Category Archives: FVE

AlerisLife (ALR) 22Q1 Update

22Q1 Loss of $0.30 in Line with Expectations; Katie Potter Steps Down as CEO; ALR Hires Alvarez & Marsal to Conduct a Comprehensive Operational Review AlerisLife reported a 22Q1 net loss of $9.7 million or $0.31 per diluted share, slightly … Continue reading

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AlerisLife (ALR) 21Q4 Update

Lowering Estimates and Safety Rating, Withdrawing Performance Rating and Price Target AlerisLife Inc. (ALR), formerly known as Five Star Senior Living, reported a fourth quarter net loss of $10.7 million or $0.34 per share, slightly worse than the third quarter’s … Continue reading

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DHC 21Q3 Results

Diversified Healthcare Trust (DHC) reported 21Q3 normalized FFO of –$0.04 per share, compared with 21Q2’s $0.05.  The loss came despite a 40 bp improvement in SHOP occupancy.  Operating costs remain high and senior living operators are discounting resident rates more … Continue reading

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Five Star Senior Living 21Q3 Update

Again Lowering EPS Estimates; Reducing 6-12 Month PT and Maintaining Outperform Rating Five Star reported a third quarter net loss of $10.2 million or $0.32 per share, less than the second quarter’s loss of $12.3 million or $0.39 per share.  … Continue reading

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DHC 21Q2 Update

Progress on Strategic Repositioning; Performance in Line with Expectations; Upgrading Performance Rating; Maintaining Price Target of ~$7.50. DHC reported 21Q2 normalized funds from operations (FFO) of $12.2 million or $0.05 per share, lower than 20Q2’s $0.25, due mostly to a … Continue reading

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Five Star Senior Living 21Q2 Update

Five Star reported a second quarter net loss of $12.3 million, reversing last year’s $3.0 million net profit.  On a per share basis, the loss was $0.39, compared to net income of $0.10 and below my estimate of a loss … Continue reading

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Five Star Alters Strategy, Its Stock Gets Slammed

In early April, Five Star announced a change in its strategy whereby it will transition out of the management of 108 smaller senior living communities (SLCs) with 7,500 living units (with an average of 69.4 units per community), close and … Continue reading

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Five Star and DHC Restructure Their Agreement

On April 9, Five Star and DHC announced a restructuring of their management agreement whereby DHC will transition the management of 108 smaller senior living communities (SLCs) with a total of 7,500 units to other operators by the end of … Continue reading

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Five Star Senior Living (FVE) Update

Vaccination of 90% of Residents Raises Visibility on a Rebound in Occupancy Five Star reported slightly stronger 20Q4 results than anticipated, due primarily to gains on investments held by its captive insurer.  Average occupancy across its owned and leased senior … Continue reading

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Five Star’s Strong Stock Performance Could Signal Quicker Turnaround

Five Star Senior Living continues to cope with the effects of the COVID-19 pandemic on its operations.  During the 2020 second quarter, it experienced a 3.8% decline in occupancy from 82.5% to 78.7% across its owned and managed senior living … Continue reading

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