Ventas Inc (VTR)

Nursing homes. 20x FFO and 10% earnings growth.

Retirement homes have long been winners. Since 2000, shares are up 2,177%. Are #2 in this space. Boasts nearly 20% average annual gain for about 25 years. Has the lowest PE of this sector.

Run by same CEO since 1999. Up 17% this year and is slightly overbought, so buy dips and accumulate slowly. A growth, not dividend, in healthcare REITs, particularly seniors housing, a growth area for years to come.

Higher interest rates will weigh on this and other REITs. Their core business is seniors' homes, so long-term demographics are a tailwind. Their last quarter was in line, but shares were hammered. Pays a 4.3% dividend. Buy it gradually on the way down. You're paid to wait.

One of the largest healthcare REITs. They are a very well managed company. He does not recommend it simply because it is real estate. When interest rates are rising it is bad for REITs.

It is a REIT, the opposite of a bank. But it is in the health care medical niche. It recently spun off the nursing home business. It is an attractive entry point. She prefers exposure more to office than retail in REITs. She is out of retail, generally. (Analysts’ target: $64.00).

He likes the healthcare space, and this company owns medical office buildings, seniors’ homes, etc. This is generally a good business. However, being structured as a REIT, it has had a huge, huge run in share price and trades at a fairly steep valuation. It is vulnerable to interest rates coming down. He prefers Capital Senior Living (CSU-N) which trades at a much more modest valuation. Dividend yield of 4.2%.

A healthcare REIT. He owns a similar one. They are growth vehicles and trade significantly above NAV because they are constantly acquiring. The prices come off when there is a sign their acquisitions will drop off. They are looking at Canada. He thinks you are better buying companies they may want to acquire, however.

Seniors housing REIT in the US. He likes it. It has been clobbered. The decline is based on the broader US REIT index. People are getting older and you should see an increase in demand for seniors housing. You should see good rent increases. It is a little bit growth by acquisition based which is harder when you are trading at a discount.

American senior housing REIT. Nothing is broken with this company, but what they have done is announce a large transaction in Canada. If you are buying for the demographic story, you stick with it.