With the lowest vaccination rate among nursing home staff in the country, currently at 56.71%, Missouri’s health department is looking to provide operators some flexibility should they see a mass staff exodus ahead of President Biden’s vaccine mandate. The emergency rule, published on Friday, is meant as a precaution that will allow skilled nursing and […]
Sabra Health Care REIT
While Sabra Health Care REIT (Nasdaq: SBRA) saw occupancy improve across its portfolio in the third quarter, the real estate investment trust fell short of industry expectations as its rent revenues declined from $100.6 million in the third quarter of 2020 to $85.4 million a year later — leading to a drop in its stock […]
Sabra Health Care REIT (Nasdaq: SBRA), in a Monday statement to shareholders, said it will use an $11.9 million letter of credit to fund rent for Avamere Family of Companies from September through November. Wilsonville, Ore.-based Avamere leases 27 skilled nursing facilities and one continuing care retirement community (CCRC) with Sabra. The portfolio made up […]
Sabra Health Care REIT (Nasdaq: SBRA) during its second quarter earnings call reported a steady increase in occupancy since December of its top eight skilled nursing operators, which make up 71% of the company’s SNF rent. The Irvine, Calif.-based real estate investment trust (REIT) noted an average occupancy gain of 601 basis points from the […]
The American Health Care Association and National Center for Assisted Living (AHCA/NCAL) are making another push for the federal government to release the remainder of the Provider Relief Fund (PRF) established by the CARES Act. This comes at the heels of the organization’s most recent survey, which revealed that only a quarter of nursing homes […]
Omega Healthcare Investors (NYSE: OHI) may provide summertime rent relief to one of its skilled nursing tenants, as the delay in federal financial relief is causing strains on operators. The Florida-based operator told the Maryland-based real estate investment trust (REIT) that it would need help with its June rent, roughly $2.5 million, according to a […]
Providers can expect $10 billion of remaining CARES Act funds to go to the skilled nursing and senior living sector, according to sources at real estate investment trusts Sabra Health Care REIT (Nasdaq: SBRA) and CareTrust (Nasdaq: CTRE). About $3 billion of an $8.5 billion rural fund included in President Joe Biden’s American Rescue Plan […]
Sabra Health Care REIT CEO Rick Matros was one of the few executives willing to take a stab at predicting the recovery of skilled nursing occupancy in the first quarter of 2021, with a projection that the numbers would return to normal in the first quarter of next year. Six months into 2021, he reiterated […]
Though skilled nursing occupancy continues to tick upwards, the growth decelerated recently, which could have significant implications for the real estate investment trusts who are landlords to operators across the U.S., according to a June 6 note from BMO Capital Markets. The national data collected from nursing homes by the Centers for Medicare & Medicaid […]
Skilled nursing occupancy could be at or very near pre-pandemic levels by the first quarter of next year, Sabra Health Care REIT (Nasdaq: SBRA) CEO Rick Matros said on the real estate investment trust’s first-quarter earnings call Thursday. However, he also cautioned that his “guess is as good as anybody’s” when it comes to the […]
The federal government sent a shockwave through the post-acute and long-term care landscape earlier this month when it disclosed that the new Medicare payment model for nursing homes had increased total spending by 5% — counter to its goal of budget neutrality. But while officials mull the ways that the Patient-Driven Payment Model (PDPM) could […]
As the federal government’s approach toward nursing homes and COVID-19 continues to shift from emergency support to reflection and reform, analysts are increasingly warning that the coronavirus-era gravy train could soon come to an abrupt stop. In particular, the past week has brought three pieces of news that may signal trouble ahead for operators and […]
Home health operators aren’t the only players in post-acute and long-term care looking to capitalize on a weakened skilled nursing sector: As health systems and managed care insurers look to adapt their offerings to the post-COVID tastes of their patients, home health providers may find themselves with significant regulatory and payment tailwinds as they work […]
The COVID-19 vaccines being distributed in skilled nursing and long-term care facilities constitute a light at the end of the tunnel, at least in terms of the clinical ravages inflicted in SNFs and other institutional settings. But it’s far from clear what effect that will have on the number of patients and residents in those […]
Senior housing and care operators that had been struggling prior to the COVID-19 pandemic may need permanent rent cuts of 30% to survive in the long term, a top financial ratings agency noted — but even that hit is unlikely to hurt one of the top landlords in the sector. Fitch Ratings on Monday upgraded its […]
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 […]
The skilled nursing sector has been roiled by the pandemic, but it’s also proven itself to be a critical part of the care continuum for patients coming out of a hospital stay. For Rick Matros, the CEO of the Irvine, Ca.-based real estate investment trust Sabra Health Care REIT (Nasdaq: SBRA), that won’t necessarily be […]
General improvements in access to testing and vital protective gear have put skilled nursing facilities in a better spot than the springtime, a top landlord in the space asserted Tuesday, but operators and investors shouldn’t necessarily expect complete adoption of a long-awaited vaccine when it hits the market. And although Sabra Health Care REIT (Nasdaq: […]
Sabra Health Care REIT (Nasdaq: SBRA) this week became the latest landlord to change its accounting for nursing home tenants Genesis HealthCare (NYSE: GEN) and Signature HealthCARE, writing off $14.3 million of non-cash rent receivables associated with the operators. The real estate investment trust (REIT) cited concerns about Genesis and Signature’s operational futures in the […]
With a presidential election less than a week away and a pandemic still raging out of control in many parts of this country, the post-acute and long-term health care landscape finds itself on the brink of what could be both a brutal and potentially transformative winter. A shift in power in Washington could bring new […]