Chambers Street Properties (CSG) saw a big move last session, as the company’s shares fell by over 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for CSG, as the stock is now down 11% since Jun 10, 2015.
On July 1, 2015, the company announced plans to merge with Gramercy Property Trust, to form one of the largest industrial and office net lease real estate investment trust (“REIT”). This REIT is expected to have an enterprise value of roughly $5.7 billion.
This slump shouldn’t be too much of a surprise to investors, as the real estate company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
CSG currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
A better-ranked stock in the same sector is Arbor Realty Trust Inc. (ABR), holding a Zacks Rank #1 (Strong Buy).
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