Some Totally Unexpected REIT Lack Of Love From Merrill Lynch

Hey Regency, this is what happens when you don't tap ML as lead underwriter: you get the expected headline "Improving Balance Sheet" but no accompanying Upgrade or target price increase (in a note just released by Merrill Lynch/Bank of America which was somehow not a lead underwriter on this particular offering).

Still holding our breath for Schmidt's action on Weingarten. Readers will see it the second it hits the tape, likely over the next few hours.

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