Seeking Alpha

Highwoods boosted, CommonWealth cut at Stifel

  • Stifel Nicolaus makes a couple of moves in office-realted REITs, upgrading Highwoods Proprties (HIW) to a Buy after a nice run for the stock this year, and downgrading CommonWealth REIT (CWH) to a Sell.
  • In typical buy the rumor, sell the fact action, CommonWealth had a nice run into the results of its consent solicitation, but has failed to make any headway since dissident shareholders claimed victory about six weeks ago. They now face the task of putting together a board and management to run the company. A special shareholder meeting to elect a board is set for May 23.
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