KeyBanc Starts National Health Investors (NHI) at Hold; Earnings Upside From External Growth, But Concerns Remain
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Price: $72.95 +2.36%
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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KeyBanc initiates coverage on National Health Investors (NYSE: NHI) with a Hold.
KeyBanc analyst says, "Our thesis: External growth upside, solid SNF credit, fairly valued. In the context of an improving economy in 2012, we expect NHI to outperform its health care REIT peers but underperform REITs overall. In our view, the Company offers investors two advantages over other health care REITs. First, we expect NHI to generate substantial earnings upside from accretive investments in 2012...Although uncertainty has recently eased somewhat, we see continued risk of additional government reimbursement and other health care spending cuts. These cuts could negatively impact NHI's property valuations and NAV, as well as the credit of its health care operator tenants."
"We are establishing 2012 and 2013 FFO estimates for NHI of $3.10 and $3.25 per share, respectively."
For an analyst ratings summary and ratings history on National Health Investors click here. For more ratings news on National Health Investors click here.
Shares of National Health Investors closed at $43.50 yesterday.
KeyBanc analyst says, "Our thesis: External growth upside, solid SNF credit, fairly valued. In the context of an improving economy in 2012, we expect NHI to outperform its health care REIT peers but underperform REITs overall. In our view, the Company offers investors two advantages over other health care REITs. First, we expect NHI to generate substantial earnings upside from accretive investments in 2012...Although uncertainty has recently eased somewhat, we see continued risk of additional government reimbursement and other health care spending cuts. These cuts could negatively impact NHI's property valuations and NAV, as well as the credit of its health care operator tenants."
"We are establishing 2012 and 2013 FFO estimates for NHI of $3.10 and $3.25 per share, respectively."
For an analyst ratings summary and ratings history on National Health Investors click here. For more ratings news on National Health Investors click here.
Shares of National Health Investors closed at $43.50 yesterday.
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