Senior Housing Properties Trust (SNH): Raising PT After Management Meetings - Jefferies
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Jefferies analyst, Omotayo Okusanya, reiterated his Buy rating on shares of Senior Housing Properties Trust (NASDAQ: SNH) after taking SNH on a recent NDR to the West Coast.
The analyst still sees upside to SNH's stock based on the following catalysts:
1) the equity overhang on the stock disappears
2) SNH increases its already attractive dividend
3) upward revisions to NAV should SNH successfully joint-venture its MOB campus (leased to Vertex) in Boston.
The PT increases to $25 (from $21), in line with a positively revised NAV/sh estimate.
Shares of Senior Housing Properties Trust closed at $21.43 yesterday.
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