Jpmorgan analyst Michael W. Mueller announced various ratings changes during the company’s quarterly cre -update.
The analyst has upgraded Sales Inc. VTR From neutral to overweight and increased the company’s price target in December 2025 to $ 72 from $ 70.
Mueller mentioned robust internal and external growth, including double -numerical net business income profits and a steady pace of acquisitions, as important factors that support a positive prospect for normalized FFO per stock growth.
The analyst noted that Ventas seems more attractive compared to Peer Welltower, especially on an implicit cap -speed base, although the growth potential can be slightly lower.
Although external growth has been delayed in the wider Reit sector, Mueller said that Ventas’s constant success as a relative outperformer.
The price objective reflects updates from the financial model of the analyst, which now includes improved visibility of growth. The revised target is based on a dividend discount model, based on a growth rate of 5.25% long-term, an AFFO payment ratio of 95% and an imperfection base of a high 8%.
Mueller downgraded Americold Realty Trust Inc. COLD From overweight to neutral and lowered the company’s price target in December 2025 to $ 21 from $ 24.
The analyst mentioned weaker transit volumes and lower occupancy rate as an important headwind that limit the performance in the short term. Despite the trade with considerably lower EBITDA-VOVERS than last year, offering long-term revaluation potential-remains the investor sentiment focused on current operational pressure.
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The reduced price target reflects lower profit estimates and the application of a higher discount rate of 11.5% in the company’s DCF model, underlining increased uncertainty and the expectations of the tempered growth. A recovery is projected in 2026, depending on improved macro -economic conditions.
Mueller downgraded Federal Realty Investment Trust Frt Neutral of overweight and a price target of December 2025 of $ 108.
The analyst mentioned a reduced focus on development and redevelopment projects – currently important growth factors for various other Retail -REITs – as a reason for the downgrade.
He also noted that investors take a cautious attitude in the direction of the strategy of FRT to enter newer markets, such as Kansas City, by repeling high -quality assets. This hinge can take time to deliver visible operational benefits.
Given the current macro-economic background, the sentiment has shifted in favor of supermarket-worshiped and neighborhood-oriented Reit’s, which are considered more defensively compared to the portfolio of FRT.
The aim of $ 108 from JPMorgan is based on a discount model with a discount with a 4.4% long -term growth rate, a payment ratio of 95% and a misconception foot of high 8%.
Mueller downgraded Lineage Inc. LINE Underweight from neutral and reduces the price target of the company 2025 to $ 50 of $ 55.
The analyst noticed a broader preference for other Reit sectors and shares, despite the long-term employees of the line platform.
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He pointed out that the cold storage segment is currently confronted with lower transit volumes, which create occupancy rate and prices that probably influence the short -term performance.
The analyst also marked that the AFFO per share of the Lineage 2025 per share falls below the low side of the management guidelines, while the growth in 2026 is expected to be limited by the Rentelatie delivery.
The revised price target of $ 50 is based on a dividend discount model with a growth rate of 5.3% long-term, 95% AFFO expensation ratio and a discount rate of approximately 10.75%.
Prize actions: During the publication on Monday, VTR shares were traded by 1.63 by $ 63.47, the cold by 0.12% rose by $ 16.81, FRT decreased by 0.13% to $ 95.28 and De Lijn rose by 0.69% to $ 45.07.
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