronger growth trend over the next 2-3 years.” BRE Properties closed yesterday at $49.74.