Senior star was just pumping smoke for now... they offered portney a cash injection on the spot.... portney called them a bunch of small poppers and said go away... and so they have for now... seniors star will have no choice but to come forth with a general offer to shareholders for the entire portfolio of five star operations as an entity.... thats as an operator of 225 facilities and onership of 31. Senior star then could sell of a divide the 31 once there private... portney would stop that very quickly with a higher offer from SNH or himself..so unless senior star come back with a full tender offfer with a proxy to shareholders..remember these guys own millions of shares..and have a vested interest in unlocking value,, portney is just gonna continue as usual.... but the play if it happens is worth 3 maybe 4 fold from here.
private owners dont have to sell... explain how that statement would apply here.
this holding pattern wont last for ever... im not saying senior star has muscle power with only a 7% stake ....but they obviously know how to push a few bottons with portney by now... there 325 million bid or $6.25 a share draws a line in the sand... portney now knows someone will move on them forcing his hand. SNH can basicly take her back on her credit card at $400 million a spin the management side private... The GPA would call foul... but would'nt have much of a defence.... so we wait for now.
At what point to you just hold your nose and back up the truck.. at some point FVE is gonna go earnings positive... and i wanna have as much leverage to the upside as possible.
Not possible...no one shareholder holds control here...biggest shareholder SNH @ 8%.... The rest would go to proxy
Has basicly an un tapped unrestricted line of credit for 150 million dollars... And another 150 ability in re mortgage finance. .on the the other 15 properties....
McKay could turn this thing into an L.P over night.
tommyboy...The fact that blackrock and dementional have recently taken a large position in Fve bodes well for a turn in stock at some point... CSU is operating at record margins on there last q... Yet are still stuck in the mud... Evenen with the latest standstill agreement and a hedge fund appointed to be board... So let time do its thing and we.ll be back above $4 soon enough.
I like jonesy....he.s just a little harsh...everything gis in the tank....it's not just an Fve thing..or a Portney thing....BKD is down 50 percent from $30.... Csu down 40% from $25.... It's a sector bear across the board... It won't last forever... Bears turn to bulls..and bears have bull cycles.....the smartest of the smart I guess we're shorting or buying puts...not talking from the mouth.
jonesey, when did you get so harsh... the seniors sector is nt exactly hard to figure out..the NIC puts out numbers quarterly...and things are flat right now.... I would like to Fve drop there prices a bit..and increase occupancy...at an ave of 4200 a month on I/L were the most expensive...CSU is operating with stellar margins and is under the gun as far as greeting much respect right now.BKD is even worst as the street is looking for direction... this will change eventually... Patience is the key...
Tommyboy... some point I'll give you for sure... Portney knows the value of Fve assets..as a package would be much higher than 325 million..GPA was esentially a non starter unless they were actively demonstarting financing was in place...I also said if portney wanted to sell these assets on a startegic review we'd be looking at 650 million..these places have the highest rents in the sector at an ave of $4200 a month... the Mariott of seniors homes.. if the GPA can come forward and demonstrate they have a backer.. KKR or some other Private equity firm...would take them along way and the stock with it.
Tommyboy..your sounding alot like jonesy..who we hav'nt seen in a dogs age..bottom line..in todays news Genesis(gen) just sold there home and hospice busness for 10X EBITDA... factor that in to your slide rule for FVE... thats pushes the evelope closer to 500 million for those 31 facilities owned outright by FVE.... back up the truck..because i'm all over a yes vote on taking fve private and putting up to $10 a share in my pocket.
We still flow alot more free cash than CSU.. a reason why GPA wants a shot at FVE.
CSU......Our adjusted EBITDAR was $38.2 million in the fourth quarter of 2015
FVE..... Adjusted EBITDAR, was $59.4 million for the fourth quarter of 2015 compared to $58.8 million for the same period in 2014.
insiders no..SNH does nt have enough to block... Blockrock yes..demensional yes... for $8.25 a share you'd have everything wraped up in about 2 days of trading.
they could eventually take an offer directly to the shareholders for all outstanding shares of FVE..if they have 325 million allready lined up..425 would nt be stretch.. or $8.25 a share.. We hav'nt seen the GPA come out with any real substance yet on whose backing them financially..so its still pie in the sky talk for now... should they disclose the players with the cash ..different story.