UPDATE: Baird Downgrades Physicians Realty Trust (DOC) to Neutral
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Baird analyst Amanda Sweitzer downgraded Physicians Realty Trust (NYSE: DOC) from Outperform to Neutral with a price target of $20.00 (from $19.00).
The analyst comments "Our downgrade is not a call management’s tone at NAREIT (if anything, management appeared more optimistic about its ability to execute on its $400-$600 million pipeline); rather, we are taking some chips off the table after the recent improved sector performance given our expectation that private market competition will continue to lower expected external growth accretion. Upside appears more limited today, and our updated price target assumes DOC trades at a comparable multiple as HTA (not covered) vs. the >2x historical discount."
Shares of Physicians Realty Trust closed at $19.47 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesRobert W Baird
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