02:05 PM EDT, 05/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our target by $2 to $52 on a forward P/FFO of 16.5x our 2024 FFO estimate, a premium to VTR's 15.5x 10-year average due to favorable demographic tailwinds driving strong growth in the senior housing portfolio. We raise our 2024 FFO estimate by $0.02 to $3.17 and keep 2025's at $3.40. VTR posted Q1 2024 FFO of $0.78 vs. $0.74, a $0.04 consensus beat. Same-store cash NOI rose 7% Y/Y, driven by Senior Housing Operating (SHO, +15% Y/Y) and Outpatient Medical and Research (OMR, +5% Y/Y), partially offset by Triple-Net (-2% Y/Y). Positive supply/demand trends continue to lead to strong pricing power within SHO, as occupancy rose 240 bps Y/Y to 84.6% while revenue per occupied room increased 5% Y/Y to $4,963. Stronger OMR results were driven by an improvement in the life sciences market as new leasing pipeline rose 30%, with occupancy rising 110 bps Y/Y, offsetting the 40-bp occupancy decline within medical office (91.3%). VTR lowered leverage to 6.7x vs. 6.9x Q/Q and maintained interest coverage of 3.8x.