UPDATE: Goldman Sachs Downgrades EPR Properties to Neutral on Relative Growth Challenges

Goldman Sachs reduced its rating on EPR Properties

from Buy to Neutral with a $49 price target. Goldman Sachs noted, "We are downgrading EPR Properties (EPR) from Buy to Neutral, as a result of: (1) Relative price performance, which has made it less attractive to REITs broadly, and (2) our expectation of smaller refinance and operating upside relative to most core sector REITs. We now see just 12% upside to our $49, 12-month, 2017E AFFO-multiple based price target vs. an average of 10% for our coverage. Since added to the Buy list on July 16, EPR is +6% vs. the RMZ -3% and the S&P500 +4.8%." EPR Properties closed at $46.00 on Monday.