UPDATE: Morgan Keegan Lowers PT on Healthcare Realty Trust to $18.50

Morgan Keegan is out with its report today on Healthcare Realty Trust HR, lowering its PT to $18.50 from $23. In its report, Morgan Keegan writes, "We are trimming our FFO/FAD estimates, 2011 from $1.24/$1.12 to $1.15/$1.04 and 2012 from $1.40/$1.26 to $1.31/$1.18. We have modeled Healthcare Realty exiting 2012 with strong 5% growth. We are lowering our target multiples given the quarter's results and market conditions. Our target 16x P/FAD and 7% implied cap rate yield an $18.50 target." Morgan Keegan maintains Outperform on HR. Shares of HR closed Tuesday at $15.75, down 0.32% from Monday's close.