Skilled Nursing Rents 10% Too High, Analysts Say

Skilled nursing rents must decline by about 10% across the board in order to ensure the facilities’ long-term stability, a Wednesday report from Green Street Advisors has concluded. Real estate investment trusts (REITs) must achieve rent coverage of around 1.9 times to achieve stability for their tenants, the real estate research firm’s analysts Lukas Hartwich […]

Ensign Group Touts ‘Enormous Organic Growth’ Potential for Skilled Nursing Properties

The Ensign Group (Nasdaq: ENSG) turned in yet another upbeat quarterly earnings call last week, emphasizing its improved turnaround strategies for underperforming skilled nursing facilities and its strong partnership with landlord CareTrust REIT (Nasdaq: CTRE). CEO Christopher Christensen touted Ensign’s progress on bolstering operations at buildings the Mission Viejo, Calif.-based operator took over in 2017 […]

Ensign Group Buys Office Building in California

The Ensign Group (Nasdaq: ENSG) this week announced the acquisition of a new office building for its Service Center employees. The 115,000-square-foot space in San Juan Capistrano, Calif. will replace a leased space in Mission Viejo, Calif., where the skilled nursing provider is currently based. “After considering dozens of possibilities over the last 18 months, […]

Ensign Points to Managed Care Growth as Reason for Occupancy Gains

The Ensign Group (Nasdaq: ENSG) reported sunny skilled nursing stats during the first quarter of 2018, with strong gains in both revenue and occupancy. The Mission Viejo, Calif.-based operator pulled in $46.2 million in income from its transitional and skilled services channel, a boost of 45.3% from the first quarter of 2017 and a 15.7% […]

Ohio SNF Sells for $11M; StoneGate Adds Eight New Oklahoma Contracts

StoneGate Announces Eight New Contracts in Oklahoma StoneGate Senior Living, a senior care and housing company based in Lewisville, Texas, added eight new properties to its lineup in Oklahoma, contracted from Southwest Healthcare. The communities offer a range of services, including skilled nursing and rehabilitation. As a result of the additions, StoneGate now contracts with […]

Quick Handoff Brings 7 Former Kindred SNFs to Cascadia, CareTrust

By October 1, Cascadia Healthcare will operate all seven of the skilled nursing facilities previously run by Kindred Healthcare (NYSE: KND) in Idaho — but its new landlord isn’t the company that agreed to buy Kindred’s entire SNF portfolio at the end of June. The Eagle, Idaho-based Cascadia will lease the seven former Kindred SNFs […]

Skilled Nursing Transactions: CareTrust REIT Expands in Four States

Capital One Provides $16.3 Million Loan to Refinance PruittHealth SNF Portfolio  Capital One announced that it provided a $16.3 million loan to PruittHealth to refinance a portfolio of three skilled nursing facilities (SNFs) and an intermediate care facility for individuals with developmental disabilities (ICF-MR) in Georgia, as well as a SNF in North Carolina. Four […]

Highest Paid Chief Executives in Skilled Nursing

Though many of the chief executives behind some of the biggest public skilled nursing companies in the U.S. made millions of dollars last year, some earned more than others. Company leaders at Quality Care Properties (NYSE: QCP), Kindred Healthcare (NYSE: KND), and Omega Healthcare Investors (NYSE: OHI) made the most in total compensation in 2016 — […]