all stocks fell off the same cliff at that time. I was fortunate to be able to add shares at $15.95 last August. That was no where near the low but it was a good buy and in hindsight I should have bought more
There was an announcement that Medicare had overpaid long term care facilites the prior year. To make it up, they were going to reduce payments for the coming year. It was a paperwork glitch, not a change in policy.
There was a kneejerk reaction by investors. People thought it was related to the budget debates between the Congress and the President - it wasn't. Or that there was a "cut" - there wasn't a cut. Medicare was just going to collect the overpayment.
I posted this in Decemeber: "I own OHI and SBRA. They were sold off after the Medicare payment issue. Temporary issue, not a big deal long term. Adding when I can."
"The long term care facility where my mother is just sent their annual notice of a rate increase. They aren't eating the cost - they're passing it along. Duh. These stocks are pure gold for long term investors."