Why Medical Properties Trounced the Market Today
One of the standout stocks in the real estate investment trust (REIT) universe on Tuesday was Medical Properties Trust (NYSE: MPW). Buoyed by not one but two analyst price target hikes, the healthcare properties specialist saw its share price zoom nearly 6% higher on the day, a performance that left the S&P 500 index's 0.2% skid in the dust.
Before market open, both Credit Suisse prognosticator Tayo Okusanya and his peer Michael Lewis of Truist Securities got progressively more bullish on Medical Properties Trust. The former raised his price target to $13 per share from $11, while the latter bumped his to $14 (previous level: $13).
Although both analysts maintained their hold recommendations on the REIT's stock while increasing their price targets only modestly, these twin moves illustrated the attractiveness of the company.
Source Fool.com