Getting to the Truth with COVID and Senior Care
We all know that COVID-19 was not kind to the senior care industry. But we also have to be vigilant in communicating that it wasn’t as bad as the media portrayed it to be, at least with regard to mortality rates. Even the most respected media outlets, whether in print or on television, made it sound like all senior care facilities were death traps. This was all far from the truth. The reality is that slightly more than 50% of all facilities nationwide, from skilled nursing to assisted living to independent living, never experienced a COVID death. This is according to a study by NORC at the University of Chicago sponsored by NIC. Now, if they had been able to remove from the... Read More »
Brookdale Soars on Q3 Earnings
As the largest seniors housing company, all eyes are always on Brookdale Senior Living and how it is performing. Investors seemed to like what they heard and saw after the company released its third quarter earnings report last Friday, sending the shares up by 14% to close at their highest level since August 2. Part of the good news was that the company will start issuing earnings and cash flow guidance moving forward, something that Brookdale and most other companies suspended with the onset of the pandemic. In addition, they reported their eighth straight month of census increases dating back to the bottom in February. In February, the weighted average occupancy was 69.4%... Read More »Ventas Reports an Up and Down Quarter
Several publicly traded REITs announced their third quarter earnings results at the end of last week, and the results were a mixed bag. Welltower released some very positive occupancy news, as well as four major portfolio acquisitions, signaling its confidence in the seniors housing industry. On the flip side, WELL’s total portfolio same store NOI declined 5.3% year over year, and 7.1% from the previous quarter, while its operating margins and lease coverages continued to deteriorate. For more details on the REIT’s third quarter results, read about them here. Ventas followed soon afterwards with its own earnings release, and there was also both good news and bad. The company reported its... Read More »
The Ensign Group Shines, Again
We have still not figured out how The Ensign Group continues to outperform the rest of the skilled nursing industry when so many companies and providers are still hurting, with many of them still not able to make lease payments in full. For the past year, we have wondered if the only way to perform as well as they have is to cook the books, so to speak. That idea was discarded, and while we know they operate their model with each facility run by a mini-CEO with full local decision-making responsibilities and run it successfully, we continue to scratch our heads and wonder why others can’t do what they do. It just must be the culture, but obviously, one that needs to be mimicked by others,... Read More »
Shareholders Approve Capital Senior Living Restructuring
Last Friday, Capital Senior Living announced that shareholders approved the amended agreement with Conversant Capital to provide needed funds to stabilize the company while it continues to work on increasing census, as well as funds for future growth. This involves plans to raise up to $154.8 million in various financings. This was based on preliminary vote estimates taken after the shareholder vote on Friday. The news of the presumed approval, without giving the breakdown of the voting, sent the shares up by 2.38% to close at $29.68. That is a far cry from where they traded last July. The day before they hit a low of $25.85 during the day, which was the lowest price since August 13. Keep... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
