Post by
NonCredibleSrc on May 05, 2023 8:48am
Pretty cryptic Q1 update...
Loss for Q1 2023 ~$6 mil higher than Q1 2022 even though " All platforms achieved occupancy gains in Q1 2023 compared to Q1 2022" and they have "begun to see a meaningful reduction in utilization of staffing agencies"?
Occupancy appears to be on the downtick still. I have heard the company say they "believe there is a pent up demand for retirement", but they haven't quantified this, nor do (actual) results support it so far.
I was surprised not to see a cut to distributions as cash on hand only covers a single month of distros.
Do I have a negative view on the stock? Yes; at least for the next 4-7 years. Short? Possibly.
Comment by
DanielDarden on May 05, 2023 12:29pm
I appreciate your being upfront about your short position. Too often here, I see many weird attempts at buying cheaper stock. My posts obviously demonstrate that I am long here for the reasons provided. The analysts seem to agree with me for now but that could change. Good luck.
Comment by
NonCredibleSrc on May 05, 2023 4:12pm
Good luck to you as well! Today definitely worked in your long favour. Time will tell.