Indus Realty Trust downgraded to Market Perform from Outperform at JMP

JMP Securities analyst Mitch Germain downgraded Indus Realty Trust to Market Perform from Outperform without a price target following the company’s agreement to be acquired by Centerbridge Partners and GIC Real Estate for $67 per share. The firm views the pricing as fair and believes shares will no longer trade on fundamentals, but close to the takeout price until the deal is completed.