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RLJ Lodging Stock Valuation May Be Too Attractive To Ignore
Friday, September 8, 2017 - 11:08am | 392After a 16 percent-decline since the start of 2017, analysts at Canaccord Genuity are now convinced that RLJ Lodging Trust (NYSE: RLJ) is a compelling stock to own. The firm's Ryan Meliker upgrades RLJ Lodging's stock from Hold to Buy with a price target boosted from $21 to $23. RLJ Lodging, a self...
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Education Realty Shares Not Likely To See Upside Soon
Monday, April 10, 2017 - 3:32pm | 390Ryan Meliker of Canaccord Genuity downgraded shares of Education Realty Trust, Inc. (NYSE: EDR) from Buy to Hold with a price target lowered from $46 to $43 after the company's leasing update for the 2017-2018 lease term. Education Realty cited challenges in its upper-class leading in its...
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Marriott's Q4 Results Could Lift The Entire Lodging Category Higher
Thursday, February 16, 2017 - 9:52am | 357Marriott International Inc (NASDAQ: MAR) reported strong Q4 results and announced its 2017 guidance ahead of expectations. The key takeaways from the print could boost Marriott’s stock “and potentially the group” on February 16, Canaccord Genuity’s Ryan Meliker said in a...
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Lodging Stocks Should Be In For A Strong 2017
Wednesday, December 21, 2016 - 10:51am | 575Canaccord Genuity said in a note released Monday that lodging stocks will move higher in 2017 due to improving macroeconomic conditions. The firm sees a 10–15 percent upside to the group in 2017 on top of the nearly 20 percent gain notched up by the companies on the "Trump trade." Economic...
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Despite Trump Rally, Canaccord Sees More Prison Upside
Monday, December 19, 2016 - 10:47am | 375Donald Trump's presidential victory has lowered the risk to contract renewals and the overall private prison REIT business model, Canaccord Genuity’s Ryan Meliker said in a report. He added that the estimates for The GEO Group Inc (NYSE: GEO) and Corecivic Inc (NYSE: CXW) could prove...
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Canaccord Upgrades CoreCivic To Buy, Likes The Lowered Level Of Risk Following Dividend Cut
Monday, December 12, 2016 - 9:52am | 329Shares of Corecivic Inc (NYSE: CXW) plummeted on news of the intention to renegotiate the South Texas Family Residential Center [STFRC] on August 3. Despite a subsequent upturn, shares are still down 19 percent since the announcement, despite the company losing only 15 percent of annual EBITDA...
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Trump's Win Should Limit Risk For Prison Stocks, Which Still Have Room To Run
Monday, December 5, 2016 - 9:43am | 335“Following Donald Trump's presidential victory, we now see materially less risk to contract renewals and the overall private prison REIT business models,” Cannacord Genuity’s Ryan Meliker said in a report. He added that the current estimates for both The GEO Group Inc (NYSE...
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Prison Stocks Still Facing Headline Risk Despite GEO Group's Federal Contract Renewal
Friday, September 30, 2016 - 11:59am | 479Ryan Meliker of Canaccord Genuity said the headline risk prevails for prison stocks despite The GEO Group Inc (NYSE: GEO) announcing a BOP contract renewal. GEO announced that the BOP had extended its contract for the company-owned D. Ray James Correctional Facility by an additional two years. The...
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Corrections Corp Is Right To Restructure, But Headwinds Remain
Wednesday, September 28, 2016 - 2:23pm | 337Canaccord Genuity said headwinds remain for Corrections Corp Of America (NYSE: CXW). CXW announced a restructuring of the company's corporate operations and implementation of a cost reduction plan. The plan includes cutting 12 percent of the corporate workforce at headquarters, and the CEO...
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Private Prison Price Targets Trimmed Following Loss Of Fed Contracts
Wednesday, August 24, 2016 - 3:53pm | 406Canaccord Genuity trimmed the price targets of private prison operators Corrections Corp Of America (NYSE: CXW) and The GEO Group Inc (NYSE: GEO) following the recent announcement from the Department of Justice that it would end its use of private prisons. The brokerage, which said there is...
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Diversity Protects Apartment Investment And Management Co From Risk
Tuesday, August 2, 2016 - 11:53am | 299The diversification of Apartment Investment and Management Co (NYSE: AIV) mitigated risk, according to Canaccord Genuity, in an environment where multifamily fundamentals are broadly slowing down throughout various core markets. "That risk mitigation has driven substantial value recently as...
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Canaccord Analysts Think RLJ Lodging Is Too Exposed To Underperforming Markets
Friday, July 15, 2016 - 8:48am | 282Although RLJ Lodging Trust (NYSE: RLJ) shares have appreciated 10 percent over the past month, Canaccord Genuity’s Ryan Meliker believes the company’s high exposure to underperforming markets could lead the stock to underperform in the coming quarters. Meliker downgraded the rating on...
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Canaccord On Private Prisons: 'Headline Risk' Can Affect Performance, But Is Unwarranted
Monday, July 11, 2016 - 7:51am | 379The private prison sector offers a unique combination of defensive fundamentals and attractive growth potential, Canaccord Genuity’s Ryan Meliker said in a report. He provided details of two stocks in particular. Stocks in this sector had earlier been under pressure on account of concerns...
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Could Hersha Hospitality Trust Pay A Special Dividend?
Tuesday, July 5, 2016 - 2:08pm | 350Canaccord Genuity said Hersha Hospitality Trust (NYSE: HT) could pay a special dividend of as much as $0.20 a share and should see upside in the long term. The company has about $130 million in acquisitions left to execute this year to fulfill the 1031 exchange opportunities from the recent...
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Monogram Trading At Significant Discount, But Canaccord Worried About Short-Term Headwinds
Tuesday, June 28, 2016 - 10:31am | 319Canaccord Genuity’s Ryan Meliker believes Monogram Residential Trust Inc (NYSE: MORE) is a good stock to own for the latter half of 2017 when the headwinds facing the company ease up and the NOI ramps stabilize. Until then, however, the stock could see limited upside. Meliker initiated...