Morgan Keegan Upgrades Inland Real Estate Corp’s Shares

October 20, 2010 / Elizabeth Buckley, Commercial Property Analyst

Inland Real Estate Corp will have its fill from improved occupancy rate and acquisitions of more commercial real estate properties, said a Morgan Keegan market analyst Stephen C. Swett on Monday. The analyst said that he improved his score regarding the real estate investment trust’s stock to “Outperform” from “Market Perform.”

Morgan Keegan Upgrades Inland Real Estate Corp’s Shares

Swett also pointed-out that the Real Estate Investment trust has assertively rented-up commercial real estate properties and renewed leases with recent leaseholders to facilitate a boost in its portfolio’s occupancy rate.

Furthermore, the company has liven-up its acquisitions of commercial real estate properties during its shared project with PGGM, a Dutch annuity fund asset manager, which will create supplementary revenues. The company also added three other commercial real estate properties to its shared venture with Inland Real Estate Exchange Corp.

And finally, Swett pointed-out that Inland Real Estate Corp has reinforced its balance sheet by note exchanges or repurchases.

Swett had also elevated his estimates regarding the company’s full-year funds from operation approximate to 86 cents per share from its previous 85 cents per share, as well as raising his 2011 directions to 88 cents per share from its previous 85 cents per share.

FFO or Funds From Operations calculates the financial performance or cash-flow of real estate investment funds by adding-up amortization and depreciation expenses to net income.

Inland Real Estate Corporation is one of the Midwest’s biggest proprietors and operators of neighborhood, community, lifestyle and power shopping centers, as well as the single-tenant retail assets commercial real estate properties. The company has around $1.9 billion in asset acquisition rate.

Around 67 percent of its rental assets and commercial real estate properties are located in the Chicago urban area and in northwest Indiana.

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