Morgan Keegan Lowering Estimates On Health Care REIT (HCN)

Morgan Keegan is lowering its estimates on Health Care REIT HCN. It still rates shares at Outperform and has a $55 price target. In a note sent to investors Morgan Keegan writes, "We are making small adjustments to our model. We are lowering our 2011 FFO estimate from $3.27 to $3.23 and FAD from $3.03 to $3.01. In 2012, when we model a slower acquisition pace, we are lowering our FFO estimate from $3.41 to $3.33 and FAD from $3.16 to $3.12. We believe these estimates could prove to be conservative and we are maintaining our $55 price target." Shares of HCN gained 47 cents yesterday to close at $46.07, a gain of 1%.