Ratings on (AHII) (CA) (HCN) (MMYT) (NVDA) Downgraded

Ratings on Animal Health International, Inc. (NASDAQ: AHII), CA Tech (NYSE: CA), Health Care REIT (NYSE: HCN) and Makemytrip Limited (NASDAQ: MMYT) and NVIDIA (NASDAQ: NVDA) were downgraded by analysts.

Robert W. Baird downgraded Animal Health International, Inc. (AHII) from an “outperform” rating to a “neutral” rating. They have a price target of $4.00 on the company.

Raymond James (NYSE:RJF) downgraded CA Tech (CA) from a “buy” rating to a “market perform” rating.

Jefferies (NYSE:JEF) downgraded Health Care REIT (HCN) to an “overweight” rating.

Lazard Capital downgraded Makemytrip Limited (MMYT) from a “buy” rating to a “neutral” rating.

Needham & Company downgraded NVIDIA (NVDA) from a “buy” rating to a “hold” rating.

Health Care REIT (NYSE:HCN) Misses on Earnings

Health Care REIT (NYSE:HCN) missed in its quarterly earnings by 3 cents a share, generating 70 cents a diluted share, down from 75 cents a diluted share. Analysts had been looking for 73 cents a share.

Revenue came in at $255 million for the quarter.

“Health Care REIT remains on target to deliver strong 2011 earnings growth of 8-11%,” commented George L. Chapman, Health Care REIT’s Chairman, Chief Executive Officer and President. “We recently closed the Genesis HealthCare and Benchmark Senior Living transactions on or ahead of schedule. These closings allowed us to recently raise our 2011 FFO guidance by seven cents as these transactions will be immediately accretive to earnings. The $7 billion of new partnerships formed in 2010 and 2011-to-date demonstrates the successful execution of our relationship investment strategy and positions the company for a strong period of earnings and dividend growth over the next several years,” said Health Care leadership.

Major competitors of Health Care REIT include Nationwide Health Properties Inc. (NYSE:NHP), HCP, Inc. (NYSE:HCP), Ventas, Inc. (NYSE:VTR), Universal Health Realty Income Trust (NYSE:UHT), Omega Healthcare Investors, Inc. (NYSE:OHI), National Health Investors Inc (NYSE:NHI), LTC Properties, Inc. (NYSE:LTC), Senior Housing Properties Trust (NYSE:SNH), Healthcare Realty Trust Inc. (NYSE:HR) and Medical Properties Trust, Inc. (NYSE:MPW)

Health Care Reit was trading at $53.05, falling $1.01, or 1.87 percent, as of 12:21 PM EDT.

Dividend Yields for (FTR) (HCN) (WIN) (CTL) (T) (VZ)

Indicated dividend yields for Standard & Poor's 500 Index companies Frontier Communications Corp (FTR), Health Care REIT Inc (HCN), Windstream Corp (WIN), CenturyLink Inc (CTL), AT&T Inc (T) and Verizon Communications Inc (VZ).

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Frontier Communications Corp (FTR) has a dividend yield of 9.06 percent on a declared dividend of $0.19. The payout ratio is 405.2 percent.

Health Care REIT Inc (HCN) has a dividend yield of 5.32 percent on a declared dividend of $0.71. The payout ratio is 115.3 percent.

Windstream Corp (WIN) has a dividend yield of 7.81 percent on a declared dividend of $0.25. The payout ratio is 167.6 percent.

CenturyLink Inc (CTL) has a dividend yield of 7.11 percent on a declared dividend of $0.72. The payout ratio is 97.3 percent.

AT&T Inc (T) has a dividend yield of 5.53 percent on a declared dividend of $0.43. The payout ratio is 74.5 percent.

Verizon Communications Inc (VZ) has a dividend yield of 5.16 percent on a declared dividend of $0.49. The payout ratio is 95.9 percent.

Health Care REIT (NYSE:HCN) Deserves Premium Valuation Says Jefferies

Jefferies reiterated their "Buy" rating on Health Care REIT (NYSE:HCN), saying warrant a premium valuation.

"HCN has one of the most complete platforms in the healthcare REIT sector. In our opinion, this warrants a premium valuation, yet HCN trades at or below industry average valuation multiples," said Jefferies.

Jefferies did lower their FFO and revenue estimates on the company for full year 2011 from $3.32/$723.6 to $3.20/$788.6. For full year 2012, they changed them from $3.55/$837.2 to $3.48/$914.4.

Health Care REIT traded at $45.60 at the close Wednesday, dropping $0.68, or 1.47 percent. Jefferies lowered their price target on them from $55 to $54.

Trading volume was about 9 times more than the daily 3-month average.