Medical Properties Trust (MPW) stock received an upgrade to Buy from Colliers Securities with a $6.5 price target. Truist Securities maintained a Hold rating but raised its price target to $6. The upgrade follows a global settlement with tenant Steward Health Care System, secured lenders, and unsecured creditors. The settlement covers 23 hospitals, with 15 already leased to new tenants. Despite anticipated earnings dilution, analysts remain optimistic about the long-term prospects of MPW.
Braemar Hotels & Resorts Inc. (NYSE: BHR) has announced the release date for its third-quarter financial results. The company will release its earnings report on November 6th and host a conference call on November 7th to discuss the results.
AGNC Investment Corp.’s recent equity pricing moves have slightly improved the safety of the preferred shares but have not done much for common share returns. The company’s tangible book value per share has shown improvement, and its 5.7% economic return metric was strong in the first quarter of 2024. However, AGNC’s leverage has inched up, and the company’s hedges on interest costs will eventually run out. Additionally, AGNC has been issuing equity at a high rate, which has diluted the potential upside for common shareholders. While the spread between mortgage-backed securities and Treasuries is currently favorable, AGNC’s longer-term track record suggests caution. The company’s preferred shares, particularly AGNCL, offer an interesting security with a wide spread to Treasuries.
