Real estate investment trusts (REITs) with significant exposure to senior housing could be facing a “sharp, prolonged deterioration in credit metrics,” rating agency Moody’s stated in a report issued Wednesday. In particular, these REITs run the risk of rent deferrals and other types of restructurings if shelter in place restrictions related to the coronavirus pandemic […]
Welltower
Covid-19 presents enormous challenges for senior living providers across the country, but the pandemic is hitting operators in the current epicenters of New York and New Jersey particularly hard. As of the afternoon of April 20, total Covid-19 cases in New York state were approaching 243,000, while New Jersey’s cases were above 85,300. By comparison, […]
Welltower (NYSE: WELL) on Thursday took steps to keep its top three executives together for the foreseeable future. Executive Vice President and Chief Investment Officer Shankh Mitra was promoted to COO and vice chair of the Toledo, Ohio-based health care REIT. Mitra will also retain his chief investment officer title. CFO Tim McHugh, meanwhile, was […]
Compared to assisted living and memory care, independent living and active adult communities can be harder to secure during the coronavirus pandemic. The better health, mobility and independent nature of their census can make social distancing a bigger ask, and the leaner staffing necessary to operate these communities means residents have less support in the […]
Capital Senior Living (NYSE: CSU) took another step toward stabilizing its balance sheet. Capital reached rent forbearance agreements with two of its real estate investment trust (REIT) landlords — Toledo, Ohio-based Welltower (NYSE: WELL) and Chicago-based Ventas (NYSE: VTR), the Dallas-based operator announced in an SEC Form 8-K filing on Monday. Additionally, Capital agreed to […]
Senior housing-related stocks fell sharply on Thursday amid a dramatic market plunge tied to coronavirus fears. The Dow Jones Industrial Average was down 10% at market close, in the worst drop for the index since “Black Monday” in 1987. The Nasdaq composite was down 9.4% at the close. Several senior housing-related stocks fell even more […]
The rapid spread of Covid-19 is putting new communities at risk every day — and providers across the country should prepare for an outbreak near them sooner rather than later. As of Wednesday, almost 53% of roughly 33,000 U.S. senior housing and care communities in the U.S. are located in or adjacent to a county […]
After hitting a skilled nursing and rehabilitation facility hard, COVID-19 has continued to spread throughout the Seattle area, with a community that provides independent living and assisted living reporting that a resident has tested positive. On March 6, Era Living learned that a resident of its Ida Culver House Ravenna community received a presumptive positive […]
Senior living providers across the country are taking steps to guard against COVID-19 and have protocols in place should the novel coronavirus infect residents or staff members. But the situation is most urgent for providers with a significant footprint in Washington state, where the first U.S. coronavirus deaths occurred and where the virus has already […]
As the senior care industry braces for the worst with the global coronavirus outbreak, the largest of the “Big 3” health care REITs believes the industry is better prepared for the flu strain than others. Though the senior living industry is bracing for the challenges posed by a potential coronavirus outbreak, COVID-19 could show the […]
Subscribe
Receive industry updates and breaking news from SHN