MORT - When Wall Street Likes Apartments

• Analysts struggle with the concept of upgrading shares before a large rally. Instead, they often upgrade after a large rally.
• There’s a saying that should be on Wall Street: "We upgraded shares because prices increased as our prior thesis was proven wrong."
• That isn’t a saying on Wall Street yet. Perhaps because I just made it up. However, it should be a saying. It happens often enough.
• If you think FFO or AFFO multiples are going deep enough in REIT analysis, you’re doing yourself a disservice by quitting early.

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