As If On Cue, Goldman Upgrades REITs As It Pumps Commerical Real Estate Offerings

Reggie Middleton's picture

As predicted by Zerohedge (see Is Goldman Preparing To Upgrade The REIT Sector?) and probably preordained by their underwriting of REIT debt a couple of weeks ago (see Reggie Middleton Personally Contragulates Goldman, but Questions How Much More Can Be Pulled Off), Goldman Sachs has upgraded the US REIT sector, and put a buy recommendation on Taubman.

If
I were you I would keep my eyes open for additional Goldman
underwritings in the REIT space in order to help said entities out of
their bad debt dilemma, which of course doesn't exist since Goldman
just recommended that we buy these companies. That is, until said
analysts/strategist leave the employ of their respective bank - then
all of a sudden the truth comes out.

Don't believe me, see the off Broadway version of the "Pump 'em and Dump 'em" play - "Here's a Big Company Bailout by the Taxpayer That Even the Taxpayer's Missed!." Don't forget to notice the change of heart of the head REIT analyst right after he leaves Merrill Lynch.

Of
course, Wall Street analysts have absolutely nothing to do with their
investment banking, broking and trading brethren, Right????

The
post on Macerich that I released for a few hours yesterday had a
material data input error causing some of the unconsolidated numbers to
be off. It is being corrected and I will re-post it once it is fully
checked.