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 »
Seniors Housing and Care M&A Activity Inches Up in Q2:25 but Lags Behind Q2:24
The number of publicly announced seniors housing and care acquisitions in the second quarter of 2025 totaled 181 deals, based on new acquisition data from LevinPro LTC. This represents a 1.1% increase from the 179 transactions disclosed in the first quarter of 2025, but a 3.2% decrease from the 187 deals in Q2:24. Additionally, the $5.68 billion spent on Q2:25 transactions fell by 2.7% from the $5.84 billion spent on Q1:25 transactions, and rose by 134.7% from the $2.42 billion spent in the year-ago first quarter, based on disclosed prices. Stripping foreign transactions from the totals of publicly announced transactions, the second quarter of 2025 saw 133 U.S. deals, or 532 on an... Read More »Schedule a demo
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