UPDATE: Goldman Sachs Initiates Coverage on Healthcare Realty with a Sell Rating on Valuation

In a report published by Goldman Sachs, analyst Andrew Rosivach initiated coverage on Healthcare Realty

with a Sell rating and a $27 price target. Goldman Sachs reported that, “We are initiating coverage on Healthcare Realty (HR) with a Sell rating, relative to our Attractive healthcare coverage view, and a 12-month price target of $27 (2.8% potential upside including dividends vs. an average of +24.8% for our healthcare REIT coverage). Our FFO growth outlook through 2018 is excellent on the back of the lease-up of stabilization in progress (SIP) properties' potential external growth. However, HR's valuation anticipates earnings growth more than any other healthcare REIT under coverage.” Shares of Healthcare Realty closed at $27.42 on Wednesday.