No. of Recommendations: 1
From the Q1 release:

The average occupancy of our recently acquired six retirement communities was 61.2% in the 2016 first quarter, compared to 64.1% in the 2015 fourth quarter, reflecting the impact of the two new retirement communities that opened in February 2016.

With new facilities coming on line, it's difficult to pin-down the significance of this number. However, here is a reference point from Q4 occupancies:

http://business.financialpost.com/investing/trading-desk/ext...

The company acquired a facility in Port Hope, Ont., in October that has 64 suites but is only 39-per-cent occupied. In December, facilities in Tillsonburg, Ont., Saskatoon and Regina will be added, and they are 60-per-cent, 90-per-cent and 72-per-cent occupied, respectively.

It seems that they may have excess capacity into 2017. However, related revenue has increased. So, they must be filling.

The average daily revenue rate was $144.86 in the 2016 first quarter compared to $131.41 in the 2015 fourth quarter.

Maybe this will accelerate once the snowbirds return for summer.

Going back to the Q4, 2015 article:

The analyst [Yashwant Sankpal, Canadian Imperial Bank of Commerce] upped his 12- to 18-month target price on the stock from $8.70 to $9.40 which is inline with his net asset value for the company of $9.40 per share.

EXE closed at CD9.50 yesterday; now down to CD9.10.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.