Jonsey..would you be buying FVE if it had a market cap of 800 million..Think of portney as giving you a discounted buying opportunity.....thats how i look at it... hopefully I'll be selling at $24 not buyin.....
FVE opperates over a 100 facitilites and directed owns 31 basicly mortguage free..There worth a pile of cash....the latest statistics show u.s housing continues to show strength in market price... ..FVe assets will also become more valuable.
Will be talking-up FVE turn- around and new dash board monitoring complience system....
And then Jonsey would have you believe that FVE is overvlaued even though we trade at a 400% diiscount to the only real sector peer CSU....all because of RMR is somehow raping all our profits.... yet on an EBITDA measure metric..were alctually performing better than CSU.... So there the delemma
Thats what makes the market... not saying FVE will break out today or tomorrow...but our strength is heading in the right direction.
i think well continue to see accumulation into Q2 and Q3..Our going concern with any restatements seams to be well behind us now. Occupancy should show some posive increment over the next 2 quarters
Five Star Quality Care, Inc. Enters New $150 Million Credit Facility
Five Star Quality Care, Inc. Enters New $150 Million Credit Facility
Five Star Quality Care, Inc. (NYSE: FVE) today announced that it has entered into a new $150 million secured revolving credit facility. The new facility is in addition to FVE’s existing $35 million secured revolving credit facility, which has a maturity date of March 18, 2013. The maturity date of the new facility is April 13, 2015 and includes options which can be exercised by FVE to extend the facility up to April 13, 2017.
Drawings under the new facility will bear interest at LIBOR plus a spread of 250 basis points. The new facility is secured by 15 senior living communities with 1,549 living units owned by FVE that have a total assessed value of approximately $230 million. FVE also continues to own an additional 12 unencumbered senior living communities with 840 living units.
Citigroup and RBC Capital Markets acted as joint lead arrangers and bookrunners for the new facility. Banks participating in the new facility are as follows:
Name of Institution
Citibank, N.A. Administrative Agent
Royal Bank of Canada Syndication Agent
CIT Bank (CIT Healthcare) Co-Documentation Agent
Compass Bank Co-Documentation Agent
PNC Bank, National Association Co-Documentation Agent
The Huntington National Bank Co-Documentation Agent
Comerica Bank Lender
RBS Citizens, N.A. Lender
UBS Loan Finance LLC Lender
Five Star Quality Care, Inc. is a senior living and healthcare services company which owns, leases and manages senior living communities, including primarily private pay independent and assisted living communities located throughout the U.S. Five Star also operates five institutional pharmacies and two rehabilitation hospitals. Five Star is headquartered in Newton, Massachusetts.
All FVE assets were evaluated by the credit facility and filed with the sec Item by item.....I did read through them on the filing....The 150 million is a secured facility on 15 I do believe on 30 pf our owned assets.... These guys are ultra conservative when they secure assets on security.... You can research it your self..it's all there.
I estimate FVe owned ssets are in the range of 600 million maybe more if sold sas a package.
How? did Corvex increase shareholder value on Commonwealth... Show me how?..Did they move to un lock shareholder value...don't see any any such thing....humm
Like I said..I.m no fan of the portneys manipulation games....but eventually...They ll get paid to get out of the way.....The value of certain real estate assets can't be ignored....The money that re invested in the properties is well spent....and there does nt seam to a rush in over building the sector like in previous cycles....One of these days Brookdale will fall to the Private Equity guys....and the sector will react positively....We may hate Portney in the short term with a passion..yes... But may thank him for his greed on our final payday.
I'm looking at the market without my rose colored glasses...I seen Corvex hijack Commonwealth REIT... And internalize operations and cut out RMR...hoping for a pop.... Did nt happen....in turn they cut the common divy ... And shareholders took it the hard way.....
I'll be a realist here... RMR...overcharges lets say 20% at most..sa compared to internalized operational standards..... But we're discounted 400% because of it.?
eventually ...Ventus will move on SNH...and enter a condition of operational management with RMR...maybe even but out the private management firm.... Let's face it..there's many ways to skin a cat...offering to buy RMR privately for a billion dollarss...probably is in the cards....SNH is definitely discounted here...and FVE holds between 650 and 8000 million in dept free operations of real estate.
Comparing CSU last SEC filing they are trading at 5.45X shareholder equity at the present time.....On that basis:::FVE would have a present stock valuation of $24.50
I'd say..someone may be undervalued here...... operational metrics...were preatty much the same.
Q1 are always a little tough on occupancy sector wide... hence we should see some strength going into Q2...and ramp it up as we enter Q3..... this is the time to buy an hold FVE
CSU..Q1.....Same-community occupancy was 87.1% for the first quarter of 2015, a 30 basis point decrease from the first quarter of 2014
Chainny... hold up just a little... CSU showed a little drop in occupancy also this Q... so i dont hold mckay above the general sector as a whole.... mckay is getting his 75K shares from the float..ya o.k thats a little tough to swallow... but comapring to BKD..i really dont think its all that bad...... you want cash out of the holding your gonna buy SNH a reap a 7% divy... i expect FVE to operate effeciantly and the market will eventually reward it for doing so.... getting our financially house in order is the key and that well in hand.
I see Q2 and Q3 as positive results going forward... maybe some one time items ....its usually FVE more robust quarters....mckays tracking BI systems seams to be effective and complience concerns look to be in the rear view mirror....
Jonesey..your venting today....thats healthy well done.... now lets get our head on right...we have an asset value here of about 650-800 million..and were trading at 213 million... The latest call from a billionair investor says BKD should double from its $37.... FVE is a major player as an owner operator..perhaps 2'nd largest in the North America as public traded... i like that...
Our tremendous discount can't be ignored...can RMR feed off us..yes..is there enougn to go around..i hope so....Eventually someone will run at SNH formally or informally..you cant protect yourself from a 900 pound gorillla like VTR forever...unless your trully a private entitity...that my friend would take us to $20
Correction 9.6 million...and it looks like FVE is set to renew some growth via Aquisition.... Credit facility renewed for 150 million