Wachovia Downgrades Healthcare Realty Trust (HR) to Market Perform

August 6, 2008 8:20 AM EDT

Wachovia downgrades Healthcare Realty Trust (NYSE: HR) from Outperform to Market Perform with a $26 to $28 valuation range. The firm also lowers their 2008 EPS estimate from $1.58 to $1.55 and reduces their 2009 EPS estimate from $1.64 to $1.63.

Wachovia downgraded HR "as recent out performance places equity at greater prem valuation vs. peer healthcare REITs (recent +500bp/+700bp/+1100bp excess performance vs. peers/REIT Index/S&P500). Positive HCREIT investor sentiment, HR’s medical-office focus, strong relative capital position and development expertise contributed to such out performance, which we currently view as appropriately discounted."

Healthcare Realty Trust Incorporated, a real estate investment trust, engages in the ownership, acquisition, management, and development of real estate properties associated with the delivery of healthcare services in the United States.

Related Categories

Downgrades

Stocks Mentioned

Related Entities

• Wachovia
• Standard & Poor's

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?