Ensign Group Inc Stock Price, News & Analysis

The Ensign Group (Nasdaq: ENSG) has expanded its portfolio with the acquisition of Holly Heights Care and Rehabilitation, a 133-bed skilled nursing facility in Denver, Colorado. This facility will be operated by an Ensign-affiliated operator, with the real estate acquired by Standard Bearer Healthcare REIT, Ensign's captive real estate company. The transaction was effective August 1, 2024.

Additionally, Ensign acquired two more facilities on the same day: Greater Southside Health and Rehabilitation in Des Moines, Iowa (76 beds), and City Park Healthcare and Rehabilitation Center in Denver, Colorado (125 beds). These acquisitions bring Ensign's portfolio to 315 healthcare operations across fourteen states, with 29 including senior living operations. Standard Bearer now owns 122 real estate assets.

The Ensign Group (Nasdaq: ENSG) has expanded its portfolio with the acquisition of Greater Southside Health and Rehabilitation, a 76-bed skilled nursing facility in Des Moines, Iowa. This acquisition, effective August 1, 2024, was made through Standard Bearer Healthcare REIT, Ensign's captive real estate company. Barry Port, Ensign's CEO, emphasized the company's continued growth in Iowa and the strategic importance of this addition to Standard Bearer's Midwest portfolio.

Simultaneously, Ensign acquired two additional facilities in Denver, Colorado: Holly Heights Care and Rehabilitation (133 beds) and City Park Healthcare and Rehabilitation Center (125 beds). These acquisitions bring Ensign's total portfolio to 315 healthcare operations across 14 states, with 29 including senior living operations. Ensign subsidiaries now own 122 real estate assets.

The Ensign Group (Nasdaq: ENSG) has expanded its operations in Colorado with the acquisition of City Park Healthcare and Rehabilitation Center, a 125-bed skilled nursing facility in Denver. This acquisition, effective August 1, 2024, is subject to a long-term, triple net lease. Simultaneously, Ensign acquired two additional facilities: Greater Southside Health and Rehabilitation in Des Moines, Iowa (76 beds), and Holly Heights Care and Rehabilitation in Denver, Colorado (133 beds).

These acquisitions bring Ensign's portfolio to 315 healthcare operations across fourteen states, with 29 including senior living operations. Ensign subsidiaries, including Standard Bearer, now own 122 real estate assets. The company continues to seek opportunities for growth in skilled nursing, senior living, and other healthcare-related businesses throughout the United States.

The Ensign Group (Nasdaq: ENSG) announced its second-quarter 2024 results with notable growth. GAAP diluted earnings per share increased by 8.9% to $1.22, while adjusted diluted earnings per share grew by 13.8% to $1.32. GAAP net income reached $71.0 million, a 11.0% rise, and adjusted net income was $76.4 million, marking a 15.3% increase.

Revenue climbed 12.5% to $1.04 billion. Significant growth was seen in Same Facilities and Transitioning Facilities occupancy, and managed care revenue increased by 12.2% and 36.5%, respectively. The company also raised its annual earnings guidance to $5.38-$5.50 per share and revenue guidance to $4.20-$4.22 billion.

Ensign's liquidity remains strong with $477.3 million in cash and a $573.1 million line-of-credit. The company added ten new operations and six real estate assets this quarter.

The Ensign Group (Nasdaq: ENSG) has announced its schedule for the second quarter 2024 earnings call, set for Friday, July 26, 2024, at 10:00 a.m. Pacific Time. The company plans to release its financial results on Thursday, July 25, 2024. Investors can access the live webcast through the Investors section of Ensign's website, where management will discuss the company's Q2 2024 performance.

Ensign Group operates through independent subsidiaries, providing skilled nursing, senior living services, therapies, and other healthcare services across 312 facilities in 14 states. The webcast recording will be available for replay until August 30, 2024, at 5:00 p.m. Pacific Time.

The Ensign Group (Nasdaq: ENSG) has declared a quarterly cash dividend of $0.06 per share, payable by July 31, 2024, to shareholders recorded by June 30, 2024. Ensign, which offers skilled nursing, senior living, and various therapy services, has been paying dividends since 2002. The company operates 312 healthcare facilities across 14 states, including Arizona, California, and Texas. For more details, visit their website or contact them at their provided information.

The Ensign Group (Nasdaq: ENSG) announced the acquisition of two skilled nursing facilities. Effective June 1, 2024, Ensign acquired Wellsprings of Gilbert, a 32-bed facility in Gilbert, Arizona, and The Springs at St. Andrews Village, a 58-bed facility in Aurora, Colorado. The acquisition was facilitated by Standard Bearer Healthcare REIT, Ensign's real estate subsidiary. Barry Port, Ensign's CEO, expressed excitement about the expansion, which brings their portfolio to 312 healthcare operations across 14 states. Ensign continues to seek opportunities for further acquisitions and leases in the healthcare sector.

The Ensign Group (Nasdaq: ENSG) announced the acquisition of The Springs at St. Andrews Village, a 58-bed skilled nursing facility in Aurora, Colorado, effective June 1, 2024. This facility operates under a long-term, triple net lease. Ensign's CEO, Barry Port, expressed enthusiasm about expanding in Colorado. In a separate transaction, Ensign acquired the operations and real estate of Wellsprings of Gilbert, a 32-bed skilled nursing facility in Gilbert, Arizona. This real estate was acquired by Standard Bearer Healthcare REIT, Ensign's real estate subsidiary. These acquisitions expand Ensign's portfolio to 312 healthcare operations across 14 states, with 120 owned properties. Ensign is actively seeking more acquisition opportunities nationwide.

CareTrust REIT, Inc. (NYSE:CTRE) funded a $26.7 million mortgage loan for a 2-asset skilled nursing portfolio in Tennessee. The facilities will be operated by The Ensign Group, Inc. The company reported a $260 million investment pipeline and $273 million Q1 ATM activity.