Monday’s Massacre

Providers got hurt in Monday’s stock market massacre, but healthcare REITs across the board suffered. We all know that Monday’s massacre in the stock market affected almost all companies. In our sector, the focus has been on providers, since they take care of the highest-risk people as this coronavirus/Covid-19 epidemic spreads. The unprecedented 2,013-point drop […]

CareTrust REIT’s Bountiful Acquisition

CareTrust REIT just bought an assisted living community in Bountiful, Utah, leasing it to Bayshire LLC, which will take over operations going forward. Built in 1999, the 62-unit community is well situated on the campus of Lake View Hospital, an affiliate of MountainStar Healthcare and HCA Healthcare. It was previously owned by the not-for-profit South Davis Community Hospital Campus, but was sold so South Davis could focus on its […]

CareTrust REIT Adds Escondido Community to Portfolio

San Clemente, California-based CareTrust REIT acquired a memory care community in nearby Escondido (located about 20 miles north of San Diego) and retained the in-place operator Bayshire, LLC, which has managed the property for the seller since 2016. Originally built in 1981 as a skilled nursing facility, the property was converted to memory care and […]

How Have the REIT Stocks Performed in 2019?

Last week, we discussed the stock performance of the seniors housing and healthcare providers. Now, it’s the healthcare REITs’ turn. Overall, it was a good first half of the year, with all of them posting price increases, with the exception of Senior Housing Properties Trust, reflecting its Five Star problems. Its share price tumbled by […]

CareTrust Invests in Idaho

CareTrust REIT and Cascadia Healthcare expanded their relationship to 12 facilities and 1,013 total beds with the REIT’s acquisition of a brand-new transitional care facility in Nampa, Idaho. This transaction was by no means out of the blue. Cascadia’s development affiliate opened the 99-bed facility in 2017, but before that, CareTrust had made a preferred […]

The Ensign Group to Split Up

Talk about a surprise move. The Ensign Group announced that it will be spinning out its home health and hospice business and substantially all of its senior living operations, plus its mobile diagnostic and clinical lab operations, into a separate publicly traded company called The Pennant Group. Ensign will become a stand-alone skilled nursing company […]