FDX got an upgrade to overweight by JP Morgan today and is up almost $2. That should make all those FDX warehouse leases that MNRTA holds look better. Maybe we'll see some flow through to MNRTA as the FDX enthusiasm broadens to other beneficiaries of a healthy FDX share price.
With 46% of MNRTA's space leased to FDX, a financially healthy FDX adds stability to MNRTA's continued ability to pay the dividend. One month ago I had queried management in this regard, and they were optimistic about FDX's outlook. So any upgrade of that stock is a plus for MNRTA shareholders.