Regional Health Properties, Inc. (NYSE American: RHE) (NYSE American: RHEpA), a self-managed healthcare real estate investment company that invests primarily in real estate purposed for senior living and long-term care, reported results for the year ended December 31, 2020.
Business Update
Successfully transitioned two non-performing facilities affiliated with one operator, preliminary results for transitioned facilities for January and February 2021 very encouraging
Collected 91% of 2020 cash rent
Generated positive free cash flow from continuing operations for the fourth quarter and year ended December 31, 2020, despite covid-19 headwinds
Brent Morrison, Regional Health Properties’ Chief Executive Officer and President, commented, "Our portfolio occupancy experienced some softness going into yearend but we remain hopeful that the vaccine rollout and reinstating family visitation privileges should reverse the downward trend by the second half of 2021. We have a strong and experienced portfolio of operating partners and remain confident in their abilities to continue to navigate through the challenges resulting from the ongoing pandemic." Ben Waites, Regional’s Chief Financial Officer added "I’m excited to join the Regional team. I look forward to furthering the company’s progress and see Regional well positioned to weather the storm. We see opportunities to refinance some of our senior debt secured by U.S. Department of Housing and Urban Development (HUD) as well as other capital structure improvements."
https://finance.yahoo.com/news/regional-health-properties-reports-fourth-220300837.html
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.