Goldman Sachs Resumes Coverage on Health Care REIT at “Neutral” (HCN)

Early on Tuesday, Goldman Sachs analysts resumed coverage on Health Care REIT, Inc (HCN), giving the company a tepid rating due to lower-than-average earnings growth expectations.

The analysts rate HCN as “Neutral” and see shares reaching $61. This price target suggests a slight downside to the stock’s Monday closing price of $62.81.

Goldman Sachs analyst Andrew Rosivach said, “The price target is based on a target 2018E AFFO multiple in line with our sector average, which is warranted given the company's high-quality portfolio, but an estimated lower-than-average earnings growth.”

Health Care REIT shares were up 25 cents, or 0.40%, during early morning trading on Tuesday. The stock is up 2.37% year-to-date.