Senior Care Valuation Market Weirdness

by | Feb 17, 2016 2:57 pm | 60 Seconds, Opinion

Asset valuations are out of whack amid continued investor appetite for properties but not companies. I will be honest, sometimes I just don’t get it. I know some of you think I do, but the level of weirdness out there is greater than I have seen in my 30 years covering this sector. In today’s world, you have a group of investors that will pay a publicly traded company $325 million for their owned properties, but the entire company, including the owned properties, has a market value of only $100 million. Healthcare REITs, the most efficient buyers and owners of real estate, are trading at yields that would make a junk bond salesman blush, even though in most cases they have a lot of good... Read More »