CareTrust REIT Acquires 4 California CCRCs for $126.1 Million

After spending most of 2019 pruning its portfolio, CareTrust REIT (Nasdaq: CTRE) is adding senior housing to its asset mix. The San Clemente, California-based health care real estate investment trust on Tuesday announced the acquisition of four rental continuing care retirement communities (CCRC) in Southern California, as well as a new operator relationship. The campuses […]

Movers & Shakers: CareTrust’s New President; Kisco Hires National Environmental Health and Safety Director

Movers & Shakers is brought to you by the Senior Housing News Job Board. Browse and apply to management and executive senior living jobs and positions from leading professional firms serving the industry. Employers can post single jobs, purchase job packages or our premium subscription that includes unlimited job posts and editorial coverage for one […]

BMO Capital Markets: Senior Housing Faces ‘Elongated Recovery’ Through 2025

Senior housing’s post-coronavirus recovery may take longer than some expect, with cash flows and occupancy not returning to pre-pandemic levels until 2025. That is according to a new report on the sector from BMO Capital Markets (NYSE: BMO). The Toronto-based investment bank and financial services firm, using proprietary modeling, studied historic market net absorption trends […]

The Bottom Line: CFO Nurtures Pennant’s Entrepreneurial Spirit in Covid-19 Battle

The Pennant Group (Nasdaq: PNTG) was already contending with transitional headwinds related to its spinoff from the Ensign Group (Nasdaq: ENSG) when the coronavirus pandemic added further pressures to operations and liquidity. Compared to other operators, however, the Eagle, Idaho-based provider was able to ride out occupancy declines in the outbreak’s early weeks and reported […]

Pennant Group Sits on $9.9M in CARES Act Money; Managing Covid-19 Pressures

As with other publicly traded owners, The Pennant Group (Nasdaq: PNTG) has been under pressure from the coronavirus pandemic since mid-March. The Eagle, Idaho-based owner is now seeing an uptick in home health census this month, as well as stabilization in its senior housing occupancy, and believes these trends can continue throughout the second quarter, […]

CareTrust Prunes Portfolio in Q3, With Eye Toward 2020 Growth

CareTrust REIT (Nasdaq: CTRE) has spent most of 2019 doing some “spring cleaning” of its portfolio of long-term care facilities — including its senior housing assets — and focused on restructuring its portfolio and transitioning operators in the third quarter with an eye toward future growth in 2020 and beyond. “After five years, a lot […]

Transactions & Financings: CareTrust’s Memory Care Expansion; SNH-Five Star Restructuring

CareTrust expands memory care portfolio with $12.5M California acquisition CareTrust REIT (Nasdaq: CTRE) added to its portfolio of memory care communities with the $12.5 million acquisition of Vista del Lago, a 42-unit/96-bed community in San Diego. The seller was Torrey Pines Development Group. The Cushman & Wakefield Senior Housing Capital Markets team of Vice Chairman […]

Ensign Names CFO for Pennant Group Spinoff

The Ensign Group (Nasdaq: ENSG) hired a new chief financial officer for its coming senior living, home health and hospice spinoff. The Mission Viejo, California-based owner and operator on Tuesday named Jennifer Freeman as CFO of The Pennant Group. She was previously in the same role at Cornerstone Healthcare, Ensign’s home health and hospice arm, […]

Ensign to Spin Off Senior Living, Home Health, Hospice Into New Company

The Ensign Group, Inc. (Nasdaq: ENSG) is separating its home health, hospice and nearly all of its senior living businesses into a separate publicly-traded company called The Pennant Group. After the spinoff is finalized, it’s expected that Pennant — which is itself currently a wholly owned subsidiary of Mission Viejo, California-based Ensign — will consist […]

Tracking CEO Compensation at Public Senior Living Companies in 2017

The top executives behind some of the largest publicly traded senior living owners and operators in the U.S. took home a pretty penny last year. In 2017, leaders at real estate investment trusts Ventas (NYSE: VTR), Welltower Inc. (NYSE: WELL), and HCP, Inc. (NYSE: HCP) earned the most in total compensation, a catch-all term that includes base […]