VTR Should I Buy

Goldman Sachs initiated coverage of Ventas with a Buy rating and $94 price target. Channel checks and modeling point to meaningful upside in senior housing occupancy, RevPOR, and margins, though gains are likely capped longer term by vacancy, affordability, and supply, while also improving cash flow visibility for NNN structures and senior housing REIT investment opportunities, the analyst tells investors in a research note. In contrast, lab space demand is expected to recover slowly into 2027, and Ventas' strategic shift toward greater SHOP exposure positions it to capture uncapped operating NOI upside versus traditional triple-net leases, the firm says.