Sonida Sees Slight Census Growth
Sonida Senior Living continues its upward occupancy march and announced some positive operations news in its latest earnings report, but its growth was curbed somewhat in the second quarter, at least on a year-over-year basis. First, with the good news, Sonida reported the July end of period spot occupancy for the same-store communities was 88.2%, which is a record high and increased 60 basis points versus June. However, weighted average occupancy for Sonida’s same-store portfolio only increased 40 basis points to 86.5% in the second quarter of 2025 from 86.1% in Q2:24. In the earnings call, President and CEO Brandon Ribar commented that they had seen an “unusually high uptick in... Read More »
Brookdale Misses Revenue Targets, Again
Brookdale Senior Living continues to slap investors and analysts around, missing consensus revenue targets for the fourth quarter in a row. We know, never rely on “consensus” anything, but the company seems to always disappoint, even now when everything should be rallying. Investors did not like what they heard and sent shares tumbling by 10% in early trading, with some recovery later in the morning. It was not all bad news, of course. Occupancy continues to rise, with weighted average occupancy over 80% in the second quarter, a key benchmark, and same-community occupancy rose to 80.7% in the second quarter, up 190 basis points year over year and up 70 basis points sequentially.... Read More »
LTC Properties and Sabra Up Their Guidance
With $400 million of new investments now included in its guidance, LTC Properties upped its forecast for the rest of the year. Its SHOP portfolio will more than double in size as the REIT transforms itself from a mostly triple-net lease orientation to a more diversified investor, taking advantage of improving operating metrics. Over the next 60 days, LTC expects to close about $320 million in new investments, of which $60 million is a five-year mortgage loan at 8.25%. When these investments close, LTC’s SHOP portfolio will represent nearly 20% of the total portfolio. Net income, FFO and FAD guidance were all increased. Sabra Health Care REIT also increased its guidance based on new... Read More »
Omega Beats Estimates
Omega Healthcare Investors released its second quarter results, beating estimates and demonstrating resilience amid the bankruptcy of Genesis Healthcare, one of the largest skilled nursing operators in the country. The REIT reported AFFO of $0.77 per common share, which was above the estimate of $0.75. Revenue also came in higher than expected, totaling $282.5 million as opposed to the projected $240.6 million. Omega completed approximately $527 million in new investments during the quarter, including $502 million in real estate acquisitions. The company purchased 45 facilities in the U.K. and Jersey for £259.8 million (approximately $344.2 million). The facilities were leased to... Read More »Another Solid Quarter For Ventas
On the heels of Welltower’s blockbuster second quarter earnings report, Ventas turned in another solid performance as well. Same-community, SHOP occupancy jumped by 240 basis points year over year to 87.6%, NOI margin increased by 130 basis points to 28.4%, cash NOI increased 13.3% and RevPOR was up by 5.3%. The U.S. portfolio had a 290-basis point census increase, led by secondary markets that jumped by 360 basis points year over year. The Canadian portfolio, which was already over 95% occupied, held back the total increase but jumped by 80 basis points. How much higher can it really go? Ventas has made $1.1 billion in new seniors housing investments year to date, and that led management... Read More »Schedule a demo
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