Market Overview

UPDATE: JP Morgan Downgrades Health Care REIT to Overweight on Valuation

Related HCN
Top Performing Industries For July 7, 2014
Health Care REIT Reaps $1B from Offering - Analyst Blog

JP Morgan downgraded Health Care REIT (NYSE: HCN) from Overweight to Neutral and maintained a $63.00 price target.

JP Morgan noted, "We are downgrading HCN to Neutral from Overweight. This call is a relative stock call as we continue to view the fundamental prospects and growth outlook for HCN favorably. We simply hold a bias toward more economically leveraged property types at this time and see near-term catalysts elsewhere in the REIT sector. … HCN trades at 15.9x our 2013 FFO estimate, a 3% premium to the healthcare group average."

Health Care REIT closed at $61.31 on Tuesday.

Posted-In: JP MorganAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Most Popular

Related Articles (HCN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters