An analysis released Wednesday from investment banking firm Mizuho Securities USA includes a downgrade of real estate investment trust National Health Investors to “underperform” from “neutral.” The change stems from concerns around the larger senior housing operators in NHI’s portfolio, which either have tight rent coverage or already have been granted rent deferrals.
Omega reinstates dividend reinvestment and optional cash purchase … Most companies favor supporting parents of young children over employees who care for aging parents, spouses or other adult loved ones: S&P Global/AARP survey … Long-term care COVID-19 vaccination rollout has begun … Alliant Capital closes on $130M low-income housing tax credit fund that will help create and preserve about 1,100 units of affordable housing for seniors and families across 8 states … JASA Corp. receives $74.5M in FHA Section 223(f) refinancing for New York affordable seniors housing community … Monticello provides $20M in financing for acquisition of SNFs in Kansas and Ohio … Sequoia Living opens senior living community in Walnut Creek, CA
As Nareit’s REITworld: 2020 Annual Conference wrapped up last week, analysts at Mizuho Securities USA say they remain positive on the skilled nursing sector given the promising vaccine news, strong government support of the industry and an improving acquisitions outlook. And although the vaccine news also is a major positive for senior housing, analysts also worry that the recent rally in the sector’s stocks may be reflecting a far rosier recovery than likely is to occur, and that the 2021 earnings outlook may disappoint.
Omega Healthcare Investors and Maplewood Senior Living hope to open their Manhattan high-rise assisted living and memory care community “as soon as possible,” Omega Chief Corporate Development Officer Steven Insoft said Friday on the real estate investment trust’s third-quarter earnings call. Executives also discussed the effects of the pandemic on development and acquisitions.
Omega Healthcare Investors exceeded the expectations of some analysts in the third quarter, reporting adjusted funds from operations of 82 cents per share in its third-quarter earnings report on Thursday, beating the 79 cents per share predicted by Mizuho Securities USA. The Hunt Valley, MC-based real estate investment trust also benefited from a healthy 99% contractual rent and mortgage payment collections during the third quarter and into October, even despite its previously announced $142 million non-recurring write-down of primarily straight-line receivables and lease inducements related to struggling tenants.
The qualified audits of skilled nursing operators Genesis Healthcare and Signature Healthcare have raised concern about the sector among some investors. But one investment banking firm is predicting strong third-quarter earnings for skilled nursing focused real estate investment trusts such as Omega Healthcare Investors and Sabra Health Care REIT. That’s according to an analysis in GlobeSt.com this week.
Omega Healthcare Investors announced Thursday that it will move to a cash-basis accounting method for tenants Genesis Healthcare and Agemo Holdings LLC (f/k/a Signature Healthcare). The move comes as Omega was informed by the two firms of doubt regarding their ability to continue as a “going concern” in relation to the uncertainty around future cash flows caused by the COVID-19 pandemic.
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.
Senior living and skilled nursing communities in Omega Healthcare Investors’ portfolio are weathering the effects of COVID-19 through declining occupancy and significantly elevated costs, according to executives on a first quarter earnings call.
Historically, investors have often viewed independent and assisted living communities — most often paid for out-of-pocket by residents — as safer bets than skilled nursing facilities, which generally are paid for via government programs such as Medicare and Medicaid. So they encouraged operators in their senior housing portfolios to engage in efforts to attract private-pay residents. The COVID-19 pandemic may be turning that assumption on its head, according to an article published Thursday by The Motley Fool. This could be good news SNF-focused real estate investment trust Omega Healthcare Investors.
