In a report released today, Bryan Maher from B.Riley FBR maintained a Buy rating on Senior Housing Properties Trust (SNH), with a price target of $13. The company’s shares closed on Friday at $8.15, close to its 52-week low of $7.77.
Maher wrote:
“We are lowering our 2019-2021 estimates modestly as we further refine our model following 1Q19 results, along with significant expected asset sales and the material change in the REITs relationship with Living (FVE). Trust (SNH) reported 1Q19 results that missed our expectations. Adjusted EBITDA was $140.9M, slightly above the consensus estimate of $140.8M, but below our $145.0M estimate. Normalized FFO/share was $0.37, below our/consensus estimate of $0.39. The miss to our estimates was mostly due to higher than expected property operating expenses ($117.2M vs. our $112.3M estimate), driven mainly by wage/benefit increases.”
According to TipRanks.com, Maher is a 1-star analyst with an average return of -0.3% and a 49.1% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Office Properties Income Trust, and Braemar Hotels & Resorts Inc.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Senior Housing Properties Trust with a $10.33 average price target.
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The company has a one-year high of $19.18 and a one-year low of $7.77. Currently, Senior Housing Properties Trust has an average volume of 2.99M.
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Senior Housing Properties Trust is a real estate investment trust, which engages in the ownership of senior living communities, medical office buildings, and wellness centers. It operates through the following segments: Triple Net Leased Senior Living Communities, Managed Senior Living Communities, MOBs and All Other.
