Sonida Senior Living (SNDA) owner-operator model and favorable senior housing industry fundamentals position the company for continued growth, RBC Capital Markets said in a report Monday.

After hosting the company's executives for a non-deal roadshow in Chicago last week, the firm said management expects resident rate growth to "remain healthy," supported by strong demand in "attractive suburban markets," high occupancy and investments in "resident experience," while the company's "Sonida Performance Insight Navigator" operating platform continues to improve labor efficiency and reduce employee turnover, according to the report.

The company's management also said integration of the 69 communities acquired through the CNL Healthcare Properties transaction remains "on track," with $13 million in initial cost synergies already realized and its full first-year "synergy target" unchanged, the report said.

RBC has an outperform rating on Sonida Senior Living and raised its price target to $48 from $45.

Price: 39.67, Change: +0.63, Percent Change: +1.63