Truist analyst Michael Lewis raised the firm’s price target on National Health Investors (NHI) to $78 from $65 and keeps a Hold rating on the shares. Following a 9c per share beat versus the firm’s model in Q2, which was mostly driven by higher deferred rent collection, the firm is increasing its 2024 FFO estimate to $4.54 from $4.40 per share. However, with the stock up 44% year-to-date versus 7% for the Vanguard REIT Index Fund (VNQ), the firm thinks “it is difficult to chase it now,” the analyst tells investors.
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