BofA Analyst Doubles Down On Veris Residential Growth, Downgrades Sun Communities - Here's Why

BofA Securities analyst Joshua Dennerlein revised ratings on residential REITs, Veris Residential, Inc. VRE and Sun Communities, Inc. SUI.VRE: The analyst upgraded the company to Buy from Neutral and raised the price target to $23 from $20.The analyst notes that the market is undervaluing VRE’s internal growth potential and its ability to successfully execute optimization initiatives.The analyst says that VRE is excelling in its key initiatives: capital allocation, portfolio optimization, and balance sheet ...