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The Ensign Group, Inc. (symbol: ENSG) is a prominent provider of post-acute healthcare services in the United States. The company operates through its regional subsidiaries to offer a wide range of services including skilled nursing, assisted living, home health and hospice, mobile ancillary, and urgent care services. Ensign Group's business structure is divided into two main segments: Skilled Services and Standard Bearer.
The Skilled Services segment is the largest revenue generator and involves the operation of skilled nursing facilities and the provision of rehabilitation therapy services. These facilities cater to patients who require continuous medical care and rehabilitation following a hospital stay. This segment is pivotal for the company鈥檚 financial health, as it primarily relies on Medicare and Medicaid programs for revenue generation.
The Standard Bearer segment focuses on property ownership through a captive Real Estate Investment Trust (REIT). These properties are then leased out to skilled nursing and assisted living operations, providing a steady stream of rental income to the company.
Recent developments include a scheduled conference call and webcast on May 2, 2024, at 10:00 am PT, where the company will discuss its latest financial performance and strategic initiatives. Ensign Group continues to expand its footprint through strategic acquisitions and partnerships, enhancing its service offerings and geographical reach.
With a strong focus on quality care and operational efficiency, The Ensign Group, Inc. remains a key player in the healthcare sector, consistently working to meet the growing needs of an aging population.
CareTrust REIT (NYSE:CTRE) has completed Phase 2 of its Tennessee portfolio acquisition, acquiring thirteen additional skilled nursing facilities through a joint venture arrangement. The company invested approximately $176 million in combined common equity and preferred equity, with an initial contractual yield of 9.0%.
The newly-acquired facilities will be operated under long-term master lease agreements, with six facilities managed by The Ensign Group affiliates and seven by Links Healthcare Group affiliates. This brings the total facilities acquired in the portfolio transaction to 27, with a total investment of $421 million.
The company's annual investment total has reached approximately $1.5 billion in 2024, with the final facility acquisition expected in Q1 2025. CareTrust begins 2025 with a replenished investment pipeline of approximately $350 million in near-term, actionable opportunities.
The Ensign Group (ENSG) has expanded its operations by acquiring nine skilled nursing facilities - eight in Tennessee and one in Alabama, marking its first entry into the Alabama market. The facilities have a combined capacity of 921 beds. Six of these operations are jointly owned by CareTrust REIT and a joint venture investor under a new long-term triple net master lease with Ensign affiliated companies, effective January 1, 2025. The remaining three operations were purchased by Standard Bearer Healthcare REIT, Ensign's captive real estate subsidiary.
Following these acquisitions, Ensign's portfolio now encompasses 333 healthcare operations across 15 states, including 30 facilities with senior living operations. Through its subsidiaries, including Standard Bearer, the company owns 129 real estate assets, of which it operates 96. The company continues to actively seek additional acquisition opportunities nationwide.
The Ensign Group (NASDAQ: ENSG) has agreed to acquire eight healthcare facilities across Alaska, Washington, Oregon, and California from Providence Home and Community Care. The acquisition includes both real estate and operations, with Standard Bearer Healthcare REIT, Ensign's real estate subsidiary, purchasing all eight properties. Six facilities will be operated by Ensign affiliates, while two will be leased to a third-party operator.
This strategic expansion marks Ensign's first entry into Alaska and Oregon markets. Upon completion, Ensign's portfolio will expand to 330 healthcare operations across 16 states, including 32 with senior living operations. Standard Bearer will own 134 real estate assets, with 95 operated by Ensign affiliates and 35 by third-party tenants.
The Ensign Group (NASDAQ: ENSG) has declared a quarterly cash dividend of $0.0625 per share, marking its twenty-second consecutive annual dividend increase. The dividend will be payable on or before January 31, 2025, to shareholders of record as of December 31, 2024.
The company, through its subsidiaries, provides skilled nursing and senior living services, rehabilitation therapies, and healthcare services across 324 healthcare facilities in 14 states. This dividend announcement demonstrates Ensign's market strength and commitment to shareholder value, according to CEO Barry Port.
The Ensign Group (Nasdaq: ENSG) has announced its participation in the Stephens Annual Investment Conference on November 20, 2024. Key executives including CEO Barry Port, CFO Suzanne Snapper, and CIO Chad Keetch will present at 1:00 p.m. Central Time, discussing company operations and growth strategy.
A live audio webcast will be available at wsw.com/webcast/stph35/ensg/1829595, with replay access for 90 days post-presentation. The company operates 324 healthcare facilities across 14 states, providing skilled nursing, senior living services, and various therapeutic and healthcare services.
The Ensign Group (ENSG) has expanded its Wisconsin presence through multiple acquisitions effective November 1, 2024. Through its real estate subsidiary Standard Bearer Healthcare REIT, the company acquired four assisted living facilities in Green Bay and Appleton, which will be operated by The Pennant Group under long-term triple net leases. The facilities include Marla Vista Assisted Living (40 assisted living beds, 20 memory care beds), Marla Vista Manor (20 memory care beds), Carrington Assisted Living (20 assisted living beds), and Carolina Assisted Living (45 assisted living beds). Additionally, Ensign acquired Benedictine Living Community Wausau, an 82-bed skilled nursing facility. These acquisitions bring Ensign's portfolio to 325 healthcare operations across fourteen states, including 128 owned real estate assets.
The Ensign Group (NASDAQ: ENSG) has expanded its presence in Wisconsin through multiple strategic acquisitions effective November 1, 2024. The company acquired the 82-bed Benedictine Living Community Wausau skilled nursing facility through its REIT subsidiary, Standard Bearer Healthcare. Additionally, Standard Bearer acquired four assisted living facilities in Wisconsin: Marla Vista Assisted Living (40 assisted living/20 memory care beds), Marla Vista Manor (20 memory care beds), Carrington Assisted Living (20 beds), and Carolina Assisted Living (45 beds). These facilities will be operated by The Pennant Group affiliates. With these acquisitions, Ensign's portfolio now includes 325 healthcare operations across fourteen states, with 128 owned real estate assets.
CareTrust REIT has announced a binding agreement to acquire a $500 million portfolio of 31 skilled nursing facilities through a joint venture. The portfolio includes 3,290 licensed beds, with 30 facilities in Tennessee and 1 in Alabama. The transaction is expected to close in Q4 2024. PACS Group will operate 12 facilities, Ensign Group 9 facilities, Links Healthcare 7 facilities, and a new regional operator 3 facilities. CareTrust's investment in the joint venture will be approximately $442 million with an initial yield of 9.0%. The company's updated investment pipeline stands at $700 million.
The Ensign Group (ENSG) has announced plans to expand its operations by adding eight skilled nursing facilities in Tennessee and its first operation in Alabama. Six facilities will be jointly owned by CareTrust REIT and a private joint venture investor under new long-term triple net master leases, while three will be purchased by Ensign's subsidiary, Standard Bearer Healthcare REIT. The expansion will increase Ensign's Tennessee presence from three to eleven locations. Upon completion, Ensign's portfolio will encompass 332 healthcare operations across 15 states, including 125 owned real estate assets.
The Ensign Group (ENSG) reported strong Q3 2024 results with significant growth across key metrics. GAAP net income reached $78.4 million, up 22.8% year-over-year, while adjusted net income grew 17.7% to $81.1 million. The company achieved GAAP diluted EPS of $1.34 and adjusted EPS of $1.39. Same Facilities and Transitioning Facilities showed impressive occupancy increases of 2.8% and 4.8% respectively. Consolidated revenue reached $1.08 billion, marking a 15% increase. Based on these strong results, Ensign raised its 2024 earnings guidance to $5.46-$5.52 per diluted share and revenue guidance to $4.25-$4.26 billion.
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