UPDATE: Morgan Keegan Downgrades Home Properties to Market Perform

Morgan Keegan has downgraded Home Properties (NYSE: HME) from Outperform to Market Perform and has lowered the price target from $65 to $60 in a research report out today.

In the report, Morgan Keegan states, "We are downgrading HME shares from an Outperform to a Market Perform rating, reflecting the company's large exposure to the mid-Atlantic, which faces increasing risks, in our view. In addition, we are concerned that HME's average renter may have greater difficulty absorbing continued rent increases."

Shares of HME are trading at $56.20, down 1.94% from yesterday's close.