Ventas Sees Census Growth
When looking at the second quarter results for Ventas, it almost appears that there are a few different story lines. Take the 321 U.S. same-community SHOP portfolio. Occupancy decreased 530 basis points in the second quarter to 72.1% from the second quarter of 2020. Not great but in line with the rest of the industry. But then its Sunrise Senior Living portfolio’s spot occupancy has increased by 627 basis points from the low point in mid-March to the end of July. Although it was not a straight-line increase, an average of 156 basis points a month is great. Heck, increasing at that level every quarter would be good. Its Atria Senior Living portfolio... Read More »
Brookdale Continues To Make Progress
The one thing that has been beneficial about COVID is the enhanced reporting by the public companies. By the time they release quarterly earnings results, they have already been issuing monthly updates, mostly on occupancy, so there is rarely much of a surprise. Such was the case with Brookdale Senior Living. On the occupancy front, average occupancy in the second quarter was 90 basis points higher than in the first quarter. While we would have liked to see a better gain, census was still declining in the first quarter and didn’t really flatten out until March/April on a weighted average basis. More impressively, month-end census has increased for five consecutive months starting in March.... Read More »
Capital Senior Living Lives Another Day
It isn’t often that a company gets to report good news on two different fronts on the same day, especially in this environment. Capital Senior Living announced that June occupancy reached an average of 79.1%, up 380 basis points from its pandemic low of 75.3% this past February. We have been hearing a lot of that lately, and it is great news. Perhaps that is what Conversant Capital LLC had its eye on these past few months as it was mulling over a major investment in Capital Senior Living. It is obviously looking at the future and counting on these occupancy increases to continue. Maybe not at the same pace, but continue nonetheless. What we do not know... Read More »
Removing Financial Barriers to Boost Occupancy
Coming out of the pandemic-induced senior living financial fiasco, top on almost every provider’s mind is how to increase their census as soon as possible, and then how to do it without sacrificing operating margins. Help is on the way. For most seniors and their families, making the move into senior living is a big decision, both emotionally as well as financially. Both can be significant hurdles, but the financial side is now going to be easier to deal with, especially if you don’t want to be rushed into selling your home or selling assets to come up with cash for a large entrance-fee payment for CCRCs, or your first several months of rent. Readers may remember 20 years ago... Read More »
What Do REIT Investors Know?
Remember back in March 2020 when the financial world was falling apart, rapidly? March 18 was the bottom for most of the healthcare REIT stocks, when investors thought the pandemic might wipe out a good portion of their investment value in senior care properties. At the time, they weren’t too far off, when top-quality REITs such as Ventas plunged to market values that had not been seen in years. But it was much more of a knee-jerk panic attack based on worst-case scenarios. Hindsight is always great, isn’t it? Within two weeks, most REITs had recovered 30% to 80% of that initial loss, and then steadily rose for the rest of the year. The odd thing was that this nine-month... Read More »Schedule a demo
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