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Msg  11651 of 11664  at  3/14/2019 2:42:57 PM  by

fpsully


 In response to msg 11649 by  jwcallen
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Re: New to REITs

Seeking Alpha keeps publishing negative articles on SNH. Here is an excerpt of the most recent. Caveat Emptor.
 
Summary
 
  • Senior Housing Properties Trust reported Q4-2018 results.
  • Key normalized metrics show that the dividend is not covered.
  • Deterioration of its key tenant will necessitate a rent cut or a fire sale of properties involved.
When we last looked at Senior Housing Properties Trust (NASDAQ:SNH), we concluded that the dividend, as measured by true owner's earnings, was not being properly covered. We also noted that serious issues with its key tenants could force SNH's hand sooner or later with regards to a cut. With Q4-2018 results out, we saw that our thoughts were being borne out further.


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