Stifel Nicolaus analyst Dan Bernstein has upgraded shares of Healthcare Realty Trust to 'buy' from 'hold,' saying the Nashville-based REIT is a good value for investors to step in after it slipped from above to $25 to below $23 in the recent market swoon. Bernstein sees more than 20 percent upside for Healthcare Realty (Ticker: HR), which was changing hands at almost $23.20 Wednesday afternoon. Read more here.
Just as the dust is settling on the second-quarter earnings season, John Ransom at Raymond James has raised his rating on shares of Community Health Systems to 'outperform' from 'market perform.' He had gone in the other direction following the Supreme Court's Obamacare ruling in June, but the stock has since retreated near to pre-ruling levels. His new price target for the stock is $70. It was changing hands Friday morning (Ticker: CYH) at about $57.60.
Another analyst has weighed in on the prospects for shares of National Health Investors following word of the pending exit of CEO Justin Hutchens. And just like Juan Sanabria at Bank of America Merrill Lynch, John Kim at BMO Capital Markets says Hutchens' departure is a blow for NHI. He sees "very little managerial depth" at the Murfreesboro-based company and has lowered his rating on the company to 'market perform' from 'outperform.' He also has trimmed his price target more than 10 percent to $65. NHI (Ticker: NHI) is trading at about $58.50.
Bank of America Merrill Lynch analyst Juan Sanabria is a little unsettled by the looming and unexpected departure at National Health Investors of CEO Justin Hutchens. Sanabria on Tuesday downgraded shares of the Murfreesboro-based real estate investment trust to ‘underperform’ from ‘neutral,’ saying Hutchens’ exit creates added uncertainty. NHI shares (Ticker: NHI) slipped a bit Wednesday to $59.29. So far this year, they’re down about 15 percent.
Insurance giant Prudential has become the first institutional investor to declare a major stake in newly public medical real estate investment vehicle Community Healthcare Trust. Prudential officials on Monday filed papers saying they now own more than 740,000 shares of Brentwood-based Community Healthcare Trust. That equates to a stake of no less than 11.3 percent. Community Healthcare Trust shares (Ticker: CHCT) ended Monday trading at $18.15. They went public at $19 three months ago.
The board of newly public Community Healthcare Trust has declared the company’s first dividend. Shareholders of record as of Aug. 20 will in early September receive 14.2 cents. That equates to an annualized payout rate of $1.50 and a dividend yield of about 8 percent. Shares of Community Healthcare Trust (Ticker: CHCT) are down slightly this morning to $18.29. They went public in May at $19.
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