KeyBanc Downgrades HCP (HCP) to Underweight; Risk to Care Real Estate Valuations
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Price: $34.78 --0%
Rating Summary:
15 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 6 | New: 33
Rating Summary:
15 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 6 | New: 33
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KeyBanc downgraded HCP (NYSE: HCP) from Hold to Underweight with a price target of $34.00.
KeyBanc analyst says, "Despite easing uncertainty in the health care regulatory environment in the near term, we continue to see risks to health care real estate valuations as the political will to cut health care spending remains a risk. Additionally, we see more attractive organic growth in sectors with more leverage to an improving economy. While we acknowledge the above average rent growth embedded in HCP’s senior housing (29% of NOI) and skilled nursing facilities (38%) as a result of lease transitions (to Emeritus and Brookdale) and its HCR ManorCare acquisition, we view this growth as fully priced into the stock today."
For an analyst ratings summary and ratings history on HCP click here. For more ratings news on HCP click here.
Shares of HCP closed at $41.09 yesterday.
KeyBanc analyst says, "Despite easing uncertainty in the health care regulatory environment in the near term, we continue to see risks to health care real estate valuations as the political will to cut health care spending remains a risk. Additionally, we see more attractive organic growth in sectors with more leverage to an improving economy. While we acknowledge the above average rent growth embedded in HCP’s senior housing (29% of NOI) and skilled nursing facilities (38%) as a result of lease transitions (to Emeritus and Brookdale) and its HCR ManorCare acquisition, we view this growth as fully priced into the stock today."
For an analyst ratings summary and ratings history on HCP click here. For more ratings news on HCP click here.
Shares of HCP closed at $41.09 yesterday.
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