RBC Capital initiated coverage on Nationwide Health Properties (NASDAQ:NHP) with a Sector Perform rating and a $15.00 price target. The stock trades at $14.86, near its 52-week high of $15.09, following a 12% gain over the past week.
The firm sees the company well-positioned to increase SHOP concentration via capital recycling, boosting near-term earnings as SHOP occupancy trends toward 90% over several years.
RBC also noted the middle-market focus may limit long-term organic growth versus public REIT peers. Analyst Michael Carroll issued the report.
In other news, Goldman Sachs initiated with a Buy and $20 target, Baird at Outperform and $17, BMO at Market Perform and $17, and Morgan Stanley at Equalweight with a $16 target. The annual meeting elected directors through 2027.
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