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National Health Investors (NHI) collects 77.5% of May Rents
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National Health Investors (NHI - Free Report) , or NHI, has collected 77.5% of monthly due contractual cash as of May 20, 2021. This compares unfavorably with 84.7% of April rent collected at its first-quarter earnings release on May 10.
Nonetheless, of the remaining uncollected rent balance for May, the company expects to collect 2% of contractual cash, while 0.6% relates to lower projected revenues from properties that were transitioned before the start of the pandemic.
Also, 7.5% and 1.5% of uncollected rent are rent deferrals relating to Bickford Senior Living and two other tenants, respectively. Specifically, NHI has agreed to defer $2 million in rent due for May 2021 from Bickford. With this, deferred rents related to the tenant aggregated $8.75 million for the ongoing year. Nonetheless, the deferred rents are anticipated to be repaid with interest. Moreover, NHI will defer $0.4 million for two other tenants in May. This too is expected to be paid back with interest.
Lastly, 10.9% of the uncollected rent balance relates to Holiday Retirement's monthly rent. Particularly, NHI is in discussions with Holiday Retirement that could lead to rent concessions, beginning second-quarter 2021. Nonetheless, NHI expects to collect a notable part of the current monthly rent from the tenant, which may be supported with a portion of its $10.6-million lease deposit.
In an update provided in its first-quarter 2021 earnings, NHI announced that it received 84.7% of contractual cash for April, with the remaining balance comprising 11% in Bickford-related deferrals, 3.1% in deferrals related to three other tenants, 0.6% related to due rent expected to be collected and another 0.6% of uncollected rent resulting from lower anticipated revenues from transitioned properties prior to the pandemic.
Considering this, from Apr 1, 2021, till May 20, 2021, NHI has collected 81.5% of contractual cash due for the second quarter and expects to collect another 1%. The uncollected balance comprises 9.3% and 2.3% in deferrals related to Bickford and three other tenants, respectively.
Also, 0.5% of uncollected rent relates to lower estimated revenues from transitioned properties prior to the start of the pandemic, while 5.4% is related to Holiday's monthly rent.
Notably, while acceleration in vaccinations and the reopening of the company’s communities have aided a rebound in occupancy, any significant turnaround is less likely in the near term.
Industrial Logistics Properties Trust’s (ILPT - Free Report) funds from operations (“FFO”) per share estimate for the current year has moved up 4.5% to $1.87 in the past month. The company currently carries a Zacks Rank of 2 (Buy).
OUTFRONT Media Inc.’s (OUT - Free Report) Zacks Consensus Estimate for 2021 FFO per share has moved marginally north to 89 cents over the past month. The company currently carries a Zacks Rank of 2.
Braemar Hotels & Resorts Inc. (BHR - Free Report) carries a Zacks Rank of 2 at present. The Zacks Consensus Estimate for the ongoing year’s FFO per share has been revised around 38% upward in a month to 44 cents.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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The only question is “Will you get into the right stocks early when their growth potential is greatest?”
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National Health Investors (NHI) collects 77.5% of May Rents
National Health Investors (NHI - Free Report) , or NHI, has collected 77.5% of monthly due contractual cash as of May 20, 2021. This compares unfavorably with 84.7% of April rent collected at its first-quarter earnings release on May 10.
Nonetheless, of the remaining uncollected rent balance for May, the company expects to collect 2% of contractual cash, while 0.6% relates to lower projected revenues from properties that were transitioned before the start of the pandemic.
Also, 7.5% and 1.5% of uncollected rent are rent deferrals relating to Bickford Senior Living and two other tenants, respectively. Specifically, NHI has agreed to defer $2 million in rent due for May 2021 from Bickford. With this, deferred rents related to the tenant aggregated $8.75 million for the ongoing year. Nonetheless, the deferred rents are anticipated to be repaid with interest. Moreover, NHI will defer $0.4 million for two other tenants in May. This too is expected to be paid back with interest.
Lastly, 10.9% of the uncollected rent balance relates to Holiday Retirement's monthly rent. Particularly, NHI is in discussions with Holiday Retirement that could lead to rent concessions, beginning second-quarter 2021. Nonetheless, NHI expects to collect a notable part of the current monthly rent from the tenant, which may be supported with a portion of its $10.6-million lease deposit.
In an update provided in its first-quarter 2021 earnings, NHI announced that it received 84.7% of contractual cash for April, with the remaining balance comprising 11% in Bickford-related deferrals, 3.1% in deferrals related to three other tenants, 0.6% related to due rent expected to be collected and another 0.6% of uncollected rent resulting from lower anticipated revenues from transitioned properties prior to the pandemic.
Considering this, from Apr 1, 2021, till May 20, 2021, NHI has collected 81.5% of contractual cash due for the second quarter and expects to collect another 1%. The uncollected balance comprises 9.3% and 2.3% in deferrals related to Bickford and three other tenants, respectively.
Also, 0.5% of uncollected rent relates to lower estimated revenues from transitioned properties prior to the start of the pandemic, while 5.4% is related to Holiday's monthly rent.
Notably, while acceleration in vaccinations and the reopening of the company’s communities have aided a rebound in occupancy, any significant turnaround is less likely in the near term.
Shares of this Zacks Rank #3 (Hold) company have inched up 0.7% over the past six months compared with the industry's growth of 11.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to Consider
Industrial Logistics Properties Trust’s (ILPT - Free Report) funds from operations (“FFO”) per share estimate for the current year has moved up 4.5% to $1.87 in the past month. The company currently carries a Zacks Rank of 2 (Buy).
OUTFRONT Media Inc.’s (OUT - Free Report) Zacks Consensus Estimate for 2021 FFO per share has moved marginally north to 89 cents over the past month. The company currently carries a Zacks Rank of 2.
Braemar Hotels & Resorts Inc. (BHR - Free Report) carries a Zacks Rank of 2 at present. The Zacks Consensus Estimate for the ongoing year’s FFO per share has been revised around 38% upward in a month to 44 cents.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure >>