Sabra Health Care REIT - McKnight's Senior Living

Sabra Health Care REIT

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Vaccine news boosts analysts’ views on skilled nursing; concerns remain around future of seniors housing: Mizuho

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.

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Sabra: Consumer ‘pandemic fatigue’ hurting senior living occupancy

Operating during the coronavirus pandemic has become the “new normal” for senior housing providers, with infection control protocols and restrictions that can be adapted based on local and state regulations and virus levels. Prospective residents and their families, however, have “transitioned from pandemic fear to pandemic fatigue,” with “quite significant” effects on occupancy, Sabra Health Care REIT Executive Vice President, Chief Investment Officer and Treasurer Talya Nevo-Hacohen said Friday.

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Ventas, Sabra exceed analysts’ third-quarter expectations, but continued occupancy concerns loom

Chicago-based Ventas reported third-quarter funds from operations of 75 cents per share Friday, coming in above analysts’ expectations for the real estate investment trust but still 22% lower than a year ago. Not surprisingly, the real estate investment trust’s senior housing properties continue to be significantly affected by the COVID-19 pandemic, with same-property earnings declining 42% in the quarter. Much of this decline was driven by lower occupancy rates and higher COVID-19-related expenses.

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Concerns over skilled nursing REITs ‘overblown’: Mizuho

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.

‘Going concern’ doubts raised by Genesis, Signature prompt write-down by Omega, potential write-off by Sabra

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.

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