The Zacks Analyst Blog Highlights:Morgan Stanley, Mack-Cali Realty, Prudential
Financial, Federal Realty Investment and Simon Property Group
CHICAGO, April 10, 2013
CHICAGO, April 10, 2013 /PRNewswire/ --Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include Morgan Stanley (NYSE:MS),
Mack-Cali Realty Corp. (NYSE:CLI), Prudential Financial Inc. (NYSE:PRU),
Federal Realty Investment Trust (NYSE:FRT) and Simon Property Group Inc.
Get the most recent insight from Zacks Equity Research with the free Profit
from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Tuesday's Analyst Blog:
Morgan Stanley Upped to Outperform
On Apr 5, 2013, we upgraded our long-term recommendation on Morgan Stanley
(NYSE:MS) to Outperform from Neutral. The upgradation was based on the Federal
Reserve's approval of its 2013 capital plan.
Why the Upgrade?
In Mar 2013, Morgan Stanley received approval from the Fed to go ahead with
its plan to acquire the remaining 35% stake in Morgan Stanley Wealth
Management (MSWM). Also, approval of its latest capital plan reinforces the
belief that the company's capital position remains stable.
Morgan Stanley is expected to announce its first quarter 2013 results on Apr
18. The Zacks Consensus Estimate for the quarter is pegged at 58 cents per
share. The Zacks Earnings ESP (Read: Zacks Earnings ESP: A Better Method) for
Morgan Stanley is 0.00% for the first quarter. This, along with its Zacks Rank
#3 (Hold), lowers the chance of a positive earnings surprise.
Over the past 60 days, the Zacks Consensus Estimate for 2013 inched up 1.4% to
$2.10 per share. Likewise, the Zacks Consensus Estimate for 2014 advanced 3.2%
to $2.56 over the same period.
Additionally, Morgan Stanley has been lowering its fixed income and
commodities risk-weighted assets (RWAs) since 2009. The company continues to
restructure its fixed income businesses by doing away with complex structured
product businesses. We anticipate reduced RWAs to free-up capital that could
be utilized for enhancing shareholders' value.
Mack-Cali Closes Alterra IB Deal
Mack-Cali Realty Corp. (NYSE:CLI) acquired a luxury multi-family property –
Alterra at Overlook Ridge IB – in Metro Boston. The company shelled out around
$88 million for this acquisition. Notably, the purchase was pursuant to a deal
penned by the company that the latter disclosed in January at the time of the
'Alterra at Overlook Ridge IA' acquisition.
Alterra IB adds 412 rental units to Mack-Cali's portfolio. The property is
currently 96.1% leased and is situated in the master planned community of
Overlook Ridge in Revere and Malden, Mass.
Mack-Cali acquired both Alterra IA and Alterra IB from a joint venture of
Prudential Insurance Company of America, an operational arm of Prudential
Financial Inc. (NYSE:PRU). The acquisitions are in line with the company's
strategy of expanding its portfolio and owning premium quality properties in
Together, Alterra IA and Alterra IB brings on board 722-units for a purchase
price of $149.3 million. The properties offer locational advantage for their
connectivity to major roadways and for its proximity to north of downtown
As a matter of fact, Alterra IB at Overlook Ridge is developed and managed by
Mack-Cali's recently acquired Roseland subsidiary. In Oct 2012, Mack-Cali
acquired Roseland Property – one of the largest residential developers in the
northeast. Since then, Roseland Property is operating as a subsidiary of
We expect the acquired properties to complement the company's other upscale
property in the Massachusetts area – Quarrystone at Overlook Ridge. Also, the
transaction will likely be accretive to the company's earnings in the upcoming
Mack-Cali currently has a Zacks Rank #2 (Buy). Other REITs that are performing
well and are worth a look include Federal Realty Investment Trust (NYSE:FRT)
and Simon Property Group Inc. (NYSE:SPG), both carrying a Zacks Rank #2.
Want more from Zacks Equity Research? Subscribe to the free Profit from the
Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative
analysis to help investors know what stocks to buy and which to sell for the
Continuous coverage is provided for a universe of 1,150 publicly traded
stocks. Our analysts are organized by industry which gives them keen insights
to developments that affect company profits and stock performance.
Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the
latest analysis from Zacks Equity Research. Subscribe to this free newsletter
Zacks.com is a property of Zacks Investment Research, Inc., which was formed
in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in
stock market data that would lead to superior investment results. Amongst his
many accomplishments was the formation of his proprietary stock picking
system; the Zacks Rank, which continues to outperform the market by nearly a 3
to 1 margin. The best way to unlock the profitable stock recommendations and
market insights of Zacks Investment Research is through our free daily email
newsletter; Profit from the Pros. In short, it's your steady flow of
Profitable ideas GUARANTEED to be worth your time! Register for your free
subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance
numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook:
Disclaimer: Past performance does not guarantee future results. Investors
should always research companies and securities before making any investments.
Nothing herein should be construed as an offer or solicitation to buy or sell
Zacks Investment Research
800-767-3771 ext. 9339
SOURCE Zacks Investment Research, Inc.
Press spacebar to pause and continue. Press esc to stop.