Senior Housing Sector Is Reviving, Analyst Forecasts Growth For National Health Investors
Senior Housing Sector Is Reviving, Analyst Forecasts Growth For National Health Investors
BMO Capital Markets analyst Juan C. Sanabria upgraded National Health Investors, Inc. (NYSE:NHI) from Market Perform to Outperform, maintaining the price forecast of $67.
BMO资本市场分析师胡安·萨纳布里亚将国民健康投资者公司（纽约证券交易所代码：NHI）从市场表现上调至跑赢大盘，维持67美元的价格预测。
Sanabria sees the potential for multiple expansions for the company, with upside to earnings driven primarily by SHOP and acquisitions.
萨纳布里亚认为公司有可能进行多次扩张，收益的上行主要是由商店和收购推动的。
Acquisitions also represent an opportunity with $150 million of debt firepower, given National Health Investors' low leverage (4.4X net debt/EBITDA).
鉴于国家健康投资者的低杠杆率（净债务/息税折旧摊销前利润为4.4倍），收购也是一个拥有1.5亿美元债务火力的机会。
The analyst keeps a more constructive stance on the company's SHOP portfolio given the recent strong 4Q23 occupancy and a solid start to '24 despite typical seasonal trends.
鉴于最近的23年第四季度入住率强劲，尽管有典型的季节性趋势，但24年的开局良好，分析师对公司的SHOP投资组合保持了更具建设性的立场。
Sanabria forecasts FY24 SHOP same-store net operating income growth of +30% y/y (guidance 25-30%), above peer's guidance.
萨纳布里亚预测，24财年SHOP同店净营业收入同比增长30％（预期为25-30％），高于同行的预期。
The midpoint of the company's SSNOI guidance conservatively implies only +1.8% growth off fourth quarter 2023 annualized levels, the analyst adds.
分析师补充说，保守地说，该公司SSNOI指导的中点意味着仅比2023年第四季度的年化水平增长了1.8％。
After a quiet 2023, Sanabria sees acquisitions picking up amidst financial distress, which aren't assumed in guidance.
在经历了平静的2023年之后，萨纳布里亚在财务困境中看到收购回升，而指导中并未假设这一点。
Overall, the company has a conservative balance sheet, an expanding acquisition opportunity set and a solid management team with an operational background.
总体而言，该公司的资产负债表保守，收购机会不断扩大，管理团队具有运营背景。
The analyst writes that senior housing tenant issues have been addressed, major SNF tenants remain well-positioned, while SHOP has finally turned the corner and risks are fading.
这位分析师写道，高级住房租户问题已经得到解决，SNF的主要租户仍然处于有利地位，而SHOP终于转危为安，风险正在减弱。
Price Action: NHI shares are trading higher by 0.74% to $59.44 on the last check Tuesday.
价格走势：在周二的最后一次支票中，NHI股价上涨0.74％，至59.44美元。
Photo via Shutterstock
照片来自 Shutterstock