Senior Housing Properties Trust
), a real estate investment trust (REIT), recently announced its
plan to offer 8 million shares to increase its liquidity. To cover
the over-allotment options, Senior Housing also intends to offer a
30-day option to the underwriters for purchasing an additional 1.2
The net proceeds generated from this offering are expected to be
utilized to repay debt outstanding under its revolving credit
Senior Housing reported first quarter 2012 adjusted FFO (funds
from operations) of 45 cents per share compared with 44 cents in
the year-earlier quarter. Funds from operations, a widely used
metric to gauge the performance of REITs, is obtained after adding
depreciation and amortization and other non-cash expenses to net
During the first quarter 2012, Senior Housing, repaid $225.0
million of 8.625% unsecured senior notes on its maturity date. The
repayment was funded by borrowings under its revolving credit
facility. Additionally, the company also repaid a mortgage loan
that had a balance of approximately $12.4 million with an interest
of 6.03%. As of March 31, 2012, the company had $25.3 million in
cash and cash equivalents.
Senior Housing primarily invests in senior housing properties in
the United States. The company invests in hospitals, nursing homes,
senior apartments, independent living properties, and assisted
living properties. As of March 31, 2012, Senior Housing owned 370
properties in 38 states and Washington D.C.
Senior Housing currently has Zacks #3 Rank, which translates
into a short-term Hold rating. We also have a long-term Neutral
recommendation on the stock. One of its competitors,
) also holds a Zacks #3 Rank.
HCP INC (HCP): Free Stock Analysis Report
SENIOR HOUSING (SNH): Free Stock Analysis
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