REITs look forward to stabilizing growing portfolios in coming decade
Occupancy rates likely have bottomed out, and growth opportunities are on the rise, according to presenters yesterday at Nareit’s REITweek Investor Conference.
CareTrust REIT
Bad news: Pandemic’s effects ‘far from over’; Good news: $126.1M CCRC deal is ‘some of best real estate we’ve purchased,’ CareTrust execs say
The bad news is that pandemic’s effects on senior living “are far from over,” CareTrust REIT Chairman and CEO Greg Stapley said Friday. The good news, however, is that the $126.1 million portfolio of continuing care retirement communities that CareTrust REIT closed on in March “represents some of the best real estate we have purchased since our start seven years ago,” Chief Investment Officer Mark Lamb said.
Earnings call wrap-up: Senior living operators and REITs offer cautious optimism toward pandemic recovery
Amid a flurry of first-quarter earnings reports released last week, several senior living operators and real estate investment trusts announced a start to occupancy uptick and possible post-pandemic growth.
FY 2022 SNF reimbursement proposal could weaken rent coverage for skilled nursing REITS: Mizuho
Last week, the Center for Medicare & Medicaid Services released its 2022 fiscal year reimbursement proposal for skilled nursing facilities that includes a 1.3% boost to Medicare payments. The overall $444 million increase is substantially lower than the $750 million awarded for the 2021 fiscal year, noted an industry update analysis Monday from Mizuho Securities USA.
Parkinson: ‘Green shoots’ indicate occupancy is troughing, but pace of recovery still uncertain
The stocks of senior living and skilled nursing-focused real estate investment trusts have outperformed expectations since the first COVID-19 vaccine announcement last November raised hopes of a quick recovery. Yet despite the tremendous drop in COVID-19 cases at these facilities post vaccine rollout, challenges within both sectors still remain, Mark Parkinson, CEO of the American Healthcare Association and the National Center for Assisted Living said Tuesday during a keynote address to attendees of Mizuho’s second annual Healthcare REIT Summit.
CareTrust acquires four California CCRCs, welcomes new operator into portfolio
CareTrust REIT announced Tuesday that it purchased four California continuing care retirement communities in the upscale Southern California submarkets of Camarillo, Carlsbad, Palm Springs and San Juan Capistrano.
People in the news, Feb. 16
Appointments, promotions and news at Bridges by EPOCH, Cadence Living, CareTrust REIT, LeadingAge Illinois, Pathway Health, Sharps Compliance and Sunrise Senior Living.
CareTrust says ‘operator first’ philosophy helped it grow during ‘unprecedented headwinds’ of pandemic
CareTrust REIT’s “operator first” investment philosophy proved valuable in guiding the San Clemente, CA-based healthcare real estate investment trust successfully through the COVID-19 pandemic, executives said Thursday.
CareTrust emerges from 2020 with strong balance sheet; maintains dividends
San Clemente, CA-based CareTrust REIT reported fourth-quarter net income Wednesday of $21.1 million, or 22 cents per share, and normalized funds available for distribution of $35.7 million, or 37 cents per share, falling in line with analysts.
People in the news, Feb. 9
Appointments, promotions and news at Arrow Senior Living, Bridges by EPOCH, Buckner Calder Woods, CareTrust REIT, Commonwealth Senior Living, Enlivant, Griffin Living, Juniper Communities, Kisco Senior Living, Legacy Healthcare Services, Ryan Companies, Retirement Unlimited Inc., SA Digital, SmartLinx Solutions, Solinity, Sunrise Senior Living, Ventas and Wartburg.
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