Wells Fargo Securities has begun covering the limited partner interests of Delek Logistics with an 'outperform' rating and a price target range of $25 to $28. Delek Logistics was spun out of Delek US Holdings last month at $21 per share but hasn't done much since. Wells analysts say the company (Ticker: DKL) should be able to generate earnings growth averaging 11 percent a year through 2017.
Avondale Partners analyst Fred Lowrance says investors could do a lot worse than buying Ryman Hospitality Properties shares now that it looks like the company will next year sport a dividend yield of about 6.5 percent. On top of that, he says, bringing the muscle of Marriott's sales group to the Gaylord family of hotels should boost cash flows back to Ryman. "We thus feel comfortable arguing that RHP should trade much closer to where peers have historically," he wrote clients this week.
Ryman shares (Ticker: RHP) have climbed more than 10 percent to about $37 since the company paid out its big one-time dividend last month. Lowrance sees them going to $49, up from his previous target of $48.
Shares of Brookdale Senior Living (Ticker: BKD) got dinged Thursday after Deutsche Bank analysts tweaked their price target for the nursing home operator to $32 from $33. That helped take down Brookdale about 3 percent on the day to $24.51, but it's still up more than 40 percent this year — mainly on the back of M&A chatter.
Analysts at SunTrust Robinson Humphrey have begun covering shares of Healthcare Realty Trust with a 'neutral' rating. That gives them plenty of company: Of the 13 other firms following West End-based Healthcare Realty, only RBC (via locally based Frank Morgan) and BMO Capital Markets have 'buy' ratings and only Cowen & Co. is telling investors to sell the company. Shares of Healthcare Realty (Ticker: HR) are up 26 percent this year.
Shares of Tractor Supply got dinged up pretty good Tuesday after SunTrust Robinson Humphrey analyst David Magee cut his price target to $105 from $115. The stock (Ticker: TSCO) closed down 6 percent at $83.39, its lowest level since July, but Terri Stridsberg at Schaeffer's Investment Research says a number of options investors remain bullish on the Brentwood-based company.
JMP Securities analyst William Marks has reiterated his 'outperform' rating on shares of Ryman Hospitality Resources but lowered his price target on the REIT-to-be to $42 from $50 following its big one-time dividend. Marks also said he expects CEO Colin Reed and his team to declare in early 2013 a dividend that will produce a yield of between 3 percent and 5 percent. Ryman (Ticker: RHP) closed Tuesday's action at $34.16.
The top three executives at National Health Investors have been rewarded by the real estate investment trust's board for their work in the past year. Directors last week approved an $850,000 payment to President and CEO Justin Hutchens, which included $100,000 in discretionary rewards they could give him. Also getting bonuses were Chief Accounting Officer Roger Hopkins and Chief Credit Officer Kristi Gaines, whose payouts exceeded their bonus goals by 32 percent and 23 percent, respectively.
Hopkins and Gaines also both got raises of 3 percent. Hutchens' base for 2013, though, won't change from the $400,000 it was this past year.
Deutsche Bank analyst Darren Lehrich provided a nice pop to shares of Brookdale Senior Living Friday when he wrote that the company could separate its property holdings and nursing home businesses and place the former into a real estate investment trust. (Apparently, it's what all the cool local kids are doing these days.) If it happens, look for Fortress Investment Group, which owns 14 percent of Brookdale and has two board seats, to drive the train. Fortress has been doing the same at Penn National Gaming.
“To the extent that Fortress played a big role behind the scenes to effect [the Penn deal], it could potentially have implications for [Brookdale],” Lehrich wrote.
SEE ALSO: Details on two other recent instances when market chatter lifted Brookdale shares
Various entities under the umbrella of New York-based GAMCO Investors have been busy in recent weeks unloading shares of Ryman Hospitalities Properties, the former Gaylord Entertainment. GAMCO, whose boss Mario Gabelli has been one of Gaylord's most vocal supporters and critics over the past decade and more, has sold off some $7 million worth of its large Ryman stake. It still owns about 12 percent of the Nashville-based company, which is converting into a real estate investment trust — a move Gabelli wasn't keen on. Shares of Ryman (Ticker: RHP), which recently went ex-dividend, are down slightly this morning at about $32.30.
Goldman Sachs analyst Steven Kent says holders of Ryman Hospitality Properties shares should be patient. The noise around the conversion of the former Gaylord Entertainment Co. into a real estate investment trust will soon subside and give the investment community a clearer picture of the company. That, Kent says, will draw in more money. He has lifted his price target for Ryman (Ticker: RHP) to $38 from $37. In early trading Tuesday, the stock was changing hands around $32.50.