JPMorgan Chase & Co. (NYSE: JPM) is slashing worth targets on 4 fashionable actual property funding trusts (REITs) as recession fears proceed to weigh closely in the marketplace. Whereas REITs are sometimes checked out as a resilient asset class and a hedge towards inflation, the Actual Property Choose Sector SPDR Fund (ARCA: XLRE) is performing proper in keeping with the SPDR S&P 500 ETF Belief (ARCA: SPY): each down about 21% for the yr.
In response to knowledge from Benzinga Professional, JPMorgan up to date its rankings on the 4 REITs as follows:
Additional Area Storage, Inc. (NASDAQ: EXR) obtained an improve from impartial to chubby, however its worth goal was lowered from $224 per share to $193 per share.
Brixmor Property Group Inc (NYSE: BRX) obtained an improve from impartial to chubby, with its worth goal lowered barely from $27 per share to $25 per share.
Welltower Inc (NYSE: WELL) obtained an improve from impartial to chubby, however its worth goal was lowered from $94 per share to $89 per share.
Medical Properties Belief Inc (NYSE: MPW) was downgraded from chubby to impartial and its worth goal was lowered from $24 per share to $18 per share, which nonetheless predicts upside of almost 23% over the following 12 months.
Extra on REITs
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