BMO Capital lowered the firm’s price target on Ventas to $51 from $52 but keeps an Outperform rating on the shares. Given a 40% decline in Kindred profitability since FY21 largely due to labor costs, a rent cut is possible, the analyst tells investors in a research note. The firm adds however that Ventas has an experienced management team with a high-quality diversified portfolio, and while a post-COVID recovery hasn’t been linear, BMO is bullish on senior housing with accelerating demographic driven demand and moderate supply.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on VTR:
- Pinterest upgraded, Dollar General downgraded: Wall Street’s top analyst calls
- Ventas downgraded to Outperform from Strong Buy at Raymond James
- Investor Activism Shakes Up Ventas (NYSE:VTR) Again
- Land & Buildings seeks board changes at Ventas again, WSJ reports
- Ventas price target raised to $47 from $45 at Morgan Stanley