Analyst Connor Siversky predicts OHI and NHI's rent coverage will increase due to improving portfolio metrics. However, he doubts VTR's senior housing portfolio improvement will offset high leverage and limited investment opportunities. He also suggests OHI's dividend will be covered in late 2024, and NHI is set to drive growth with a strong liquidity profile.
CEO Taylor Pickett predicts ongoing impact on earnings due to restructuring in Q1 and Q2 of 2024, with improvements expected as operator issues are resolved. The company's first annual adjusted FFO guidance since the pandemic forecasts 2024 AFFO per share at $2.70-$2.80, against the $2.79 consensus.
The company's struggling tenants are a concern, and a dividend cut is expected. The company's growth, momentum, and revisions are rated poorly by Seeking Alpha's Quant Rating system. Despite this, SA analysts give the stock a Buy rating.