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SunTrust Robinson Humphrey cuts Welltower to 'hold'

SunTrust Robinson Humphrey Capital Markets analystEric Flemingdowngraded his investment opinion of Welltower Inc. to "hold" from "buy."

The analyst wrote in a research report: "We aredowngrading HCN … on what we view as a balanced risk/reward and a more moderatenear term growth outlook. While we view HCN as a premier brand, the portfolioand operational repositioning, along with potentially increasing pressures in2017, we think, will see performance only in-line with the overall sector. Wehave lowered our '16E-'18E FFO to better reflect the significant dispositionactivity, and maintaining what we view as an appropriate 17x multiple on ourrevised '17E FFO (a modest premium to the current valuation), have lowered ourprice target to $72 from $80."