60 Seconds with Swett: Welltower Increases Guidance
Welltower came out with a business update for June, and there was some good news on the financial front, particularly in regard to labor cost trends. First, the REIT was able to raise guidance for both its 2023 net income attributable to common stockholders and 2023 normalized FFO on the back of better-than-expected operating results in its SHOP portfolio and a bolstered balance sheet. Operationally, the REIT reported that same-store RevPOR continued to grow at a faster rate than ExpPOR in the first quarter of this year, the fifth consecutive quarter of margin expansion. This was helped in part by agency labor expense as a percentage of total compensation dropping to 3.4% in the first... Read More »
Diversified Healthcare Trust – Not So Fast
It has been nearly two months since Diversified Healthcare Trust announced its merger with Office Properties Income Trust, two REITs basically controlled by external manager RMR Group. This was about the most self-serving transaction we have seen in a long time. But at least one DHC shareholder is not going to stand by. Flat Footed LLC, which with its affiliates owns about 7.4% of DHC’s shares, wants shareholders to vote against the deal, believing DHC should be (will be) worth between $9 and $10 per share if they let their SHOP portfolio continue to improve. The shares closed May 31 at $1.36 per share. That is a huge valuation differential, and it all seems to rest on DHC’s management’s... Read More »
60 Seconds with Steve Monroe: A Win For Providers
We all know that the Life Care Centers of America nursing home in Kirkland, Washington was the location of the first major SNF outbreak of COVID at the beginning of the pandemic. Well, the families of two residents who died sued the facility, the management company and some employees for negligence. As I have stated too many times, this early in the pandemic no one really knew what was going on, no one understood the severity, and no one knew what to do with the early cases, if they even had test kits, and to be held liable for deaths in those early weeks did not seem to make sense. While the jury found that the company was not at fault for the deaths of the two women, the jury found... Read More »
60 Seconds with Swett: The Keys to Retirement Success
Last week, a partnership between Age Wave and Edward Jones conducted a survey with The Harris Poll, getting more than 12,000 respondents, the majority of which were retirees and pre-retirees, to answer questions on the keys to success in retirement. With Edward Jones as one of the initiators of the survey, being a major financial advisory firm, you could bet that one of the main takeaways was going to be the importance of financial preparedness for retirees. Indeed, the report revealed that six in 10 Americans who plan to retire believe they can afford a comfortable and secure retirement lasting more than 10 years. To that we would just say what about the other 40%, a significant portion... Read More »
ServingIntel Serves Up New AI Platform
AI is on the minds of many these days, and its seemingly limitless capabilities in the not-too-far future are creating both hope and angst among the public. Certainly, in health care, the possibilities of making care better, more efficient and more effective are an exciting prospect. And we are still in the early days of it. One company, ServingIntel, is launching a new AI platform designed specifically for senior living communities. Already serving communities across the country and in Canada with point-of-sale and robotics technology that helps provide higher resident satisfaction, increased revenue and enhanced staff productivity, ServingIntel has now created Ruby AI. With... Read More »Schedule a demo
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