Citizens analyst Chris Muller downgraded Greystone Housing (GHI) to Market Perform from Outperform without a price target The firm cites headwinds from higher interest rates for the downgrade. Greystone’s joint venture equity investments added upside to earnings, but the the gains added volatility to its earnings and generated taxable income for investors, the analyst tells investors in a research note. Citizens views the shares as fairly valued at current levels.
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