Ensign Group Inc Stock Price, News & Analysis

The Ensign Group (NASDAQ: ENSG) has expanded its presence in Wisconsin through multiple strategic acquisitions effective November 1, 2024. The company acquired the 82-bed Benedictine Living Community Wausau skilled nursing facility through its REIT subsidiary, Standard Bearer Healthcare. Additionally, Standard Bearer acquired four assisted living facilities in Wisconsin: Marla Vista Assisted Living (40 assisted living/20 memory care beds), Marla Vista Manor (20 memory care beds), Carrington Assisted Living (20 beds), and Carolina Assisted Living (45 beds). These facilities will be operated by The Pennant Group affiliates. With these acquisitions, Ensign's portfolio now includes 325 healthcare operations across fourteen states, with 128 owned real estate assets.

CareTrust REIT has announced a binding agreement to acquire a $500 million portfolio of 31 skilled nursing facilities through a joint venture. The portfolio includes 3,290 licensed beds, with 30 facilities in Tennessee and 1 in Alabama. The transaction is expected to close in Q4 2024. PACS Group will operate 12 facilities, Ensign Group 9 facilities, Links Healthcare 7 facilities, and a new regional operator 3 facilities. CareTrust's investment in the joint venture will be approximately $442 million with an initial yield of 9.0%. The company's updated investment pipeline stands at $700 million.

The Ensign Group (ENSG) has announced plans to expand its operations by adding eight skilled nursing facilities in Tennessee and its first operation in Alabama. Six facilities will be jointly owned by CareTrust REIT and a private joint venture investor under new long-term triple net master leases, while three will be purchased by Ensign's subsidiary, Standard Bearer Healthcare REIT. The expansion will increase Ensign's Tennessee presence from three to eleven locations. Upon completion, Ensign's portfolio will encompass 332 healthcare operations across 15 states, including 125 owned real estate assets.

The Ensign Group (ENSG) reported strong Q3 2024 results with significant growth across key metrics. GAAP net income reached $78.4 million, up 22.8% year-over-year, while adjusted net income grew 17.7% to $81.1 million. The company achieved GAAP diluted EPS of $1.34 and adjusted EPS of $1.39. Same Facilities and Transitioning Facilities showed impressive occupancy increases of 2.8% and 4.8% respectively. Consolidated revenue reached $1.08 billion, marking a 15% increase. Based on these strong results, Ensign raised its 2024 earnings guidance to $5.46-$5.52 per diluted share and revenue guidance to $4.25-$4.26 billion.

The Ensign Group, Inc. (Nasdaq: ENSG), a parent company investing in skilled nursing, senior living, and healthcare services, has announced its schedule for the third quarter 2024 earnings call. The company plans to release its financial results on Thursday, October 24th, 2024, followed by a live webcast on Friday, October 25, 2024, at 10:00 a.m. Pacific Time.

During the webcast, Ensign's management will discuss the company's Q3 2024 performance. Investors can access the webcast through the Investors section of Ensign's website. The recorded webcast will be available for replay until November 29th, 2024.

Ensign's independent operating subsidiaries provide a range of healthcare services across 323 facilities in 14 states, including Arizona, California, Colorado, and others.

The Ensign Group (Nasdaq: ENSG) has appointed Mark Parkinson to its Board of Directors as its ninth member, effective October 21, 2024. Parkinson, who recently retired as President and CEO of the American Health Care Association (AHCA) and National Center for Assisted Living (NCAL), fills a vacancy created by a board expansion approved in May.

Christopher Christensen, Ensign's Executive Chairman, expressed enthusiasm for Parkinson's appointment, citing his leadership and service to the industry. Parkinson's term will end at the 2025 annual shareholders meeting, with anticipated nomination for a two-year term as a Class II director.

Parkinson's background includes serving as the 45th Governor of Kansas, the 47th Lieutenant Governor, and owning nursing home and senior living facilities. The Ensign Group operates 323 healthcare facilities across 14 states, providing skilled nursing, senior living, and rehabilitation services.

The Ensign Group, Inc. (Nasdaq: ENSG) has announced the acquisition of two healthcare facilities in Norfolk, Nebraska: St. Joseph Rehabilitation and Care Center, an 83-bed skilled nursing facility, and Skyview Villa Assisted Living, a 20 licensed-bed assisted living facility. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign's captive real estate company. This acquisition, effective October 1, 2024, expands Ensign's portfolio to 324 healthcare operations across fourteen states, with 30 including senior living operations. Ensign subsidiaries, including Standard Bearer, now own 123 real estate assets.

Barry Port, Ensign's CEO, expressed enthusiasm for the growth in Nebraska and the addition to Standard Bearer's Midwest portfolio. Dave Jorgensen, President of Gateway Healthcare , Ensign's Nebraska-based subsidiary, highlighted the facilities' strong reputation and the team's readiness to provide elevated care.

The Ensign Group, Inc. (Nasdaq: ENSG), a leading provider of skilled nursing and senior living services, has declared a quarterly cash dividend of $0.06 per share of common stock. This dividend is payable on or before October 31, 2024, to shareholders of record as of September 30, 2024. Ensign has consistently paid dividends since 2002, demonstrating its commitment to shareholder returns.

The company's independent operating subsidiaries offer a wide range of healthcare services, including skilled nursing, senior living, physical, occupational and speech therapies, and other rehabilitative care. Ensign operates 323 healthcare facilities across 14 states, primarily in the western and southern United States.

The Ensign Group (Nasdaq: ENSG) has expanded its portfolio with new acquisitions in Kansas and Colorado. In Kansas, the company acquired Prairie Ridge Health and Rehabilitation, a 102-bed skilled nursing facility in Overland Park. In Colorado, Ensign added seven skilled nursing facilities with a total of 760 beds across various locations. These acquisitions, effective September 1, 2024, bring Ensign's portfolio to 323 healthcare operations across fourteen states, including 29 with senior living operations. The company also owns 122 real estate assets through its subsidiaries.

Ensign's CEO, Barry Port, emphasized the company's growth in Kansas and its active pursuit of acquisition opportunities nationwide. The new facilities will operate under long-term, triple net leases, aligning with Ensign's strategy of expanding its presence in the healthcare and senior living sectors.