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Senior Housing Properties Trust Announces Underwriters' Exercise of Option to Purchase Additional SharesBusiness Wire (Thu, 5:49PM)
Business Wire (Thu, 9:08AM)
Business Wire (Wed, 4:05PM)
Business Wire (Apr 2, 2014)
Business Wire (Feb 28, 2014)
Business Wire (Feb 26, 2014)
Senior Housing Properties Trust Fourth Quarter Conference Call Scheduled for Wednesday, February 26thBusiness Wire (Feb 19, 2014)
Business Wire (Jan 17, 2014)
at CNBC.com (Mar 14, 2011)
at CNBC.com (Feb 28, 2011)
SNH vs. ETF Alternatives
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.
Wednesday, Apr 165:37 PM
Wednesday, Apr 164:30 PM|Wednesday, Apr 164:30 PM| 1 Comment
Wednesday, Apr 28:46 AM|Wednesday, Apr 28:46 AM| 2 Comments
Wednesday, Mar 1912:35 PM
Wednesday, Mar 1912:35 PM| 8 Comments
- 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%).
Wednesday, Feb 268:57 AM
Wednesday, Feb 268:57 AM| Comment!
- "For a long time nobody thought a REIT could be successfully attacked, so nobody bothered," says Darren Novak, whose firm advises companies and activist investors. "If CommonWealth (CWH) falls, that perception will change."
- Activist battles and hostile takeovers in REITs are rare, write the WSJ's Robbie Whelan and Liz Hoffman, partly because of tax rules and corporate charters preventing any one investor from owning more than roughly 10% of a company's shares. Plus, REITs typically have hefty dividends, robbing activists of a typical complaint of not enough cash being returned to shareholders. Add to that the fact that REITs usually trade near book value, making it hard to argue about unlocking hidden value.
- If Corvex and Related are successful in tossing out CommonWealth REITs board and management, who might be the next target? Quickly coming to mind are Senior Housing Properties Trust (SNH), Government Property Trust (GOV), Select Income REIT (SIR), and Hospitality Properties Trust (HPT) - all also managed by the Portnoy's RMR.
- See also: Phil Goldstein's Bulldog Investors successfully pushes for faster buybacks at Javelin Mortgage.
Wednesday, Feb 268:22 AM
Wednesday, Feb 268:22 AM| Comment!
- Normalized FFO of $80.5M or $0.43 per share compares to $75.5M or $0.43 a year ago. Float at year's end was 188.2M shares vs. 176.6M at end of 2012. Full year normalized FFO per share of $1.69 falls from $1.75 in 2012.
- Since Oct. 1 company has acquired seven properties in five transactions for $56.4M. Company has one property under agreement to be purchased for price of about $1.125B.
- Continuing to focus on relying less on revenue from Medicare and Medicaid, company has for sale nine senior living communities with 708 living units and four MOBs.
- CC at 1 ET
- Press release, Q4 results
- SNH no trades premarket
Wednesday, Feb 268:03 AM
Wednesday, Feb 2612:05 AM
Tuesday, Feb 255:30 PM
Tuesday, Jan 78:28 AM
Tuesday, Jan 78:28 AM| 1 Comment
- "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.
Friday, Jan 38:06 AM|Friday, Jan 38:06 AM| Comment!
Thursday, Jan 24:10 PM
Thursday, Jan 24:10 PM| 1 Comment
- Senior Housing Properties (SNH) expects to report a gain of more than $30M on the $90M sale of two rehabilitation hospitals in Massachusetts. The rent reduction from the sale will be $9.5M per year.
- More importantly, the sale further cuts the company's exposure to facilities whose income mostly come from Medicare - now just 2% of SNH's total revenue is derived from hospitals where Medicare and Medicaid represent a majority of revenue.
- COO David Hegarty: "Now, 98% of SNHs revenues have limited exposure to government funding. We are pleased that we were able to complete the sale of these two hospitals ahead of our expected timeframe of mid-year 2014."
- Press release
Tuesday, Dec 242013, 7:30 AM
Tuesday, Dec 242013, 7:30 AM| 1 Comment
- In line with changes made to its management agreement with CommonWealth REIT, RMR (the Portnoys) amend their contracts with Senior Housing Properties (SNH) and Government Properties Trust (GOV) to try and make the interests of the managers a little closer with those of shareholders.
- The base management fee will now be paid partly in stock with the hope of increasing management's share ownership over time. Additionally, the incentive fee will be dependent on how much the stock price outperforms that of the company's competitors.
- Press release - SNH
- Press release - GOV
- The CommonWealth REIT saga
Wednesday, Dec 112013, 3:08 PM
Wednesday, Dec 112013, 3:08 PM| 23 Comments
- 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%).
Tuesday, Oct 292013, 7:07 AM
Tuesday, Oct 292013, 12:05 AM
Tuesday, Oct 292013, 12:05 AM| Comment!
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