JPMorgan upgraded Welltower to Overweight from Neutral with a price target of $99, up from $92. The firm, which is making eleven ratings changes in conjunction with its 2024 REITs and Real Estate Services Outlook, is “essentially” making a reversal of the downgrade to Neutral action that that it took in early October. The firm notes that since then, Welltower raised its SHO SS NOI growth outlook “again” and “potentially more important to this call,” around NAREIT the company disclosed a significant step-up in the pace of acquisition activity, with $3B closed through October and another $3B in process.
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Read More on WELL:
- Welltower downgraded to Sector Perform from Outperform at RBC Capital
- Welltower price target raised to $89 from $86 at Evercore ISI
- Welltower upgraded to Strong Buy from Outperform at Raymond James
- Welltower 17.5M share Spot Secondary priced at $85.95
- Welltower price target raised to $90 from $83 at Wedbush
