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Healthcare Realty +2.1% after RayJay upgrade; HTA slips (updated)

Aug. 31, 2020 9:39 AM ETHealthcare Realty Trust Incorporated (HR) Stock, DOC StockHR, DOCBy: Liz Kiesche, SA News Editor
  • Healthcare Realty Trust (NYSE:HR) rises 1.4% and Healthcare Trust of America (NYSE:HTA) gains a mere 0.3% after Raymond James analyst Jonathan Hughes upgrades both REITs to Outperform from Market Perform.
  • Lifts HR price target to $35 from $34; HTA price target is $29.
  • For the change on HR, Hughes cites its "undervalued and underappreciated portfolio", "peer-leading earnings growth rate through 2022 — and likely beyond", and "strong external growth pace that is expected to continue."
  • The more positive view on HTA is driven by "recent underperformance that has created an attractive risk/reward profile," he wrote.
  • The analyst also reiterates his Outpeform rating on Physicians Realty Trust (DOC +0.8%); notes that "lease expirations of only 5% through 2021 lowers re-leasing risk and required capital expenditures."
  • Hughes's bullishness contrasts with the Neutral Quant rating for both HTA and HR.
  • See total return for HR and HTA vs. S&P 500 and peer DOC over the past year:

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