Sonida Senior Living initiated with an Overweight at Cantor on AFFO growth

As previously reported, Cantor Fitzgerald analyst Richard Anderson initiated coverage of Sonida Senior Living (SNDA) with an Overweight rating and $36 price target calling it a “relevant-sized yet smaller-cap” company in the Senior Housing Operating segment. The C-corporation “may fill a unique void for investors to own mostly pure-play SHOP platforms that offer a smaller base from which to grow,” says the analyst, who thinks the company’s owner/operator model may offer operating and cash-flow retention flexibility not available under a REIT structure. The firm estimates 2027 AFFO growth of 28.2%, the analyst added.