Wachovia Upgrades Healthcare REIT Sector to Overweight - Names Nationwide Health Properties (NHP) as 'Top Pick' Idea

December 9, 2008 8:55 AM EST

Wachovia upgrades Healthcare REIT Sector to Overweight based upon: 1) better relative balance sheet position than peer sectors with modest near-term debt maturities and higher Excess Capital Capacity; 2) long-term triple-net lease structure; 3) sustainable, inflationary earnings growth expected to occur over the next couple years; 4) potential benefit from new legislative changes allowing for lessor-operator consolidation as well as increased gov’t healthcare spending efforts

Wachovia upgrades Nationwide Health Properties (NYSE: NHP) to Outperform and names as 'Top Pick' idea.

Wachovia also upgrades Senior Housing Properties (NYSE: SNH) to Market Perform as we believe our inherent bias against externally managed vehicles is somewhat mitigated by company's capital position.

Nationwide Health Properties, Inc. (NHP) is a real estate investment trust (REIT) that invests primarily in healthcare-related senior housing, long-term care properties and medical office buildings.

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