Wunderlich Securities Inc. analyst downgraded hisinvestment opinion of One LibertyProperties Inc. to "hold" from "buy," anddecreased his price target to $26 from $28.

The analyst wrote in a research report: "We aredowngrading One Liberty Properties (OLP) from Buy to Hold given a 30bp increaseto our cap rate assumption, a function of a rapidly changing interest rateenvironment since the election and our changing bias toward a rising interestrate environment, as well as our concerns regarding net lease REITs to be able toraise rents in response to a potentially higher inflationary environment going forward.Our earnings estimates are unchanged."