Latest news with #seniorhousing
CTV News
2 days ago
- Business
- CTV News
Chartwell purchases 6 retirement and seniors' communities for $432 million
Several senior and retirement communities will be purchased by a major housing provider as it expand its footprint across Ontario for nearly half a billion dollars. Chartwell Retirement Residences says it will purchase six senior and retirement communities, with a total of 1,024 suites, for $432 million across London, Waterloo, Dorchester and Mississauga, according to a news release. 'This was a great addition, certainly to our portfolio, we are very happy to expand in the very strong southwestern Ontario market,' Vlad Volodarski, chief executive officer of Chartwell told BNN Bloomberg in a Wednesday interview. 'We did not have a lot of presence in the London market in particular, and this portfolio gave us the opportunity to expand there.' Statistics Canada states there were about 7.6 million seniors (residents aged 65 and older) in Canada, representing 18.9 per cent of the total population in 2023. The agency estimates by 2030, seniors could represent from 21.4 per cent to 23.4 per cent of the total population. The purchased properties are Riverstone, Richmond Woods and Longworth in London, Dorchester Terrace in Dorchester, Westhill in Waterloo and Erinview in Mississauga. Chartwell will pay $416.2 million for the properties while Dorchester Terrace townhomes will be paid on competition of construction for $15.8 million. Construction is expected to be completed in the fourth quarter of 2026. 'We've announced over the last probably 18 months, over $2 billion worth of acquisitions, and we continue to look for opportunities to add high quality properties to our portfolio going forward, to take advantage and to serve more seniors across the country, because the demand continues to grow,' said Volodarski. Chartwell's revenue was $661 million with a net income of $49.5 million, according to an annual report. The company owns 200 properties, serves over 25,000 seniors and employs 16,000 people across Ontario, Quebec, Alberta and British Columbia, according to its website. The acquisition includes additional land at the Erinview site, with the potential to develop an additional 140 suites. The purchase price will be settled by assuming in-place debt of $232.7 million, a majority CMHC-insured, and in part from proceeds of already planned CMHC financings this year of $240 million.
Yahoo
16-07-2025
- Business
- Yahoo
JPMorgan Upgrades Ventas (VTR) to 'Overweight' with $72 Price Target
Ventas, Inc. (NYSE:VTR) is one of Goldman Sachs' top REIT stock picks. On June 23, JPMorgan upgraded Ventas' stock rating from 'Neutral' to 'Overweight'. The firm also increased the price target on Ventas shares from $70 to $72. The upgrade reflects a more positive outlook compared to the previous neutral stance. A senior couple walking hand-in-hand in a senior housing facility. One of the factors JPMorgan cited was Ventas' 'strong internal and external growth trends.' The firm particularly pointed to the company's double-digit same-store net operating income (NOI) growth in its senior housing operating portfolio (SHOP), Ventas' largest portfolio segment. JPMorgan noted that Ventas has maintained a consistent flow of acquisition opportunities, supporting external growth. The investment firm also cited good visibility for above-average normalized funds from operations (NFFO) per share growth over the next few years. Compared to Ventas's closest peer, JPMorgan noted that Ventas offers more value on an implied capitalization rate basis, though potentially with somewhat less growth potential. The firm observed that the expected external growth recovery in the overall REIT sector has not broadly materialized, making Ventas's external growth dynamics stand out. Ventas, Inc. (NYSE:VTR) is a healthcare-focused REIT with a portfolio of approximately 1,400 properties across the U.S., Canada, and the U.K., including senior housing communities, medical office buildings, and life science centers. Its growth is anchored in the senior housing operating portfolio (SHOP), which delivered double-digit NOI gains in early 2025, supported by rising occupancy and data-driven asset management. While we acknowledge the potential of VTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Goldman Sachs Healthcare Stocks: Top 10 Stock Picks and 11 Best Green Energy Penny Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
14-07-2025
- Business
- Yahoo
Ventas Stock Gains 11.6% in 6 Months: Will the Trend Last?
Shares of Ventas VTR have gained 11.6% in the past six months compared with the industry's 6% growth. This Chicago-based healthcare real estate investment trust ('REIT') is well-poised to benefit from its diverse portfolio of healthcare real estate assets in the key markets of the United States and the U.K. An aging population and the rise in healthcare expenditure by senior citizens are likely to benefit the senior housing operating portfolio (SHOP). The outpatient medical portfolio is expected to gain from favorable outpatient visit trends. Ventas' accretive investments to expand its research portfolio are encouraging. Image Source: Zacks Investment Research Let us check out the possible factors behind the surge in the share price for this Zacks Rank #3 (Hold) company and see whether the trend will continue or not. The senior citizen population is expected to rise in the years ahead. As a result, the national healthcare expenditures of senior citizens, who constitute a major customer base for healthcare services and incur higher healthcare expenditures than the average population, are likely to increase in the upcoming period. With an expectation of a rising senior citizens' population in the years ahead and low new supply in its markets, Ventas is well-prepared for a compelling multiyear growth opportunity. The increasing U.S. aging population is fueling the senior housing demand for this healthcare REIT. This is expected to drive the company's top line. In 2025, Ventas expects its SHOP segment's same-store cash NOI to grow between 11% and 16%. The company expects the SHOP business to represent more than half of its total NOI by year-end 2025. Amid growing outpatient trends, Ventas is committed to capitalizing on this upside within its outpatient medical and research (OM&R) portfolio. The growth in the population aged 65 years and above is driving the increase in outpatient visits, as they make three times more visits to the doctor than the general population. Therefore, the portfolio is well-positioned to capitalize on this rising demand. The company expects the OM&R portfolio's same-store cash NOI to grow in the range of 2-3% in 2025. Ventas is carrying out accretive investments to enhance its research portfolio, which is essential for the delivery of crucial healthcare services and research related to life-saving vaccines and therapeutics. The company owns research centers in life science clusters, with a presence in some of the top-tier research university campuses. With top-rated tenants and long-lease leases, its high-quality portfolio assures steady growth in cash flows. Ventas has been making efforts to enhance its liquidity position and financial strength. As of March 31, 2025, the company had approximately $2.9 billion of liquidity. In April 2025, VTR increased its liquidity to $3.6 billion by expanding the unsecured credit facility by $750 million to $3.5 billion. Management expects continued leverage improvement in the balance of this year, driven by senior housing growth. Ventas' access to diverse capital sources through capital recycling, on-balance sheet financing and internal cash flow provides ample financial flexibility and is likely to support its growth endeavors. With the above-mentioned factors, we believe the rising trend in the stock is expected to continue in the near term. Competition from national and local operators limits its power to raise rents and drive profitability. Dependence on a few tenants poses key concerns for Ventas. Substantial debt burden adds to its woes. Some better-ranked stocks from the broader REIT sector include SBA Communications SBAC and American Tower AMT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate for SBAC's 2025 FFO per share has moved 3 cents northward to $12.74 over the past two months. The Zacks Consensus Estimate for AMT's 2025 FFO per share has moved 2 cents northward to $10.55 over the past week. Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Tower Corporation (AMT) : Free Stock Analysis Report Ventas, Inc. (VTR) : Free Stock Analysis Report SBA Communications Corporation (SBAC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Globe and Mail
14-07-2025
- Business
- Globe and Mail
A top pick in the hottest REIT sector
Daily roundup of research and analysis from The Globe and Mail's market strategist Scott Barlow Scotiabank analyst Himanshu Gupta went in-depth on the hottest REIT sector: senior housing, 'In the last three weeks, we reached out to 20+ retirement homes owned by CSH [Chartwell Retirement Residences] and SIA [Sienna Senior Living Inc], and posed as someone requiring a suite for their elderly grandmother! … Based on our conversations with marketing teams of various homes, we gathered 4 to 5% renewal rental spreads in 2025 (mostly similar to last year & in some cases slightly better), and very limited/targeted incentives on offer … Market rent growth is key to keep the Seniors Housing story going: We looked at previous cycle peaks of Industrial REITs, U.S. Sunbelt multi-family and CDN self storage - the three darlings during/post COVID. We observed that unit prices/AFFO [adjusted funds from operations] multiples peaked, in and around the same time when market rent growth peaked ... Based on supply-demand backdrop in Seniors Housing, we believe, market rent growth story is likely to sustain for the next few years, and as such Seniors Housing remains our most preferred sector ... CSH (CSH-UN-T) remains our top pick.' *** A nuclear power-focused podcast from BofA Securities emphasized thorium and a more enriched form of uranium, 'While adding capacity to existing plants isn't a major challenge, adding new US plants is more difficult. Jess Gehin from the Idaho National Lab and BofA Global Research's US Utility analyst Ross Fowler join to discuss what may lie ahead. Jess covers how the recent Executive Orders could accelerate the deployment of nuclear and how they've already stimulated activity. Jess also discusses HALEU [High-Assay Low-Enriched Uranium], a more enriched variety of uranium used in some of the small modular nuclear reactors as well as Thorium, a reactor fuel that was studied in the 1960s and which has seen a resurgence of interest. While Thorium could eventually provide the US a domestically sourced nuclear fuel that enables longer term growth in nuclear generation, Jess believes uranium will be the fuel that continues to dominate for the foreseeable future.' 'Dig it - nuclear renaissance looks to the '60s for inspiration' – BofA Securities *** Bloomberg's Edward Harrison sees trouble brewing under the surface of the U.S. economy, 'Ponzi financing has increased dramatically. Investors are chasing the next … Translation: investors have become increasingly comfortable buying shares of companies that can't fund themselves out of their own cash flow. Why is that, you might ask? I believe a lot of it has to do with the proven Silicon Valley model. It's Apple. It's Microsoft. It's Amazon… people are willing to overlook Ponzi financing of smaller public companies, regardless of sector, as they wait for profits to gush out when the companies reach scale. By the numbers, * 74.8% - Percent of small firms with negative sources of cash … If that constant uncertainty and whipsawing of prices finally brings the US economy to a standstill, there's a non- zero risk — I'd call it substantial — that investors' willingness to fund firms with operating budgets that exceed cash flow would diminish swiftly and substantially … What does that mean for big firms and the economy? My view is that it's akin to what we saw when the Internet bubble popped. Many a small internet companies and upstart telecom businesses went bust' 'The Financial Fragility Risks Are Not in the S&P 500' – Bloomberg *** Bluesky post of the day: Diversion: ' Midlife Mood Shift? Study Says Anger Drops After 50' – SciTechDaily
Yahoo
26-06-2025
- Business
- Yahoo
Yonkers' 92-unit senior housing development will conclude long rebuild of public housing
YONKERS — A decade-long redevelopment for a blighted public housing complex has entered its final stages. On June 25, city officials broke ground on the final phase of transforming the former Cottage Place Gardens public housing complex. Willow at the Ridgeway, an eight-story senior housing development at 23 Bishop W.J. Walls Place, will include 92 units designated for seniors on the city's section 8 waitlist. Amenities are to include free internet, air-conditioning, energy-efficient appliances, laundry rooms on each floor, a community room, fitness center, raised garden beds, a bocce court and a resident terrace with seating and a solar canopy. Construction is expected to be completed in October 2026. More: Tenants begin moving into Hudson Piers, largest waterfront development in Yonkers The development marks the final step in a six-phase revitalization of a public housing complex originally built in 1945. The master plan, first outlined 15 years ago, aims to replace the old structures with modern housing located close to the downtown Yonkers waterfront district. Previous phases of the redevelopment plan include 188 Warburton Ave., School House Terrace and The Villas at the Ridgeway, which collectively offer hundreds of apartment units and townhomes. Yonkers Mayor Mike Spano said the goal is to build a community that offers the quality of new market-rate housing developments. He added former residents of Cottage Place Gardens would be given priority to return. 'We want to transform our city and we want our city to be inclusive,' Spano said. 'We want to make sure we're bringing people into our city but not chasing people out of our city. Giving our seniors a building to age in place.' The $81 million final phase replaces three vacant public housing buildings on the site and will offer 85 one-bedroom units and seven two-bedroom units, ranging in size of 550 to 800 square feet. The units are set aside for residents earning at or below 60% of the Area Median Income, or between $35,000 to $71,400 annually. Developed by The Community Builders and the Mulford Corporation, a nonprofit affiliate of the Yonkers Housing Authority, Willow at the Ridgeway also incorporates energy-efficiency features such as all-electric, rooftop solar panels. Funding for the project comes from state and local municipalities, including the City of Yonkers, Westchester County, New York State Housing Finance Agency and the Home and Community Renewable agency. It is part of Gov. Kathy Hochul's $25 billiony, five-year housing plan, which has financed nearly 3,200 affordable homes in Westchester. Helu Wang covers economic growth and real estate for The Journal News/lohud and USA Today Network. Reach her at hwang@ This article originally appeared on Rockland/Westchester Journal News: Yonkers NY begins final phase of 15-year rebuild of public housing
