HRPT Properties Trust "buy," target price reduced - update

11/07/07 - Cantor Fitzgerald

NEW YORK, November 7 (newratings.com) - Analysts at Cantor Fitzgerald maintain their "buy" rating on HRPT Properties Trust (HRP). The 12-month target price has been reduced from $14.50 to $12.00.

In a research note published this morning, the analysts mention that the company has posted its 3Q07 results in-line with the expectations. Although the performance of HRPT Properties Trust’s portfolio continues to be healthy, aided by high-quality cash flows, same-store net operating income and margins, its FFO growth continues to decline, the analysts say. The company’s FFO growth is likely to continue to decline during 2008, Cantor Fitzgerald adds.