A week after the sector’s largest companies reported first-quarter earnings, several analysts have shared their views on how healthcare real estate investment trusts are faring amidst the ongoing COVID-19 pandemic, according to an S&P Global Market Intelligence article.
One of the positive effects arising from this pandemic, some industry leaders say, is a growing appreciation of senior living among people whose parents are the age of prospective residents.
Healthpeak Properties’s senior housing operators are feeling the effects of COVID-19, but pent-up demand should help occupancy rebound as the pandemic eases, top executives predicted Wednesday on the real estate investment trust’s first-quarter earnings call.
Healthpeak sells West Palm Beach, FL, senior housing facility at huge discount … Genesis Healthcare founder dies of coronavirus … NIC founder Bob Kramer launches senior advisory services firm … CareTrust REIT to hold annual meeting virtually
In response to COVID-19 protocols, sheltering in place and reduced in-person tours, the rate of move-ins within Healthpeak Properties’ seniors housing and continuing care retirement community portfolio declined by 41% since February, and 50% in the past year. That’s according to an investor presentation released Tuesday about the ongoing impact of COVID-19 on the firm.
Occupancy at senior living communities potentially could fall by half in the next year if move-ins come to a halt as a result of the coronavirus pandemic, according to BMO Capital Markets.
U.S. stocks closed ahead on Tuesday, buoyed by optimism about the government’s response to the coronavirus crisis and reports of a potential Senate vote Wednesday on the stimulus bill.
Provisions in a multi-billion dollar bill to provide coronavirus-related relief to workers would “significantly curtail our caregiver workforce” and must be addressed, Argentum President and CEO James Balda and American Seniors Housing Association President David Schless said Monday in a letter to House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell.
Dallas-based Capital Senior Living has reached agreements to terminate its master leases with real estate investment trusts Ventas and Welltower, the operator announced Monday.
Healthpeak Properties reports that it sees varying amounts of risk from the COVID-19 outbreak across its business segments, according to a presentation posted Monday on the company’s website. Company executives categorized its medical office building, life science and hospital segments at lower financial risk and its senior housing operating properties at an increased risk. Its triple-net and continuing care retirement community are at moderate risk, the company said.
