Demand
for high-end senior housing is poised to take off, according to a recent
article in National Real Estate Investor.
Charles Bissell, managing director of valuation
and advisory services with commercial real estate services firm JLL, based in
Richardson, Texas said,
“It is a strong sector right now, and it really all goes back to the health of the
economy and the health of the housing market. When seniors have the ability to
sell their houses and generate significant proceeds from those sales, they are
a lot more bullish about going into a luxury community.”
[You can read the full
article here.]
One REIT that I like in this sector is LTC
Properties, Inc. (LTC). The company builds and now operates more than 200 seniors
housing and health care properties across the U.S.
For the first quarter of 2017, the company
reported income of 78 cents per share, which was in line with analysts’
expectations.
I bought shares of LTC in Sept. 2014 for $39.
They’re now selling for about $47. Over the past 52 weeks, prices have ranged
from $43-$54. But with a 4.82% yield, plus the upcoming demand for their
product, I don’t mind waiting for a comeback.
Until next time,
George
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