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Inflation worries and fears surrounding the delta variant took the stock market and publicly traded senior care companies on a bit of a roller coaster the last couple of days, but we were also delighted to see some positive news come from National Health Investors.
From May to June, the REIT saw its occupancy jump across its three major operating partners. The nine SLC properties rose 50 basis points to 79.1%, Bickford’s 42 properties saw a 90-basis point increase to 78.2%, and the 26 properties operated by Holiday Retirement saw census rise by a more modest 20 basis points to rest at 74.1%.
Still a long way to go, and we’re not sure what kind of rent discounts are being offered, but these are healthy monthly gains, especially for SLC and Bickford which are up 290 basis points and 360 basis points from their respective monthly lows. Holiday is just 60 bps up from its low point measured in March, but now it is up to Atria Senior Living to oversee the recovery, and we’re sure they are full of ideas.
