Welltower Inc. (NYSE: WELL) continues to ramp up acquisitions to increase bottom line growth, including investment in skilled nursing facilities, with about $600 million earmarked for SNF deals in the upcoming financial quarters. The Ohio-based real estate investment trust (REIT) recently announced $2 billion in potential deals tied to the launch of an equity offering, […]
Stifel
Mixed reactions to the nursing home minimum staffing mandate continued to roll in over the weekend – along with an editorial from President Joe Biden – following a first glimpse of the proposal on Friday. As the president underlined the need for more staff to improve quality, the 24/7 provision for registered nurses (RNs) continued […]
Skilled nursing operators are sitting on capital reserves and are poised to pursue deals in the sector going forward – after being on the sidelines for much of last year with private equity buyers outbidding them. Now, these same private equity buyers are beginning to fade from the scene, and real estate investment trusts (REITs) […]
Welltower (NYSE: WELL) executives said Tuesday that its skilled nursing facilities undergoing a change of hands to new operators have gone from losing money to making profits during the course of the second quarter. CIO Nikhil Chaudhri said during Welltower’s conference call that out of 147 skilled nursing buildings that were being transitioned over to […]
Dealmaking in the long-term care sector showed a significant fall of 33% to 98 transactions in the first quarter compared to a year ago when 144 deals were reported. Skilled nursing made up 32% of the deals completed in the first quarter, according to data released Thursday by Norwalk, Conn.-based Irving Levin Associates. Assisted living […]
The Federal Reserve’s decision to raise interest rates again by 25 basis points on Wednesday will likely slow deal making in the nursing home sector, especially in the aftermath of the Silicon Valley Bank’s (SVB) closure last week and its impact on regional banks. Experts told Skilled Nursing News that it’s a good thing, however, […]
Following the Biden administration’s plans to end the public health emergency (PHE) on May 11, leaders at Ensign Group (Nasdaq: ENSG) are bullish that state assistance will create a soft landing. Ensign CEO Barry Port has seen operators in the sector bolstered by enhanced Federal Medical Assistance Percentage (FMAP) funding during the pandemic; this federally […]
Economic conditions such as tight debt markets have slowed the portfolio restructuring efforts that CareTrust REIT (NYSE: CTRE) embarked on earlier this year. However, company leadership see the scales tipping in favor of acquisitions. Currently, acquisition pricing remains tricky, as sellers are still trying to achieve “peak pricing,” CareTrust Chief Investment Officer Mark Lamb said […]
The Ensign Group (Nasdaq: ENSG) is poised to overtake Genesis HealthCare as the largest nursing home operator in the country as it continues to build upon its rapidly growing portfolio, according to ownership data released last week by the Centers for Medicare & Medicaid Services (CMS). Ensign could be the largest skilled nursing provider in […]
Lenders in the skilled nursing space are increasingly more selective with their financing, adopting stricter underwriting standards while regulatory uncertainties and reimbursement changes leave investors more reserved. There is also a more defined shift toward a buyers’ market as well, as more transactions come back across the sector, according to analysts in the space. A […]
The Centers for Medicare & Medicaid Services (CMS) went beyond what was expected in a positive way, nursing home operators say, with the SNF final rule allowing for the Patient-Driven Payment Model (PDPM) cut to be spread out over two years and a 2.7% pay bump for 2023. Wesley Rogers, president and CEO of Brickyard […]
As the year so far has brought rising inflation, the looming possibility of a recession and uncertainties around staffing stability and post-Covid demand, there are still operators — like Ensign Group (Nasdaq: ENSG) — that have continued on a path toward growth. In a note previewing 2Q earnings for the health care services industry, Stifel […]
The federal government late last week officially renewed the COVID-19 public health emergency (PHE) for an additional 90 days. The extension was to be expected for leaders in the nursing home industry as the Department of Health and Human Services (HHS) has said it would give stakeholders 60 days notice if the PHE is not […]
The Ensign Group (Nasdaq: ENSG) and its captive real estate company Standard Bearer are off to a busy start in July, adding five skilled nursing facilities and one campus to its operations and five real estate assets to the portfolio. These transactions bring the total number of acquisitions in 2022 to 21, the company’s fastest […]
The Ensign Group (Nasdaq: ENSG) is in a position to grow in select markets, while its newly-formed real estate investment trust (REIT) Standard Bearer allows the skilled nursing giant to finance other promising operators in the sector. Ensign executives discussed future M&A plans and what it looks to accomplish through its REIT during a virtual […]
Real estate investment trusts (REITs) owned about 12% of all skilled nursing assets as of 2021, equating to about 1,870 facilities. That’s according to a research letter published in JAMA Health. Researchers also examined REIT ownership trends of hospitals and other health care properties. The data comes at a time when the Biden administration and […]
Welltower Inc. (NYSE: WELL) continues to shrink its long-term care portfolio, selling seven Genesis HealthCare properties in the first quarter of this year. Overall, the senior care segment represented just 4.8% of Welltower’s total NOI in place at the end of 2021 — versus 10.1% at the end of 2020. The 530 basis point decline […]
While the skilled nursing industry faces unprecedented staffing challenges, The Ensign Group (Nasdaq: ENSG) has been able to increase its frontline workforce by 3% – a feat achieved thanks to local recruiting and retention efforts supported by the company’s regional market strategy. Ensign’s reliance on agency has also decreased — a trend CEO Barry Port […]
Proposed cuts to skilled nursing Medicare reimbursement add another layer of complexity for the skilled nursing industry as operators continue to face financial pressure. That holds true for one of the nation’s largest owners of skilled nursing facilities, LTC Properties (NYSE: LTC), as the company continues to deal with rent deferrals and abatements for its […]
As the White House blasts the role private equity and real estate investment trusts (REITs) play in the nursing home space, some industry insiders believe that the administration is confused about how ownership actually works and where problems truly lie. David Reis, CEO of Senior Care Development, described “three players at the table,” and said […]
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