Average sales leads per week seen by Five Star Senior Living in April were approximately half of what they typically are, and the company expects “continued deterioration” as the effects of COVID-19 continue.
Irvine, CA-based Sabra Health Care REIT declared a quarterly cash dividend of 30 cents per share of common stock Wednesday, to be paid on May 29 to common stockholders of record as of the close of business on May 18. The announcement came as the firm released its 2020 first quarter earnings results.
Senior living companies across the country have begun using the COVID-19 pandemic as an opportunity to fill workforce vacancies with employees who have been laid off from other sectors. Top candidates include displaced hotel, restaurant and retail workers.
As a result of the sale of 18 skilled nursing facilities during the second and third quarters of 2019, Five Star Senior Living announced that its senior living revenue for the fourth quarter of 2019 decreased 4.6% to $263.7 million from $276.3 million for the same period in 2018. Conversely, senior living revenue at communities the company operated continuously since Oct. 1, 2018 for the fourth quarter of 2019 in 2019 increased 1.4% to $260.4 million for the fourth quarter of 2019 from $257.0 million for the same period in 2019.
Appointments and promotions at Brookdale Senior Living, Christian Living Communities-Cappella Living Solutions, Five Star Senior Living, Pegasus Senior Living, Virginia Lutheran Homes, Waltonwood and Westminster Communities of Florida.
Twenty-two women will be inducted into the McKnight’s Women of Distinction Hall of Honor as part of the second annual class.
A total of 243 senior living communities operated by Five Star Senior Living are affected by the restructuring of business arrangements between the company and real estate investment trust Diversified Healthcare Trust (formerly Senior Housing Properties Trust) completed effective Jan. 1, the entities announced Thursday.
Real estate investment trust Senior Housing Properties Trust is on track to have $900 million in assets sold or under agreement to be sold by the end of the year, President and Chief Operating Officer Jennifer Francis said Thursday. The moves are designed to reduce leverage and position the REIT for the future.
The transaction to restructure Five Star Senior Living’s business relationship with Senior Housing Properties Trust remains on track to close on Jan. 1, Five Star CEO Katie Potter said Wednesday. In the meantime, the company is investing in workers and looking to rehab as a source of revenue and residents.
J.D. Power released the rankings of eight senior living providers as well as insights gleaned from a survey of residents, family members and friends.
