Nursing home operator The Ensign Group (Nasdaq: ENSG), fresh off of a year of solid operational results that prompted another complete return of federal aid, on Thursday indicated a growing push to capitalize on the value of its owned real estate. The San Juan Capistrano, Calif.-based operator reported net income of $46.3 million in the […]
The Ensign Group
The Ensign Group (Nasdaq: ENSG) acquired the operations of the 150-bed San Pedro Manor, a skilled nursing facility in San Antonio, Texas. The acquisition was effective February 1, and will be part of a long-term, triple-net lease. The transaction brings Ensign’s portfolio to 232 health care operations, 24 of which also include assisted living, across […]
BMO Capital Markets this week downgraded its outlook for several publicly traded landlords of senior housing and skilled nursing facilities, but post-acute care emerged as a rare bright spot in the analysis — with the prediction that the sector will recover faster than its senior living counterparts. The financial services provider issued downgrades to Welltower […]
Skilled nursing heavyweight The Ensign Group (Nasdaq: ENSG) last week took over operations of the Hays Nursing and Rehabilitation Center, a 116-bed property in San Marcos, Texas. The deal expands the San Juan Capistrano, Calif.-based Ensign’s total portfolio to 228 properties across 13 states. “We are excited to strengthen our presence in the state of […]
CareTrust REIT (Nasdaq: CTRE) acquired four post-acute care facilities in the Dallas-Fort Worth area for $47.6 million, inclusive of transaction costs, in an off-market deal, the San Clemente, Calif.-based real estate investment trust (REIT) announced last week. The portfolio includes 554 skilled nursing beds and 24 assisted living beds across Beacon Harbor Healthcare & Rehabilitation […]
Senior living and skilled nursing landlord CareTrust REIT (Nasdaq: CTRE) on Friday projected a relative period of financial calm ahead for the sector as emergency Department of Health and Human Services (HHS) funding continues to insulate its tenants from serious hardships. “The HHS provider relief funds appear to be providing our skilled nursing operators with […]
The Ensign Group, Inc. (Nasdaq: ENSG) acquired the real estate and operations of the 82-bed skilled nursing facility The Medical Lodge of Amarillo in Amarillo, Texas, effective November 1. Kevin Niccum, President of Keystone Care LLC, Ensign’s Texas-based subsidiary, said in a release announcing the deal that the company expects the facility to be accretive […]
The ongoing pandemic has rightfully shifted attention away from dealmaking in the long-term and post-acute care space, but several leaders have expressed optimism that investors will support the sector moving forward — though the influx of federal cash keeping operators afloat could scramble valuation math for some time to come. With overall uncertainty in the […]
For many potential skilled nursing investors, the threat of government action — either through new regulations or wholesale changes to payment models — has represented one of the largest risks. But while COVID-19 has brought unprecedented operational strain to nursing homes across the country, leaders at major health care landlord CareTrust REIT (Nasdaq: CTRE) believe […]
One day after the federal government released tentative guidance for easing visitation restrictions at the nation’s nursing homes, the CEO of one of the top providers in the space cautioned that it’s still too early to consider widespread reopening. “We expect that to continue at least for another month or two, even though there are […]
The Ensign Group (Nasdaq: ENSG) acquired the operations of two skilled nursing facilities in Commerce City, Colo., effective March 1, the provider announced Tuesday. The two SNFs, the 105-bed Ridgeview Post Acute and the 83-bed Irondale Post Acute, will be subject to triple-net leases. “We are thrilled to add these two operations to our growing […]
The Ensign Group (Nasdaq: ENSG) on Thursday announced that its skilled nursing facilities have seen rate increases of up to 6% under the new Medicare payment model, in part helping to drive the post-acute leader to another set of record earnings. The company’s established same-store facilities achieved those 6% gains, while Ensign’s transitioning facilities — […]
The Ensign Group (Nasdaq: ENSG) picked up where it left off in 2019 with a single skilled nursing and assisted living facility acquisition in San Antonio, Texas. The San Juan Capistrano, Calif.-based nursing facility giant on Tuesday announced the purchase of The Healthcare Center at Patriot Heights, a combined facility with 59 skilled nursing beds […]
The Ensign Group (Nasdaq: ENSG) has emerged as a rare publicly traded skilled nursing powerhouse, with steady expansion across the country and persistently solid quarterly earnings numbers. But CEO Barry Port is hesitant to take the credit. Instead, he’s content to chalk up Ensign’s success to its legion of regional leaders, many of whom have […]
Since the day the new Medicare payment model for nursing homes was announced in 2018, leaders in the space have predicted a wave of sell-offs as small operators head for the exits rather than adapt. The jury remains out on the Patient-Driven Payment Model’s (PDPM) near-term effects on nursing home sales, but executives at one […]
CareTrust REIT (Nasdaq: CTRE) on Friday announced a pending $37 million deal to sell six skilled nursing facilities in Michigan after the associated operator indicated its intention to leave the buildings — and also stop paying rent during the transition. The San Clemente, Calif.-based real estate investment trust (REIT) discovered this past quarter that Metron […]
Despite spinning off a significant chunk of its business lines into a separate company this year, executives at The Ensign Group (Nasdaq: ENSG) are confident that they can continue growing at the same rate as in the past. The San Juan Capistrano, Calif.-based skilled nursing operator again turned in strong quarterly earnings stats, with increased […]
The Ensign Group (Nasdaq: ENSG) on Tuesday announced the successful completion of a plan to spin off all of its non-skilled nursing business lines into a separate company, The Pennant Group (Nasdaq: PNTG). The San Juan Capistrano, Calif.-based post-acute company’s board approved the plan at the end of August, nearly four months after it was […]
As the post-acute and long-term health care industry struggles through shortened lengths of stay and compressed reimbursements, an oasis has lingered just beyond the horizon: the so-called silver tsunami. If operators can wait out the current downturn, the thinking goes, the glut of baby boomers turning 80 and older over the coming years will be […]
Two skilled nursing facilities in Texas formerly operated by Senior Care Centers, which declared bankruptcy last year, were purchased by a New York-based owner-operator group for $20.5 million. The facilities, located in New Braunfels and in Round Rock, Texas, were each built in 2008 and have 128 licensed beds. The SNF in New Braunfels was […]
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