Morgan Keegan Sees Strong Upside In Health Care REIT (HCN)

Morgan Keegan is reiterating its $52 price target and Outperform rating on Health Care REIT, Inc. HCN, after the real estate investment trust announced it would redeem its convertible preferred stock on September 30. Morgan Keegan goes on to say, "We believe that Health Care REIT can sustain 5% FFO growth long-term through internal growth, accretive acquisitions, and facility development. Our investment thesis calls for accretive new investments driving higher earnings, yielding a higher share price absent multiple expansion." Shares of Health Care REIT, Inc. closed at $45.93 yesterday.