Goldman Sachs Views on Industrial Stocks
AMB Property Corporation (NYSE: AMB) was given a Neutral signal by Goldman as Goldman feels that AMB might not be able to rise by 25% in the next 2-4 year period even after there is an increase in demand and the supply grows. AMB Property Corporation (NYSE: AMB) is currently trading at $25.27, increased 0.28% in the morning trading hours.
Goldman also gave Liberty Property Trust (NYSE: LRY) a Neutral after discussing LRY’s future capital allocation strategy and its future plans. Liberty Property plans to reduce its suburban office exposure and increase its focus on multi-tenant industrial and metro office products. Moreover, LRY’s investment activity for the year 2010 remains highly dependent on the opportunities and pricing available. Liberty Property Trust (NYSE: LRY) is up 0.19% at $31.24. In the last six months, LRY gained over 38%.
However, ProLogis (NYSE: PLD) was given a Sell rating by Goldman as the year 2010 will be challenging year for PLD as it takes time for underutilized spaces to get absorbed and therefore PLD might get lower rents. But PLD’s future refinancing plans has improved significantly according to Goldman and feels that PLD is under less pressure to deleverage goals. PLD is down 0.21% at $14.28 in the morning trading hours. So far this year, PLD gained only 3%.
