JPMorgan analyst Michael Mueller upgraded Ventas (VTR) to Overweight from Neutral with a price target of $72, up from $70. The company’s internal and external growth trends have been “very good” with double-digits same-store net operating income growth for its largest portfolio component and a consistent flow of acquisition opportunities, the analyst tells investors in a research note. The firm says that compared to its closest peer, Ventas shares arguably offer more value, particularly on an implied cap rate basis. The external growth recovery expected for the overall real estate investment trust group has not materialized as a whole, which arguably makes Ventas’ external growth dynamic stand out a bit more, contends JPMorgan.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VTR:
- Ventas Amends ATM Sales Agreement to $2.25 Billion
- Ventas files to sell 3.38M shares of common stock for holders
- Ventas Realty Issues $500 Million in Senior Notes
- Mixed Outlook for Ventas: Hold Rating Justified Amid Slightly Lower FFO Guidance and Stable Growth Prospects
- Soros buys JPMorgan, exits Alibaba in Q1