Zacks Equity Research, Chicago, has declared Affordable Residential Communities Inc., Englewood, Colo., its "Bear of the Day" -- a stock expected to underperform the markets over the next three to six months -- for April 10.Zacks said ARC "is valued well above better-positioned peers," though its results improved "slightly" in the fourth quarter as a result of cost-cutting and the sale of underperforming assets. The company's portfolio occupancy "continues to drop, as it appears that ARC's cost-cutting efforts have negatively affected resident retention," the research firm said. Zacks added, however, that fallout from the turmoil in the subprime market "could help ARC and the entire manufactured housing industry in the next year." Zacks can be found online at http://www.zacks.com.

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