Waste Management Inc. rose the most in 17 months after analysts at Credit Suisse Group said investors would benefit if the biggest U.S. trash hauler was converted into a real estate investment trust.
Waste Management and Republic Services are “best suited” within the waste-disposal industry for conversion into a REIT, Credit Suisse analysts led by New York-based Hamzah Mazari said Monday in a report. Discussions with tax lawyers and accountants show landfills and their air rights qualify for REIT status, Mazari said.
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