Morgan Keegan Announces Outperform Rating on Nationwide Health Properties (NHP)

Morgan Keegan is out with a note today, where it initiated an “outperform” rating on Nationwide Health Properties (NHP). NHP is due to report its second quarter earnings next Monday, August 2. Analysts noted, “Our FFO estimate of $0.55 is in line with the First Call consensus. Our FAD estimate of $0.53 is $0.01 below the SNL consensus.” Analysts at Morgan Keegan also added, “NHP has announced a robust acquisition pace, with $291.4 million in acquisitions and an $80.1 million mortgage investment completed in the first quarter and agreements in principle for $99.5 million in investments in the second quarter. This pace could push full-year FFO and FAD above our estimates.” Morgan Keegan believes that NHP can sustain long-term growth on rent increases, operating leverage and accretive acquisitions. Shares of NHP closed yesterday at $37.48.