UPDATE: BofA Securities Downgrades Medical Properties Trust (MPW) to Neutral

July 6, 2021 6:03 AM EDT
Get Alerts MPW Hot Sheet
Price: $20.66 +2.28%

Rating Summary:
    13 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 8 | New: 46
Trade Now! 
Join SI Premium – FREE

(Updated - July 6, 2021 8:53 AM EDT)

BofA Securities analyst Joshua Dennerlein downgraded Medical Properties Trust (NYSE: MPW) from Buy to Neutral while cutting the price target to $21.50 (from $25.00) on the belief that MPW will trade sideways until it can announce permanent equity capital for its recently announced transactions ($2B) and bring leverage back to its historical range (we estimate pro-forma leverage of 6.7x vs their target of 5.0-6.0x).

The analyst stated "we estimate that MPW may need to raise roughly $1.1-2.7B of equity to fund announced transactions and lower leverage to its target range. We note that MPW will likely target 6x leverage requiring roughly $1B."

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

Shares of Medical Properties Trust closed at $20.60 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, Downgrades