Tag Archives: Five Star Senior Living
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
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
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
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
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
Vaccinations Raise Visibility of a Bottom in Occupancy for DHC
Diversified Healthcare Trust reported 2020 fourth quarter normalized funds from operations (FFO) (my definition) of $15.1 million or $0.06 per share, slightly better than 20Q3, but well below 19Q4. The results were modestly better than I anticipated with lower operating … Continue reading
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
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
A Reset for Senior Housing Properties Trust
In response to the financial difficulties of its primary tenant, Five Star Senior Living (FVE), Senior Housing Properties Trust (SNH) has been forced to negotiate a change in the structure of their business relationship. Specifically, SNH has agreed to cancel … Continue reading
The Old and New Five Star
Five Star Senior Living (FVE) and its landlord Senior Housing Properties Trust (SNH) have previously announced a restructuring of their commercial arrangements whereby SNH will cancel the five master leases that cover 181 senior living and skilled nursing facilities currently … Continue reading
Senior Housing Properties Trust Nears Restructuring/ Acquisition of Five Star
After reporting a 2018 fourth quarter loss of $23 million, negative EBITDA for the quarter of $12.5 million and a $51 million drawdown on its bank credit facility, it is clear that Five Star, SNH’s largest tenant, must obtain a … Continue reading
Five Star Heads Toward a Restructuring
As a result of recent operating losses, Five Star Senior Living faces a restructuring with its landlord, Senior Housing Properties Trust. Continue reading