What a difference five days, and 3,200 miles can make, not to mention panic selling in our sector.
Well, we certainly are living in interesting times. And not fun times.
I decided to stay with my plans and went to Scotland for a bachelor party last weekend. No kidding. It was fun and was a great bonding experience with my future son-in-law. I hope he feels the same way. The return was hassle free, but it was a different country I returned to from what I left on Thursday night.
School, restaurant, store and theater closings, to mention a few, plus shelter in place orders, added to the panic. And talk about panic. Senior care and healthcare REIT stocks were pummeled more than any other sector. Yes, the 80+ population is more at risk, and we did have the unfortunate spread of the virus in a Kirkland, Washington nursing facility.
But sending REIT stocks down by more than 50%, on average, in two weeks? The same for the provider stocks? Either this is the buying opportunity of a lifetime, or we are going to see some major corporate disruption in our sector this year. I hope it is the former.
Some of you have reached out and asked if all is okay. Thank you. I am glad to say yes, all well here, other than being a little tired from the weekend, not to mention NIC the week before that. But because of four international airports and two international flights in five days, I have decided to work outside the office for the next two weeks, just to be prudent. But I will always be available, and will be monitoring what this all means for the senior care investment market. This is what I love to do. Stay tuned.