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Fly News Breaks for October 14, 2019
Oct 14, 2019 | 07:40 EDT
BofA/Merrill analyst Joshua Dennerlein resumed coverage of Senior Housing (SNH) with an Underperform rating and $9 price target. The analyst is positive on the rise in healthcare spending from aging demographics supporting the healthcare real estate industry, but warns about the possibility of conflicts given the REIT's external management structure as well as earnings dilution coming from asset rotation. Dennerlein also cites Senior Housing's "complicated turnaround" with its largest tenant Five Star Senior Living (FVE).
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