A couple of REITs announced transactions at the end of May: a small one in North Dakota and one large deal abroad. First, North Dakota-based Edgewood Real Estate Investment Trust announced it plans to acquire a financially distressed senior living community in the town of Dickinson (western North Dakota). The seller was First International Bank […]
Last week, we looked at the price REITs paid on average for skilled nursing facilities in 2016, according to the 22nd Edition of The Senior Care Acquisition Report, compared with other buyers in the industry. But what about in seniors housing? REITs have been far more active buyers in the space, with many of the […]
When the Big Three healthcare REITs (Ventas, HCP and Welltower) largely divested their skilled nursing portfolios in the past few years, it prompted questions about the industry’s health. The exodus was kicked off in August 2015 by Ventas, which spun out most its skilled nursing/post-acute care portfolio into a separate REIT, Care Capital Properties (which […]
We were supposed to see stocks rise this month, but so far the market is down as are seniors housing stocks. So what happened to the Santa rally? While we still have a few weeks to go before the end of the year, the markets have been sinking, and almost all seniors housing and care […]
The public equity market for senior care operating companies and REITs is getting slammed, but the private investment market remains strong. The pricing disconnect continues. Public equity investors continue to slam the senior care operating companies and health care REITs. All one has to do is look at what has happened to Kindred Healthcare and […]
Just a couple of weeks after Care Capital Properties officially was spun out from Ventas and began trading on the New York Stock Exchange, the newly formed post-acute/skilled nursing facility REIT announced its first acquisition, and it was a big one. With eight skilled nursing facilities and one assisted living community and 1,174 beds in […]
Since its formation in June 2014 when it was spun out from The Ensign Group as a publicly traded REIT, CareTrust REIT has largely taken part in small one- to three-property acquisitions with prices as small as $6.6 million but never larger than $18 million. Then the REIT surprised us (and others we presume) by […]
So why does a successful CEO of a healthcare REIT leave to become the chief investment officer of a larger REIT? Since Justin Hutchens arrived at National Health Investors (NHI) in 2009, the REIT has posted positive returns in every year from 2010 on, including three years with total returns between 28.1% and 34.5%. And […]