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Senior Housing Properties Trust (SNH)

- NYSE
  • Tue, May 5, 10:31 AM
    • A big move higher in interest rates continues, with the 10-year Treasury yield up another six basis points to 2.20% - roughly the level at which it started the year (it fell as low as 1.65% in early February).
    • The move here is small-time compared to what's going on across the pond, as the absurd levels of two weeks ago become somewhat less absurd. Ten-year Bund yields are up to 0.51% from 0.05%. Italian 10-years are up 30 bps today to 1.78%, with a similar move in Spain.
    • The IYR is down 1.1%.
    • Individual names: Realty Income (O -1.3%), Senior Housing Properties (SNH -1.5%), Medical Properties Trust (MPW -2.4%), Gramercy Property Trust (GPT -1.8%), Equity Residential (EQR -1.4%), AvalonBay (AVB -1.5%), Government Properties (GOV -2.3%), Pebblebrook Hotel (PEB -2%), Eastgroup Properties (EGP -1.6%), American Campus (ACC -1.4%).
    • Mortgage REITS (REM -0.6%) are outperforming the equity names: Annaly (NLY -0.7%), American Capital Agency (AGNC -0.6%), Two Harbors (TWO -0.7%), CYS Investments (CYS -0.3%), Invesco (IVR -0.2%).
    | 21 Comments
  • Wed, Mar. 18, 3:28 PM
    • The Fed earlier cuts its forecasts for GDP growth, inflation, and the pace of rate hikes. Alongside, it also lowered NAIRU - the level at which unemployment threatens accelerating inflation.
    • The 10-year Treasury yield is lower by 13 basis points to 1.92% following the news, sending the board averages to near-1.5% gains, but the strongest names are the equity REITs.
    • IYR +2.3%
    • National Retail Properties (NNN +3%), Spirit Realty (SRC +3.1%), Senior Housing Properties (SNH +2.1%), Healthcare Trust of America (HTA +2.9%), Equity Commonwealth (EQC +2.7%), Gramercy Property (GPT +3.2%), Post Properties (PPS +3.9%), Aimco (AIV +2.6%), Kimco (KIM +2.8%), DDR Corp (DDR +2.4%), Public Storage (PSA +2%), Government Properties (GOV +1.9%), First Potomac Realty (FPO +3%), Digital Realty Trust (DLR +1.5%), Sunstone Hotel (SHO +2%), Liberty Property (LPT +2.4%), American Campus (ACC +2.5%)
    • Previously: Day's biggest news: Fed sharply cuts "normal" unemployment rate (March 18)
    • Previously: FOMC drops "patient," but sends dovish signal (March 18)
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    | Comment!
  • Tue, Feb. 24, 3:32 PM
    • The 10-year Treasury yield has tumbled back beneath 2% amid Janet Yellen's congressional testimony and some weak economic data, but there's no bid for income favorites like equity REITs.
    • The iShares DJ U.S. Real Estate ETF (IYR -1.9%).
    • Realty Income (O -2.9%), National Retail Properties (NNN -2.7%), Senior Housing Properties (SNH -2.2%), Ventas (VTR -3.8%), HCP (HCP -3.6%), Equity Commonwealth (EQC -2.3%), Vornado (VNO -1.9%), Equity Residential (EQR -2.5%), AvalonBay (AVB -2.7%), Simon Property (SPG -1.8%), General Growth (GGP -2.1%), Kimco (KIM -3%), Sovran Self Storage (SSS -2%), Boston Properties (BXP -2%), Hospitality Properties (HPT -2.7%), LaSalle Hotel (LHO -2.8%), Liberty Property Trust (LPT -2.7%), American Campus Communities (ACC -1.7%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI
    | 40 Comments
  • Wed, Feb. 4, 11:03 AM
    • Senior Housing Properties Trust (SNH -3.7%) sells 27M shares (up from a planned 25M) at $22.20 each. The underwriter greenshoe is for another 4.05M shares at that price.
    • The immediate use of the proceeds will be to pay down the revolver and help fund pending acquisitions.
    • Source: Press Release
    | 1 Comment
  • Oct. 13, 2014, 4:19 PM
    • Both equity and mortgage REITs saw plenty of buying as nearly all of the rest of the market was lit up bright red, and Treasury ETFs signaled a sharp drop in yields when government bonds reopen for trade tomorrow (closed this session for Columbus Day).
    • A sampling of equity names: Senior Housing Properties (SNH +1.2%), Medical Properties Trust (MPW +1.4%), Gramercy Property Trust (GPT +1.7%), Equity Residential (EQR +0.7%), Inland Real Estate (IRC +0.9%), Sovran Self Storage (SSS +1.1%), Highwoods Properties Trust (HIW +1%).
    • One equity REIT sector in the red along with the rest of the market is lodging amid worsening Ebola fears: Ashford Hospitality Trust (AHT -2.9%), Sunshine Hotel Investors (SHO -1.4%), LaSalle Hotel Properties (LHO -1.5%), Summit Hotel Properties (INN -1.5%).
    • Mortgage REITs: American Capital Agency (AGNC +1.4%), CYS Investments (CYS +2.2%), Invesco (IVR +1.1%), American Capital Mortgage (MTGE +1.5%), Western Asset (WMC +1.1%).
    • ETFs: IYR, VNQ, REM, MORL, MORT, DRN, URE, REZ, SRS, RWR, SCHH, ICF, ROOF, DRV, KBWY, RTL, REK, FRI, FTY, PSR, IFNA, FNIO, WREI
    | 5 Comments
  • Jul. 2, 2014, 7:22 AM
    • Citing a preference for more economically-sensitive REIT sectors, Goldman downgrades the Healthcare REIT sector to Neutral from Attractive. Alongside the sector cut, the team downgrades Omega Healthcare Investors (OHI) to Neutral. It's off 1% premarket.
    • Among the other names in the sector: HCN, HCP, MPW, HTA, SNH, VTR, LTC, AVIV.
    | 17 Comments
  • Apr. 16, 2014, 5:37 PM
    | 1 Comment
  • Apr. 16, 2014, 4:30 PM
    • The offering size is 12M shares with underwriter greenshoe of 1.8M shares. The current float is about 188M shares.
    • SNH -4.3% AH
    • Press release
    | 1 Comment
  • Mar. 19, 2014, 12:35 PM
    • A check of other REITs externally managed by the Portnoys' Reit Management & Research - and thus possibly activist targets - finds no noticeable reaction to the dissident shareholder victory which likely means the removal of the entire CommonWealth board.
    • Hospitality Properties Trust (HPT -1.7%), Senior Housing Properties (SNH), Government Properties Income Trust (GOV -0.4%), Select Income REIT (SIR -0.8%),  RMR Real Estate Income Fund (RIF +0.1%). Other companies (not REITs managed by RMR): Five Star Quality Care (FVE -0.3%), TravelCenters of America (TA -1.2%).
    | 8 Comments
  • Jan. 7, 2014, 8:28 AM
    • "We see a company in transition with greater disposition volumes recently announced and changes to its management agreement with RMR, to name a few," says Wells Fargo, cutting Senior Housing Properties (SNH) to a Sell, with the valuation range lowered to $20-$21 from $23-$25. "While several of these changes we view favorably, further asset sales could weigh on the shares as well as limit visibility into cash flow growth in 2014."
    • The team notes SNH has had a recent history of hiking its dividend in October, but the date came and went this year without a move.
    • Shares -0.7% premarket
    • See also: Wells cuts Omega Healthcare to Sell.
    | 1 Comment
  • Dec. 11, 2013, 3:08 PM
    • The equity REITs are particularly weak today as the 10-year Treasury yield heads higher by 4 basis points to 2.85%. Senior Housing (SNH -2.3%), Omega Healthcare (OHI -2.6%), American Realty Capital (ARCP -1.7%), Stag Industrial (STAG -2%), Equity Residential (EQR -1.4%).
    • Retail and shopping center/mall REITs also have the weak retail traffic numbers to mull over: Realty Income (O -1.4%), National Retail (NNN -2.8%), Simon Property (SPG -1.4%), General Growth (GGP -2.6%), Kimco (KIM -2.6%), Brixmor (BRX -0.8%).
    | 23 Comments
  • Jul. 31, 2013, 10:39 AM
    • HCP (HCP -2.2%) slips for a 2nd day despite upping guidance in its earnings report as dour earnings call (transcript) comments from CEO Jay Flaherty are digested
    • The "pause" button for deals was hit by Bernanke's post-FOMC June comments and the subsequent fixed-income turbulence, says Flaherty, and it remains to be seen how quickly things start moving again.
    • Funding costs have gone up, but sellers' expectations of what their properties are worth haven't changed - not a good combination for getting business done.
    • Others of note: Senior Housing Properties (SNH -2.2%), Medical Properties Trust (MPW -1.8%), Omega Healthcare (OHI -1.5%).
    | Comment!
  • Jun. 12, 2013, 3:30 PM
    Renewed selling also hits equity REITs, with the Vanguard REIT ETF (VNQ -1.3%) just holding onto gains YTD; the iShares Real Estate ETF (IYR -1.4%). Among individual stocks, Realty Income (O -1.6%) is off 22% in 3 weeks; Senior Housing (SNH -2.3%), Digital Realty (DLR -4%) American Capital Realty (ARCP -2.1%), Omega Healthcare (OHI -1.7%). Among the best performers is HCP, Inc. (HCP -0.9%).
    | 9 Comments
  • Jun. 7, 2013, 2:45 PM
    Similar to a pattern seen a few times over the past few weeks, underneath a solid rally in the averages are big declines in a number of income favorites. The culprit again is falling Treasury prices, the long bond off more than a full point and yielding 3.32%. Some popular equity REITs: Equity Residential (EQR -1.3%), AvalonBay (AVB -1.4%), HCP (HCP -1.6%), Realty Income (O -2.6%), Senior Housing (SNH -2.9%), Omega Healthcare (OHI -1.3%), Government Properties (GOV -2%). Also: Continued rout in mREITs.
    | 4 Comments
  • Apr. 29, 2013, 1:09 PM
    Red-hot Senior Housing Properties Trust (SNH -2.3%) takes a breather after reporting about inline FFO of $0.43 for Q1, off $0.02 from a year ago. The company purchased 4 properties in the quarter for about $75M, plus the assumption of $12.3B in mortgage debt. Two more properties went under contract in April, each for more than $20M. A senior community in Pittsburgh is currently being offered for sale by SNH. (PR)
    | 1 Comment
  • Jan. 23, 2013, 9:58 AM
    Senior Housing Properties (SNH) -2.8% to $23.96 as it ups the size of its secondary to 10M shares from 8M and prices the deal at $23.80. The offering will increase the size of the stock float by about 6%. (PR)
    | 4 Comments
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Company Description
Senior Housing Properties Trust is a real estate investment trust. It owns and operates independent living and assisted living communities, continuing care retirement communities, nursing homes, wellness centers.
Sector: Financial
Country: United States