UPDATE: Mizuho Securities Downgrades National Health Investors (NHI) to Underperform

January 13, 2021 4:49 AM EST
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Price: $67.86 +0.43%

Rating Summary:
    1 Buy, 9 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - January 13, 2021 6:12 AM EST)

Mizuho Securities analyst Omotayo Okusanya downgraded National Health Investors (NYSE: NHI) from Neutral to Underperform with a price target of $55.00.

The analyst comments "We are downgrading NHI to Underperform from Neutral on concerns over larger senior housing operators in the portfolio, which have either tight rent coverage (see Exhibit 2B) or who have already been granted rent deferrals. We see occupancy continuing to deteriorate in the senior housing sector due to the latest COVID-19 wave and expect fundamentals to continue to deteriorate at NHI's three largest tenants which account for ~42% of annualized revenues. The likelihood of further rent deferrals and even rent abatement or lease restructurings is rising, and the earnings as well as dividend impact could be meaningful given the tenant concentration risk."

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 $66.19 yesterday.


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