Cantor Fitzgerald analyst Joseph France reiterated a Buy rating on Senior Housing Properties Trust (NASDAQ: SNH) today and set a price target of $21. The company’s shares opened today at $18.35.
France wrote:
“. We are reiterating our $21 price target and Overweight rating, and tweaking our 2018-19 estimates following an in-line 2Q18. Equally important, in another sign of its growing interest in the medical office business, the company closed on two more senior housing transactions, including the previously announced sale for $96 million of a Sunrise senior living community in $23 million acquisition of two FVE facilities in June. Over the past two years SNH’s asset recycling program has accelerated its growth and improved liquidity, while growing its portfolio of Class A medical facilities.”
According to TipRanks.com, France is a 5-star analyst with an average return of 11.6% and a 61.8% success rate. France covers the Services sector, focusing on stocks such as Cross Country Healthcare, Five Star Quality Care, and Envision Healthcare.
Currently, the analyst consensus on Senior Housing Properties Trust is a Moderate Buy with an average price target of $20.33.
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Based on Senior Housing Properties Trust’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $54.87 million. In comparison, last year the company had a net profit of $16.04 million.
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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.
