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American Financial Realty Trust (AFR) NewsBite - Downgrade Puts Pressure on AFR
Posted on November 06, 2007 at 10:06 AM EST
American Financial Realty Trust (AFR) opened at 8.04. So far today, the stock has hit a low of 7.81 and a high of 8.09. AFR is now trading at 7.89, down 0.12 (-1.49%). The stock hit its 52 week high of 12.08 in December and set its 52 week low of 6.17 in August. AFR has been trading lower for most of the past year. American Financial announced today third-quarter net loss narrowed to $22.8 million or 18 cents a share. Adjusted funds from operations totaled 13 cents a share, while analysts had been expecting funds from operations of 15 cents a share. A UBS analyst also downgraded the company to "Neutral" from "Buy," citing its acquisition by Gramercy Capital Corp. (GKK). Technical indicators for the stock are bearish but slightly improving. We will just watch this one for now. There are no hedged trades we like on AFR. [RHF - Seven Summits Strategic Investments NewsBite]
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