Reckson New York Property Trust

Reckson New York Property Trust (RNY)

Stock Code

RNY

Stock Exchange

ax

Reckson New York Property Trust (RNY) is an investment trust. RNY makes investments in a portfolio of commercial office markets of the New York Tri-State area in the United States. The Trust listed on the Australian Stock Exchange (ASX) on September 26, 2005. Reckson New York Property Trust holds 100% interest in Reckson Australia LPT Corp. Reckson Australia LPT Corp. holds 75% interest in Reckson Australia Operating Company LLC, which in turn had a portfolio of 24 office properties, with one warehouse property held for sale in the New York Tri-State area as of 31 December 2007.

Reckson New York Property Trust (RNY) Stock Recommendation


SB Citigroup have rated the Reckson New York Property Trust (RNY) stock as a Hold, Medium Risk. The broker notes Reckson Associates in the US is to be acquired by a consortium of investors, but this is expected to have little impact on the Australian listing as the stake will be transferred to an investment group that has indicated its interest in continuing to allow the group to operate as is currently the case. In the broker's view the US office market is showing signs of recovery.

Reckson New York Property Trust (RNY) Stock Recommendation


Credit Suisse rated the Reckson New York Property Trust (RNY) stock as Downgrade to Underperform. The move comes after the ASX200 falling and the stock price rising considerably. Reckson New York Property Trust is listed on the Australian Stock Exchange (ASX) under stock code RNY. Check your charts!

Syndicate content

Recommended Websites