June 9, 2021, Ben Swett, The SeniorCare Investor - Census is on the rise at the SHOP portfolios of the biggest healthcare REITs. After more than a year of mostly depressing news, it is nice to see that more good news keeps on coming. With a year of canceled earnings forecasts by most public companies and REITs, Welltower announced that it raised the low end of its second-quarter earnings per share estimate by nearly 10%, and its normalized FFO by just over 4%.
Now that’s some good news! In addition, they had forecast a 130-basis point increase in their SHOP portfolio for the full second quarter, and by June 4th they had already reached 120 basis points. Spot occupancy is now 150 basis points higher than the pandemic low.
Ventas is also showing a remarkable turnaround in its SHOP portfolio. April increased by 90 basis points and May by 110 basis points. Since the pandemic low of 69.8% on March 11, census is now up 370 basis points. The U.S. portfolio is on a roll but Canada is still lagging, even though Canada is much higher at 91.1%.
This is the sort of news we are hearing from around the country, and it is great.