Morgan Keegan has an Outperform rating and a $62 price target on shares of Ventas, Inc. VTR after the company completed its acquisition of Nationwide Health Properties.
In the note, Morgan Keegan writes, "On Friday, Ventas announced the completion of its $7.6 billion stock-for-stock acquisition of Nationwide Health Properties. We had assumed an October 1 close for modeling purposes. We have adjusted our Ventas model to reflect the additional quarter of NHP's operations.
As a result, we are raising our third quarter and full year 2011 FFO and FAD estimates by $0.04 and $0.05 per share, respectively."
Shares of VTR gained $1.03 on Friday to close at $53.75, a gain of 1.95%.
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