Regional Health Stock Price, News & Analysis

Regional Health Properties, Inc. (AMEX: RHE, RHE-PA) announced noncompliance with NYSE American's listing standards after failing to file its Q1 2022 report on time. The notice was received on May 24, 2022, stating that the delayed filing was required by May 23, 2022. The company is currently working on completing the report and plans to file it within 30 days. If not rectified, the company may face delisting procedures. The company's stock will continue to trade under symbols ‘RHE’ and ‘RHE-PA’ but will be marked as a late filer.

Regional Health Properties, Inc. (NYSE American: RHE, RHE-PA) held a Special Meeting on May 2, 2022, for holders of its 10.875% Series A Cumulative Redeemable Preferred Shares and common stock. The meeting was adjourned to May 31, 2022, to solicit additional votes. An Exchange Offer for the Series A Preferred Stock has been initiated, extending the tender deadline to the same date. As of May 2, 2022, 2,275,300 shares had been tendered, demonstrating shareholder participation.

Regional Health Properties (RHE) announced the adjournment of its Special Meeting for shareholders of its 10.875% Series A Cumulative Redeemable Preferred Shares and Common Stock, initially held on March 28, 2022, to solicit additional votes. The meeting will be reconvened on May 2, 2022. Additionally, the company is extending the expiration date of its Exchange Offer for Series A Preferred Stock to May 2, 2022. As of March 28, 2022, 1,945,379 shares of Series A Preferred Stock had been tendered in the Exchange Offer.

Regional Health Properties, Inc. (NYSE American: RHE, RHE-PA) reported financial results for the year ending December 31, 2021. The company collected 94.1% of fourth-quarter cash rent and experienced total patient care revenues of $2.0 million for Q4, totaling $9.5 million for the year. Occupancy rates stood at 65.1% amid pandemic challenges. The exchange offer for Series A Preferred Shares aims to streamline capital structure. Net loss attributable to common stockholders was $661,000 for Q4, less than $1.0 million a year prior, with cash increasing to $6.8 million.

Regional Health Properties, Inc. (NYSE American: RHE, RHE-PA) has announced an Exchange Offer for its outstanding 10.875% Series A Cumulative Redeemable Preferred Shares, proposing to exchange them for newly issued 12.5% Series B Cumulative Redeemable Preferred Shares. This offer is valid until 11:59 p.m. on March 28, 2022, unless extended. The Exchange Offer's success is contingent upon shareholder approval of associated proposals during a special meeting. The complete terms are outlined in the Proxy Statement/Prospectus filed with the SEC.

Regional Health Properties, Inc. (RHE, RHEPA) reported a net loss of $39,000 for Q3 2021, improving from $73,000 in Q3 2020. Total rental revenues decreased by 4.0% to $4.1 million, primarily due to terminated subleases. Notably, the company maintained a strong cash position with $6.2 million on hand. Rent collections stood at 97.4%, and refinancing efforts are ongoing with interest costs reduced by 155 basis points. However, general and administrative costs rose by 30.8% to $1.0 million, highlighting increased operational expenses.

Regional Health Properties (RHE, RHEPA) reported a net loss of $503,000 for Q2 2021, compared to a net income of $412,000 the previous year. Total rental revenues decreased by 12.3% to $3.8 million, primarily due to lease terminations. Despite these challenges, the company ended the quarter with $5.6 million in unrestricted cash, up from $4.2 million at the start of the year. With rent collections at 97.1%, management is restructuring its capital to enhance growth opportunities post-COVID-19. The portfolio's occupancy rate was 67.7%, with rent coverage metrics at 1.71x before and 1.22x after management fees.

Regional Health Properties, Inc. (NYSE American: RHE, RHEPA) has joined the Russell Microcap® Index as of June 28, 2021. This inclusion enables automatic access to growth and value style indexes, which could enhance investor visibility. CEO Brent Morrison emphasized that this membership will help attract a wider audience as business fundamentals stabilize post-pandemic. The Russell indexes, managed by FTSE Russell, serve as benchmarks for $10.6 trillion in assets, indicating significant institutional interest.

Regional Health Properties (RHE) has filed a Form S-4 Registration Statement with the SEC to initiate an Exchange Offer. This proposal involves exchanging all outstanding shares of its 10.875% Series A Cumulative Redeemable Preferred Shares for 0.5 shares of newly issued Common Stock for each tendered share. Additionally, RHE will seek proxy approvals for amendments to its Articles of Incorporation. The Exchange Offer and proxy solicitation have not yet started; shareholders are advised to wait for further instructions. The securities may not be sold until the Registration Statement is effective.