Senior housing stocks trading higher on Trump's cancellation of the housing bill

研报英文原文证据摘录

Senior housing stocks trading higher on Trump's cancellation of the housing bill

RBC Capital Markets, LLC

Ben Hendrix (Analyst)

(615) 372-1323,

ben.hendrix@rbccm.com

Michael Murray, CFA (AVP)

(615) 372-1321,

michael.murray@rbccm.com

Drew Sterrett (Associate)

June 24, 2026 (615) 487-8638,

Senior housing stocks trading higher on Trump's drew.sterrett@rbccm.comRESEARCH cancellation of the housing bill

We like the momentum, but our thesis remains intact even if

ultimately passed

Our view: We attribute today's positive share price movement in BKD and SNDA to President Trump's

abrupt cancellation of the planned signing ceremony for the bipartisan housing bill, which had been

expected to be enacted into law this morning. Shares of BKD are up ~7.6% and shares of SNDA are upEQUITY ~7.6% in intra-day trading. Shares of SNF operators are also up, with ENSG +3.6% and PACS +4.1%.

Despite strong bipartisan, bicameral support for the 21st Century Road to Housing Act, Trump posted

on Truth Social that he would not sign it until Congress passes the SAVE America Act — an elections

overhaul bill that currently lacks sufficient votes in the Senate. Speaker Johnson indicated Trump is

expected to sign the housing bill within the next 10 days, though the timing remains uncertain. The

bill, had it been signed, would have reduced federal regulatory hurdles and streamlined environmental

reviews for new construction broadly, which could make it easier and faster for developers to build new

senior living facilities, ultimately increasing competitive supply.

While we are pleased to see the market react positively, we do not believe lower regulatory hurdles

would materially impair our positive senior housing thesis. Even if the country were to see a balloon