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| Company Name | Symbol | %Change |
|---|---|---|
| NOAH HOLDING | NOAH | 13.03% |
| EAGLE BULK S | EGLE | 9.39% |
| VIPSHOP HOLD | VIPS | 7.20% |
| INFORMATION | III | 7.14% |
| ORBOTECH LTD | ORBK | 6.46% |
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National Health Investors Inc. ( NHI - Snapshot Report ) announced the purchase and leaseback agreement with Washington based Milestone Retirement Communities LLC. The purchase and leaseback consideration is worth $9 million.
Through this 101-unit acquisition, National Health gets hold of three out of sixteen of the operating segments of Milestone. Of these three facilities, two are in Oregon and the third one is located in Idaho. The facilities will be leased for 10 years with annual fixed escalators and a lease rate of 7.75%. The deal also entails Milestone to lease and operate its facilities for the stipulated period.
The transaction was financed from National Health’s revolving credit facility. The company’s filing, at the end of the third quarter of 2012, stated that this facility has a withdrawal capacity of a $145 million and we consider this to be more than sufficient to fund the recent agreement.
National Health expects the agreement to consolidate its present growth portfolio. The Zack Consensus Estimate for the full year 2012 is pegged at $3.17, reflecting a year-over-year increase of 91.14%.
National Health is dedicated to financing of healthcare real estate through purchase and leaseback and through mortgage loans. It has undertaken several purchase and leaseback deals to fortify its fundamentals, strengthen its relationship with other companies and to establish itself globally. Earlier in the third quarter of 2012, National Health announced the acquisition of Senior Living campus in Loma Linda in October 2012 for $12 million. The latest on the list was financing the Capital Funding Group with $10 million for its healthcare loan investments in November 2012. Concurrent to the deal with Milestone it also agreed upon an acquisition of Charleston house, located in Beaver Dam for $20.2 million.
National health currently holds a Zacks #2 Rank which translates into a short term Buy rating. HCP Inc. ( HCP - Analyst Report ) which closely competes with the company currently holds a Zacks #3 Rank translating into a short term Hold rating.
Read the full Analyst Report on HCP
Read the full Snapshot Report on NHI