UPDATE: JP Morgan Cuts PT to $10.50 on Medical Properties Trust; Updates Model
JP Morgan reiterates its Underweight rating on Medical Properties Trust (NYSE: MPW) but lowers its price target from $11 to $10.50.
JP Morgan comments, "After 1Q earnings we are updating our estimates. We are decreasing our 2012 normalized FFO estimate (excluding one-time items) $0.03, to $0.85/share. Our 2012 reported FFO estimate (inclusive of one-time items) is $0.83/share. We are maintaining our 2013 FFO estimate of $1.00/share."
MPW closed at $8.94 on Monday.
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