Stifel downgraded Medical Properties Trust to Hold from Buy with a price target of $4.50, down from $12. While the stock’s valuation remains attractive, some recent issues are increasing the risk, the analyst tells investors in a research note. First is the delay in closing the asset sale to Yale and second is Steward, Medical Properties’ largest tenant, partially paying rent late, says the firm. Stifel also notes the company’s large debt maturities in the next few years and its high cost of capital.
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