Industrial REITs Gain After Upgrade On Price

NEW YORK (AP) — Recent sell-offs in stocks of AMB Property Corp. and Duke Realty Corp. have made them more attractive buys, an analyst who upgraded the stocks said Monday.

The companies, which own and develop industrial real estate, were upgraded to "hold" from "sell" by Citi Investment Research analyst Michael Bilerman.

Progress is being made on asset sales and refinancing, he said, but raised his risk rating to "speculative" on both stocks to reflect the difficulty of raising capital in the current economy. ...