BofA Securities Downgrades EPR Properties (EPR) to Neutral, 'we turn more bearish on the net lease sector'

BofA Securities analyst Joshua Dennerlein downgraded EPR Properties (NYSE: EPR) from Buy to Neutral with a price target of $45.00 (from $50.00).

The analyst comments "EPR deserves a lower multiple from the Hollywood strike. EPR has the highest exposure to movie theaters (45.1% of the portfolio). With the ongoing Hollywood writer & actor strike underway, we believe there are increasing risks of the content pipeline slowing. The length of a strike and its impact on content production is the key risk from both an upside / downside perspective on the multiple. Given the strike, we are lowering our applied AFFO multiple to 9x from 10x. Our PO falls to $45 from $50."

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

Shares of EPR Properties closed at $42.82 yesterday.

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