Pennant Group - McKnight's Senior Living

Pennant Group

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Pennant puts acquisitions on hold for senior living but not home health, hospice

In the midst of a “challenging operating environment” for senior living, The Pennant Group does not plan to allocate capital for acquisitions in the sector in the near term “as our leaders focus their efforts on navigating the challenges of the pandemic and driving improved results in our existing buildings,” Chairman and CEO Danny Walker said Thursday on the holding company’s fourth-quarter and full-year 2020 earnings call.

Invesque suspends dividends; Pennant maintains 2020 guidance

Invesque announced several moves Wednesday to preserve cash and strengthen the company’s balance sheet. These included the suspension of its dividend for common shareholders, executive compensation and personnel cost reductions and a deferral of all non-essential capital expenditures. The announcements came as the real estate investment trust reported its 2020 first-quarter earnings. Invesque reported funds from operations of 25 cents per share for the quarter, up one cent year-over-year.

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