Jefferies Downgrades Ventas (VTR) to Hold on post-acute care concerns and valuation:

Jefferies downgraded Ventas (NYSE: VTR) from Buy to Hold with a price target of $66.00 (from $65.00).

The firm comments, "Healthcare REITs with meaningful exposure to LTACs and IRFs include Medical Property Trust (MPW, Hold, $11.61) and Ventas (VTR, Hold, $64.51). At MPW, it is 43% of the asset base, and at VTR, we estimate it is 5% to 8% of net operating income (NOI). We are downgrading VTR to a Hold rating from our prior Buy rating given this concern. As valuation appears full at 16.4x P/FFO and a 5.3% implied cap rate, we believe the risk/reward with VTR stock is now balanced, rather than being favorable."

For an analyst ratings summary and ratings history on Ventas click here. For more ratings news on Ventas click here.

Shares of Ventas closed at $64.51 yesterday.

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