UPDATE: JP Morgan Upgrades Medical Properties Trust to Neutral on Dividend Yield
JP Morgan upgraded Medical Properties Trust (NYSE: MPW) from Underperform to Neutral and raiseed the price target from $12.00 to $13.00.
JP Morgan said, "While the stock trades at a notable premium to its implied cap rate, the stock does offer one of the highest dividend yields in the REIT sector (6%+) that we finally believe will be well covered in 2013. This yield should be attractive to income-oriented investors. From a fundamental perspective, the company has also made significant headway over the course of the past couple of years in terms of finding consistent deal flow which has been driving earnings higher."
Medical Properties Trust closed at $12.78 on Tuesday.
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