2023-03-16 18:52:04 ET
Specialty real estate investment trust (REIT) Medical Properties Trust (NYSE: MPW) wasn't all that special for investors on Thursday. On the back of a recommendation downgrade from an analyst at an influential bank, shares of the company lost nearly 2% of their value. By contrast, the S&P 500 index rose by roughly the same percentage rate.
The downgrading analyst was Bank of America Securities' Joshua Dennerlein. He now has Medical Properties Trust pegged at neutral, one rung down from his previous buy. In addition to changing his recommendation, Dennerlein also cut his price target on the REIT , to $10 per share from the preceding $13.
The downgrade doesn't come at a particularly opportune time for Medical Properties Trust.
For further details see:
Why Medical Properties Trust Stock Got Trounced on Thursday