Senior living stocks continue to crater as pandemic spreads

Sabra Health Care REIT

18/03/2020 17:29

** Senior living stocks plunging to multi-year lows Weds as
coronavirus spreads
    ** More than 204,000 people worldwide have contracted the
virus; in U.S., there have been 116 deaths and 6,524 confirmed
cases so far, according to a Reuters tally  urn:newsml:reuters.com:*:nL4N2AY3AS
    ** Ventas Inc  VTR.N  plummets as much as 34% and hits
lowest levels since 2003. Stock last down 31.7%. This as S&P 500
slides 7% and triggers 15-minute trading halt around 1:00 PM EDT
 .N 
    ** VTR already fell ~12% on Tues after the senior housing
REIT withdrew its 2020 financial forecasts, as pandemic raises
risk of tenants moving out  urn:newsml:reuters.com:*:nBw1pLFrna
    ** Elderly care facilities are especially vulnerable to the
virus, evidenced by multiple deaths related to coronavirus tied
to nursing home in King County, Washington  urn:newsml:reuters.com:*:nL1N2B90IR
    ** Sabra Health Care REIT  SBRA.O  and CareTrust REIT
 CTRE.O  both down ~20% to record lows, Welltower Inc  WELL.N 
plunges ~24%, LTC Properties  LTC.N  off ~16%
    ** Brookdale Senior Living  BKD.N  down 9% after co late
Tues said it drew down full balance on its credit facility,
temporarily suspended stock buybacks and withdrew FY 2020
guidance due to the virus  urn:newsml:reuters.com:*:nFWN2BA1F5

 (Reporting by Lance Tupper)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))