Jefferies Downgraded Madical Properties Trust To Hold

According to Jefferies, Medical Properties Trust MPW is downgraded to Hold. Jefferies said that while MPW's external growth strategy should result in meaningful doubledigit earnings growth in 2011 and 2012, it believes MPW's current stock price reflects this strong outlook. “Our $12 PT is derived via our DDM. Key risks are: 1) delays in deploying capital for accretive acquisitions; 2) further substantial cuts to state Medicaid and Medicare reimbursement rates; and 3) possible earnings impact from Proposition 13 given significant exposure to California.” Medical Properties Trust closed yesterday at $11.90.