JPMorgan Chase & Co. (NYSE:JPM) is slashing price targets on four popular real estate investment trusts (REITs) as recession fears continue to weigh heavily on the market. While REITs are often looked at as a resilient asset class and a hedge against inflation, the Real Estate Select Sector SPDR Fund (NYSE:XLRE) is performing right in line with the SPDR S&P 500 ETF Trust (NYSE:SPY): both down about 21% for the year.

According to data from Benzinga Pro, JPMorgan updated its ratings on the four REITs as follows:

Extra Space Storage, Inc. (NASDAQ:EXR) received an upgrade from neutral to overweight, but its price target was lowered from $224 per share to $193 per share.

Brixmor Property Group Inc (NYSE:BRX) received an upgrade from neutral to overweight, with its price target lowered slightly from $27 per share to $25 per share.

Welltower Inc (NYSE:WELL) received an upgrade from neutral to overweight, but its price target was lowered from $94 per share to $89 per share.

Medical Properties Trust Inc (NYSE:MPW) was downgraded from overweight to neutral and its price target was lowered from $24 per share to $18 per share, which still predicts upside of nearly 23% over the next 12 months.

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