NHI buys five facilities
Posted on November 20, 2009 at 8:08 amNational Health Investors has acquired four assisted-living centers in Michigan and another in Illinois for about $28 million. The seller, Kansas-based Bickford Senior Living, is leasing back the buildings for 15 years. NHI (Ticker: NHI) has shelled out nearly $90 million on acquisitions so far this year.
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Advocat still a ’show-me’ story
Posted on November 18, 2009 at 1:22 pm
Some pretty strong words from Avondale Senior Analyst Brian Williams, who is taking over coverage of Brentwood-based nursing home operator Advocat.
We do not believe shares will trade in line with its for-profit peers until Advocat can effectively demonstrate improvement in its organic operations or a willingness to pursue additional sources of earnings growth.
After failing to maintain its recent highs above $8, Advocat shares (Ticker: AVCA) are back near $6, where Williams says they should stay until the company both gets a firmer grip on expenses and finds a way to juice revenue growth, which will likely require acquisitions and outside financing.
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Fortress gets its price
Posted on November 10, 2009 at 9:01 am
But the majority owner of Brookdale Senior Living didn’t get as much as it could have just a few weeks ago. The Chicago-based private-equity group will sell 11 milion shares at $16, a fifth lower than where the stock (Ticker: BKD) traded in the middle of October.
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NHC beats estimates
Posted on November 6, 2009 at 7:55 am
Ho-hum. Another solid quarter from National HealthCare Corp., where third-quarter profits per diluted share of 74 cents handily topped analysts’ expectations. Patient days were flat, pricing was up a bit and operating profits grew almost 12 percent and a 5 percent rise in revenue.
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A little buying power?
Posted on October 28, 2009 at 7:48 amNational Healthcare Corp. (Ticker: NHC) has renewed its $75 million line of credit with Bank of America for another year. The Murfreesboro-based operator of long-term care and senior-living facilities said the available money will help it take advantage of growth opportunities in the senior care market.
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NHC to train geriatric physical therapists
Posted on October 15, 2009 at 10:01 amNational HealthCare Corp. (Ticker: NHC) has received accreditation from the American Physical Therapy Association for a clinical residency program to train geriatric clinical specialists. The senior care company said the program will help develop its staff and attract new clinicians.
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NHC director’s firm still slimming down stake
Posted on September 30, 2009 at 7:04 am
The 1818 Fund II run by investment house Brown Brothers Harriman continues to be a seller of National HealthCare Corp. shares – even though one of its principals sits on NHC’s board. The fund, which last week said it had sold about 170,000 NHC shares since the spring, on Monday dumped another $240,000 worth of its stake. NHC (Ticker: NHC) has fallen some 27 percent this year versus an 18 percent gain for the S&P 500.
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Looking for seniors who’ll part with their money?
Posted on September 21, 2009 at 1:44 pm
There are likely to be a bunch of ‘em Tuesday at Lipscomb’s Allen Arena, which will host the Expo 50 fair showcasing all kinds of products catering to the older crowd.
Products from hot tubs to walk-in tubs or a sunny vacation to a screened-in sunroom; services from Medicare advocacy groups to social opportunities will be on-hand in this gathering of senior living organizations. Entertainment, product demonstrations and informational seminars will be held throughout the day.
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Local lender funds East Tenn. nursing home
Posted on August 24, 2009 at 8:23 amThe Nashville outpost of Deutsche Bank Berkshire Mortgage has arranged funding for Trinity Senior Living to build its third nursing home in the Knoxville area.
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Money manager picks up another Advocat chunk
Posted on August 20, 2009 at 7:51 amMarlin Capital Partners has stepped up its purchasing of nursing home operator Advocat. The Texas-based money manager, which started its recent round of buying last week, snapped up another 81,000 shares of Brentwood-based Advocat (Ticker: AVCA) on Monday and Tuesday, raising its stake to 12.8 percent.
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Marlin nibbles some more at Advocat
Posted on August 18, 2009 at 7:32 amThe Texas-based money management firm Marlin Capital Partners continues to add to its stake in Advocat, buying another 9,500 shares late last week. The buying has helped of late, but shares of Brentwood-based Advocat (Ticker: AVCA) are still about 40 percent below year-ago levels.
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Big Advocat owner buys more
Posted on August 13, 2009 at 3:14 pm
Marlin Capital, the Dallas money manager that bought big into Advocat last year, has acquired a few more shares of the senior housing provider. The firm, which is represented by Chad McCurdy on Advocat’s board, now owns 11.2 percent of Advocat (Ticker: AVCA), which is up 50 percent so far this month.
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Brookdale exec trims stake
Posted on at 7:22 amCo-President and COO John Rijos sold almost 29,000 of his shares in the senior housing company (Ticker: BKD) to help him pay taxes on the vesting of some restricted shares. The sales raised about $500,000.
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Monday movers: Brookdale, Gaylord
Posted on August 10, 2009 at 10:20 amSeveral Nashville-area stocks have started their week off right, picking up on the strong end to their last week. Brookdale and Gaylord are up more than 3 percent and 5 percent, respectively.
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NHC chugs along
Posted on August 7, 2009 at 7:37 am
The Murfreesboro-based operator of nursing homes posted second-quarter profits of $9.2 million, up 26 percent from a year ago. Earnings per share came in at 67 cents, eight cents above analysts’ expectations. Pricing gains — especially on Medicare business — drove the gains, as patient days fell slightly.
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