UPDATE: J.P. Morgan Raises PT on Health Care REIT on Updated Model
In a report published Friday, J.P. Morgan reiterated its Neutral rating on Health Care REIT (NYSE: HCN), and slightly raised its price target from $63.00 to $64.00.
J.P. Morgan noted, “We are updating our model post 4Q earnings. As a result, we are lowering our 2013 FFO estimate by $0.09, to $3.78. In addition, we are lowering our 2014 FFO estimate by $0.10, to $4.00. Finally, we are increasing our 2013 YE price target by $1 to $64/share as a result of a slight increase in our payout ratio assumption.”
Health Care REIT closed on Thursday at $65.16.
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