JPMorgan analyst Michael Mueller upgraded Healthcare Realty Trust to Overweight from Neutral with an unchanged price target of $19. The stock’s relative valuation could improve in the coming quarters as the legacy HTA portfolio occupancy gains materialize, the analyst tells investors in a research note. The firm believes Healthcare Realty’s underperformance has been driven by a combination of items including a slower than anticipated lease-up of the HTA assets earlier in the year and some earnings impact uncertainties tied to its large disposition program, “two items that are arguably in management’s control.”
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