BMO Capital analyst Juan C. Sanabria has maintained their neutral stance on HR stock, giving a Hold rating on October 20.
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Juan C. Sanabria has given his Hold rating due to a combination of factors including Healthcare Realty Trust’s recent performance and strategic moves. The company reported a better-than-expected third-quarter earnings, driven by improved same-store occupancy and strong same-store net operating income growth. Additionally, Healthcare Realty Trust has made progress in its asset disposition strategy, with a clear path to $1.2 billion in sales, achieving tighter yield targets than initially anticipated.
Despite these positive developments, the improvements were somewhat anticipated, and the company’s financial guidance was only modestly raised, slightly above market expectations. The cost-cutting measures have contributed to an increase in funds from operations, but the overall outlook remains cautious. Therefore, while the company shows signs of improvement, the current valuation and market conditions suggest maintaining a Hold position on the stock.
In another report released on October 20, Wells Fargo also upgraded the stock to a Hold with a $18.00 price target.