Bre Properties Inc. (BRE) Issues Q4 Earnings Guidance
Bre Properties Inc. (BRE) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.57-0.60 for the period.
Shares of Bre Properties Inc. (BRE) traded down 0.32% during mid-day trading on Tuesday, hitting $47.19. Bre Properties Inc. (BRE) has a one year low of $45.02 and a one year high of $53.57. The company has a market cap of $3.624 billion and a P/E ratio of 36.90.
Bre Properties last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.02. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts expect that Bre Properties Inc. (BRE) will post $2.36 EPS for the current fiscal year.
A number of research firms have also recently commented on BRE. Analysts at Goldman Sachs raised their price target on shares of Bre Properties from $45.00 to $47.00 in a research note to investors on Monday, October 22nd. They now have a sell rating on the stock. Finally, analysts at Zacks reiterated a neutral rating on shares of Bre Properties in a research note to investors on Thursday, August 2nd. They now have a $53.00 price target on the stock.
BRE Properties, Inc. (BRE) is a self-administered equity real estate investment trust (REIT), focused on the development, acquisition and management of multifamily apartment communities in six metropolitan markets of the Western United States.
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