You sound like SRZ did a huge resident fee increase in January of this year. Nothing could be further from the truth. I happen to know what it was because my very elderly father is a resident at one of the SRZ facilities. The last increase which was in January of this year was very, very modest - 2.5%. Further more, if anything, occupancy at my fathers SRZ facility has been on the steady rise since the first part of 2010. I can't even find a place to park in their parking lot when I do my frequent visits and I always observe that the dining rooms are always full of residents.
Rt your Dad is not located in California.I am glad things are booming there.The problem is other states Srz isn't doing the greatest.The economy has always been a concern for me and I think Srz,BKD is a lie detector of the economy. I think things will calm down after all the Obama change is digested. Cheers and Beers Retarded_Techie
Sorry guys but isolated anecdotal evidence don't count for nothin'. Not when you have as many far flung facilities as SRZ.
All I know is that I am glad I moved my Mom out of her 5-Star luxury SRZ acquisition (at about a 50% loss on the 2001 condo price) and into a privately held acute care facility last Spring.
Her Parkinson's had advanced to where the Drs & the advisor said "If you can get her into that facility now...do it. Later on they will not take her". Good advice. Today, sad to say, she is no longer ambulatory but everyone sleeps better.
No idea what's to come for SRZ. Did well buying a big block early '09- more than paid for itself. And still hold 1400 shares -will hold until either BK or Buy-Out. As we have seen in that last three years, anything can happen.
Currently a Bear on the market overall. Moved some portfolios to as much as 90% cash. Next two months may be that ugly. Hopefully not but prefer to tread carefully...