JP Morgan Analyst Lowers Price Targets On These 4 Popular REITs As Recession Fears Rise

by Msnbctv news staff


JPMorgan Chase & Co. (NYSE: JPM) is slashing worth targets on 4 common actual property funding trusts (REITs) as recession fears proceed to weigh closely in the marketplace. Whereas REITs are sometimes checked out as a resilient asset class and a hedge towards inflation, the Actual Property Choose Sector SPDR Fund (ARCA: XLRE) is performing proper in step with the SPDR S&P 500 ETF Belief (ARCA: SPY): each down about 21% for the 12 months.

In accordance with information from Benzinga Professional, JPMorgan up to date its scores on the 4 REITs as follows:

Further Area Storage, Inc. (NASDAQ: EXR) acquired an improve from impartial to obese, however its worth goal was lowered from $224 per share to $193 per share.

Brixmor Property Group Inc (NYSE: BRX) acquired an improve from impartial to obese, with its worth goal lowered barely from $27 per share to $25 per share.

Welltower Inc (NYSE: WELL) acquired an improve from impartial to obese, however its worth goal was lowered from $94 per share to $89 per share.

Medical Properties Belief Inc (NYSE: MPW) was downgraded from obese to impartial and its worth goal was lowered from $24 per share to $18 per share, which nonetheless predicts upside of almost 23% over the following 12 months.

Extra on REITs

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