Two investment firms provided opposite takes on the stocks of publicly traded real estate investment trusts (REITs) with skilled nursing portfolios, with Mizuho Securities USA downgrading two of the REITs and Jefferies upgrading the same two firms. The two REITs involved were Omega Healthcare Investors (NYSE: OHI) and Sabra Health Care REIT (Nasdaq: SBRA). “We […]
Omega Healthcare Investors
Of all the systemic flaws that led to the still-unfolding disaster in American nursing homes, the design of the buildings themselves stands among the most plainly visible. Shared rooms where residents live up to four abreast, with double occupancy still the norm in most facilities. Communal bathrooms where, in addition to suffering the indignity of […]
Eagle Arc Partners, formerly known as BM Eagle Holdings, has acquired 20 skilled nursing facilities — the majority of which are located in Florida, along with properties in Georgia and Mississippi. The price of the sale was not disclosed; two operators who were also not disclosed partnered with Eagle Arc on the sale. The process […]
Omega Healthcare Investors (NYSE: OHI) collected 99% of its contractual rents for the third quarter of 2020, but stressed the ongoing importance of government support for the long-term care sector as critical to operators’ ability to treat and care for residents during the COVID-19 pandemic. “We reiterate that the timely and significant government support provided […]
In the months leading up to the implementation of a new Medicare payment model for skilled nursing facilities, various voices predicted an exodus of smaller, mom-and-pop operators who’d rather call it a career than adapt to a completely new reimbursement system. But only a few months after the Patient-Driven Payment Model (PDPM) took effect last […]
Major skilled nursing landlords are likely to institute rent reductions over the course of 2021 in order to help keep them afloat, according to Fitch Ratings — but the effect won’t be equally felt across all operators. In affirming twin BBB- ratings for Omega Healthcare Investors (NYSE: OHI) and National Health Investors (NYSE: NHI), Fitch […]
Omega Healthcare Investors (NYSE: OHI) on Thursday announced that it will begin recording revenues associated with tenants Genesis HealthCare (NYSE: GEN) and Agemo Holdings LLC — the legal name for its portfolio of buildings operated by Signature HealthCARE — on a cash basis, citing concerns about the nursing home operators’ future. As a result, the […]
Omega Healthcare Investors (NYSE: OHI) reported that it collected 99% of contractual rent and mortgage payments for the month of July, with the exception of one skilled nursing operator that had been struggling well before the COVID-19 pandemic hit — a testament to the various financial aids provided by state and local governments. But Omega […]
The deadline for nursing home industry stakeholders to apply for a spot on the federal government’s special commission on safety and quality passed last weekend, but not everyone who threw their hats into the ring will win a seat — and the problems facing the industry run deeper than any one group could solve in […]
When Congress set aside $175 billion in aid for health care facilities affected by the COVID-19 pandemic, the federal agencies in charge of doling out those dollars elected to prioritize speed over structure, sending cash influxes directly to providers with little advance warning or fanfare. On one level, this strategy makes sense. In the midst […]
Executives at Omega Healthcare Investors (NYSE: OHI) on Tuesday struck an upbeat tone about the long-term prospects of the skilled nursing marketplace, but with COVID-19 raging through more than a quarter of the company’s buildings, the real estate investment trust (REIT) emphasized that any kind of normalcy remains somewhere in the future. “The nursing home […]
Most of the real estate investment trusts (REITs) with holdings in skilled nursing and senior housing facilities can weather the financial strains caused by COVID-19, a major credit rating agency affirmed this week — but only if current trends hold. Various REITs have responded to the pressures of the coronavirus pandemic by taking steps to […]
Another skilled nursing facility in the state of Washington has reported an outbreak of COVID-19, the disease caused by the novel coronavirus that is sweeping the globe — resulting in major declines in the stock prices of several real estate investment trusts (REITs) with holdings in the skilled nursing and senior housing sectors. That facility, […]
The stock market was rocked on Monday by a combination of factors, including concerns about the novel coronavirus, with a sharp downturn Monday morning triggering a temporary halt on trading — and the Dow Jones Industrial Average, the S&P 500, and the Nasdaq all ending the day down more than 7%. But even though the […]
After multiple quarters of struggles with operator Daybreak Venture, Omega Healthcare Investors (NYSE: OHI) on Thursday announced a plan to largely purge the provider’s buildings from its portfolio. “During the course of the next several quarters, Omega anticipates transitioning, either through re-leases or sales, the vast majority of Daybreak’s existing Omega facilities,” chief operating officer […]
The first round of earnings calls these past two weeks revealed few firm outcomes related to the new Medicare payment model for nursing homes, but one provider was identified as potentially ahead of the curve: Signature HealthCARE. Omega Healthcare Investors (NYSE: OHI) chief investment officer Robert Stephenson on Wednesday praised Signature, one of its tenants, […]
Despite showing long-term optimism about Daybreak Venture, executives at Omega Healthcare Investors (NYSE: OHI) on Wednesday revealed an ongoing plan to replace the struggling skilled nursing operator at many of its facilities in Texas. The two parties have mutually agreed to work toward a deal that would “selectively downsize” Daybreak’s footprint across the Lone Star […]
Omega Healthcare Investors (NYSE: OHI) on Tuesday announced the formal completion of a $735 million deal to acquire 58 skilled nursing facilities — with Consulate Health Care confirmed the primary operator involved in the transaction. First announced back in August, the deal closed on October 31, and saw the real estate investment trust (REIT) acquire […]
Predictions that the Patient-Driven Payment Model (PDPM) will trigger a wave of skilled nursing M&A action either have not yet taken hold or won’t come true until the new year, according to multiple players who spoke to SNN on Wednesday. The burden of extra work related to more stringent quality data requirements and reimbursement changes […]
A group of long-term care veterans led by former AVIV REIT chairman Craig Bernfield are launching a new private company to acquire, develop, and lease skilled nursing facilities and assisted living properties. Hana2.0 Property Group will initially focus on those two property types equally, co-president Jeff Marshall told Skilled Nursing News Tuesday. The company will […]
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