Senior Housing Sector Is Reviving, Analyst Forecasts Growth For National Health Investors
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst Juan C. Sanabria upgraded National Health Investors, Inc. (NYSE:NHI) from Market Perform to Outperform, maintaining a price forecast of $67. The upgrade is based on potential for multiple expansions, upside to earnings from SHOP and acquisitions, and a solid start to FY24. Sanabria highlights the company's low leverage, strong 4Q23 occupancy, and forecasts FY24 SHOP same-store net operating income growth of +30% y/y. The company's conservative balance sheet, expanding acquisition opportunity set, and solid management are also noted as positive factors.
March 12, 2024 | 6:59 pm
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National Health Investors, Inc. upgraded to Outperform by BMO Capital with a maintained price forecast of $67, based on potential earnings growth from SHOP and acquisitions, and a strong start to FY24.
The upgrade by BMO Capital Markets is a strong positive signal for investors, indicating a bullish outlook on NHI's future performance. The emphasis on earnings growth from SHOP and acquisitions, combined with a strong start to FY24, suggests potential for stock price appreciation. The maintained price forecast of $67, compared to the current trading price of $59.44, implies a significant upside. The analyst's confidence in the company's low leverage, strong occupancy rates, and solid management further supports the positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100