Home Properties (NYSE:HME)
— This real estate investment trust (REIT) engages in the ownership,
operation, acquisition, development and rehabilitation of apartment
communities in the United States. The stock has been in a bull market
since March 2009, progressing higher despite a ragged real estate
market.
Currently, the stock is consolidating in a bull channel and is
supported by three buy signals from our proprietary indicator, the
Collins-Bollinger-Reversal (CBR). The recent consolidation is at $63. If
that price is broken, look for support at the 200-day moving average at
just above $60.
S&P and Wunderlich Securities reiterated their “buy” ratings on
HME with a price target of $69 and $70, respectively. Technically the
stock is trading on the support line of the bull channel with a target
of $69, the top of the channel. HME has a dividend yield of 4%.
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