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MarketWatch Pulse – Wednesday, Apr. 9 2008


BOSTON — Analysts at Lehman Brothers on Wednesday cut their earnings estimates on several apartment real estate investment trusts, including Apartment Investment and Management Co. , AvalonBay Communities Inc. , Camden Property Trust , Equity Residential and Post Properties Inc.  


“We believe the challenging economic/jobs outlook combined with the oversupply of residential property will put downward pressure on apartment fundamentals,” the analysts wrote in a research note. They said they are maintaining their previous price targets on the stocks despite the lowered earnings expectations “to reflect the current relative debt financing advantage that apartment owners enjoy over the other property types.” 
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