SBRA - Jefferies upgrades KRC OHI HR TRNO others as REITs poised to rally

REIT stocks, hit hard in Q1 2020 when the pandemic struck, should rally when investors digest market fundamentals, Jefferies analysts write in a note to clients.As a result, they have upgraded a slew of REITs to Buy ratings — Kilroy Realty ([[KRC]] +2.4%), Acadia Realty Trust ([[AKR]] +1.7%), RPT Realty ([[RPT]] +1.7%), Omega Healthcare ([[OHI]] +1.0%), Sabra Health Care ([[SBRA]] +1.1%), Healthcare Realty ([[HR]] +4.5%), Physicians Realty ([[DOC]] +3.4%), First Industrial Realty ([[FR]] +1.3%), and Terreno Realty ([[TRNO]] +1.6%)."When the books are closed on 2020, REIT earnings will decline just ~3.5% vs. -20% for the S&P 500. Meanwhile, REIT multiples have contracted 3x, but the S&P multiple has expanded 2x (on '22 estimates)," the analysts write.DOC and HR are upgraded to Buy as analyst Jonathan Petersen become more positive on the medical office space due to expectations increased government spending on healthcare will drive demand for outpatient care.He also upgrades

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Jefferies upgrades, KRC, OHI, HR, TRNO, others as REITs poised to rally