Financial Institutions – Property: Third
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Financial Institutions – Property: Third

Bart Gysens & team

Morgan Stanley

After two years in the runner-up position, Morgan Stanley’s team of three rises to third place. Led by London-based Bart Gysens, the team covers 30 stocks — including British Land Co., which the analysts upgraded from equal weight to overweight in November, at 515p, on the belief that the U.K.-based commercial property developer is well positioned to attract fixed-income investors seeking higher rewards without additional risk. Gysens points out that “bond investors are paying a higher multiple on interest payments made by triple-B-rated corporates,” while prime office yields have held relatively steady at about 5 percent, on average, in most European cities — a rate the team believes is sustainable. By late December the stock had jumped 9.1 percent, to 562p, and it remains a top pick for the year. The Morgan Stanley team provides “impressive analysis and stock picking,” according to one appreciative client.

Leslie Kramer

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