Key Takeaways The U.S. apartment market absorbed more than 227K units in Q2, signaling strong renter demand. AVB saw a 3% rise in same-store residential revenues and occupancy of 96.3% through May. EQR, ESS and UDR also posted strong occupancy, aided by tech markets and low homeownership affordability.The U.S. apartment market remained impressively resilient in the second quarter of 2025, absorbing more than 227,000 units between April and June, a robust second-quarter figure. According to RealPage data, ...

Key Takeaways BKD's weighted average occupancy rose 230 bps year over year to 80.5% in June 2025. Sequential gains in occupancy reflect strong move-ins and solid sales execution. BKD operated 645 communities serving around 58,000 residents across 41 states as of June 30, 2025.Brookdale Senior Living Inc. (BKD) recently unveiled that its weighted average occupancy improved 230 basis points (bps) year over year to 80.5% in June 2025. The reported figure also denoted an increase of 50 bps from the May level. ...

Whitestone REIT (WSR) 2025 Conference June 03, 2025 09:30 AM ET Speaker0 Thank you everyone for joining us today for the Whitestone REIT panel. My name is Anthony Hao, an analyst at Truist Securities. I'm pleased to introduce Whitestone CEO, Dave Holtman COO, Christine Mastandrea and CFO, Scott Hogan. Whitestone REIT, take our s WSR, is a community center REIT with a focus in Sunbelt markets and has a 630,000,000 equity market cap. We'll leave time near the end for audience to ask questions, but I'll kick t ...

Encompass Health (EHC) 2025 Conference Summary Company Overview - Encompass Health is the largest operator of inpatient rehabilitation facilities in the United States [1] Key Points and Arguments Volume Growth and Capacity - Encompass Health has a long-term target for discharge growth of 6% to 8% annually, with total discharge growth exceeding 6% for the last eleven quarters [6][8] - The company reported a first-quarter discharge growth of 10% in the previous year, influenced by an extra day due to leap year and the quarter ending on Easter Sunday [7] - In 2025, Encompass Health plans to open seven new hospitals, with five openings occurring after September, which will affect growth rates [8] - The expected breakdown for discharge growth is approximately two-thirds from same-store growth and one-third from new store growth [8] Occupancy Rates and Bed Expansion - The occupancy rate reached 78.8%, the highest ever recorded, reflecting a systematic increase in private room availability [10] - The percentage of private rooms in the portfolio increased from 40% in 2020 to 56% by the end of Q1 2025, enhancing occupancy levels [12] - Bed expansions are projected to yield high returns, with internal rates of return (IRR) exceeding 30% [13][14] - The company plans to add approximately 120 beds to existing hospitals in 2026 and 2027 [14] Joint Ventures and Market Strategy - Joint ventures (JVs) account for about 40% of Encompass Health's business, with a robust pipeline of potential partnerships [26] - JVs provide advantages such as faster ramp-up times and management fees, enhancing financial returns [27][28] - The company employs a data-driven approach to identify markets for new facilities, considering demographics, competition, and local healthcare needs [19] Medicare Advantage and Payer Mix - The Medicare Advantage payer mix has increased from under 9% in 2018 to approximately 30% in Q1 2025, with ongoing efforts to improve this further [35] - The reimbursement gap between Medicare Advantage and fee-for-service has narrowed from over 25% to less than 2% [36] - The conversion rate for Medicare Advantage referrals to admissions is currently about half that of fee-for-service, indicating significant growth potential [42] Regulatory Environment and Risks - Encompass Health does not foresee immediate risks from potential Medicare cuts, as IRFs represent less than 2% of overall Medicare expenditures [50] - The company is subject to frequent audits and maintains a low bad debt expense of around 2% [51] - There has been no recent discussion regarding the home health transfer policy, which had previously raised concerns [54] Cost Management and Financial Strategy - Construction costs for new facilities are approximately $1.2 million per bed, with bed expansions costing between $800,000 and $850,000 per bed [58] - The company has not observed upward pressure on construction or supply costs, benefiting from reduced demand among contractors [60] - Encompass Health repurchased $32 million of its stock in Q1 2025, indicating a commitment to returning value to shareholders while expanding capacity [64] Additional Important Insights - The aging demographic is a significant driver of growth, with projections indicating that one in five Americans will be over 65 by 2030 [17][18] - The company emphasizes its value proposition in treating complex medical conditions, which resonates with Medicare Advantage plans [40] - Encompass Health's strategic focus on expanding its capacity and improving payer mix positions it well for future growth opportunities [63]

Kojamo plc Stock Exchange Release, 8 May 2025 at 8.00 a.m. EEST Kojamo plc’s Interim Report 1 January–31 March 2025 The improvement in occupancy rate accelerated in the first quarter of the year This is a summary of the 2025 Interim Report, which is in its entirety attached to this release and can be downloaded from the company’s website at www.kojamo.fi/investors. Unless otherwise stated, the comparison figures in brackets refer to the corresponding period of the previous year. The figures in this Interim ...

Sabra Health Care REIT (SBRA) Q1 2025 Earnings Call May 06, 2025 01:00 PM ET Company Participants Lukas Hartwich - Executive Vice President FinanceRick Matros - Director, President, Chairman & CEOTalya Nevo-Hacohen - Executive VP, Chief Investment Officer & TreasurerMichael Costa - Executive VP, CFO & SecretaryElmer Chang - Equity Research AssociateFarrell Granath - Equity Research AssociateJuan Sanabria - Managing DirectorGeorgi Dinkov - Senior Equity Research AssociateRichard Anderson - Managing Director ...

Financial Data and Key Metrics Changes - The company reported a healthy first quarter with core FFO per share exceeding the midpoint of guidance by $0.05, driven by a consolidated portfolio performance ahead of plan with same property revenues growing 3.4% year-over-year [11][12] - Blended net effective rent growth was 2.8% for the first quarter, with new lease rates improving sequentially from the fourth quarter [4][11] - Delinquency improved to 1.3% of scheduled rent in Los Angeles, down from 3.9% in the same period last year [4][11] Business Line Data and Key Metrics Changes - New lease rates turned positive in all three major regions, led by Northern California at 1.5%, Seattle at 1.3%, and Southern California at 0.2% [5] - The turnover rate was notably low at 35%, contributing to stable occupancy levels [4] - In April, renewal rates landed in the low fours, consistent with plans, while new lease rates remained steady [36][37] Market Data and Key Metrics Changes - Total new housing supply delivery as a percentage of stock in 2025 is exceptionally low at only 50 basis points in Essex markets, expected to moderate throughout the year [7] - Deal volume in the markets was higher in the first quarter compared to the same period last year, totaling $2.5 billion with cap rates in the mid to high 4% range [8] Company Strategy and Development Direction - The company is focused on reallocating capital into higher rent growth markets and optimizing its operating platform to generate above-market returns [3][4] - The company remains cautious about revising guidance due to macroeconomic uncertainties, particularly regarding U.S. and global trade policies [6][12] - The company is actively pursuing opportunities to enhance shareholder accretion while maintaining a disciplined investment strategy [10][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the West Coast multifamily fundamentals, stating they are well-positioned for a wide range of economic outcomes due to low supply [7][93] - The company noted that while the tech sector's job growth has been steady, it is closely monitoring potential impacts from macroeconomic changes [21][92] - Management highlighted that the labor market remains soft in Los Angeles, affecting pricing power, and emphasized the need for delinquency recovery to improve occupancy and pricing [60][61] Other Important Information - The company has refinanced the majority of its 2025 debt maturities and maintains over $1 billion in available liquidity [15] - The preferred equity portfolio saw around $27 million in redemptions, with expectations for further redemptions in the upcoming quarters [14] Q&A Session Summary Question: Guidance and Rate Growth - The company confirmed that the original guidance included a slight increase in blended rate growth in the second half of the year, and they remain confident in achieving this [17][19] Question: Impact of Tech Sector - Management indicated that job openings in the top 20 tech companies have remained steady, suggesting continued hiring in the sector [20][22] Question: Occupancy Strategy - The company is maintaining its occupancy strategy while pushing rents in Northern California, with a focus on occupancy in Southern California due to supply dynamics [25][27] Question: Renewal Rates - Renewal rates in April were steady, landing in the high threes, consistent with the company's plans [37] Question: Market Conditions in LA - Management noted that pricing power in LA depends on delinquency recovery and that the labor market remains soft, impacting overall performance [60][61] Question: Development and Investment Strategy - The company is actively looking for new investment opportunities but remains disciplined in its approach, focusing on long-term performance [64][111] Question: Concessions and Loss to Lease - Concessions have improved significantly from the fourth quarter to the first quarter, and loss to lease metrics have also shown improvement [113]