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June 23, 2014
08:01 EDTADKAdCare leases South Georgian facility
AdCare announced that, as part of its ongoing rationalization plan, it has signed an agreement to sublease one of its skilled nursing and rehabilitation facilities in South Georgia to a local nursing home operator effective July 1. AdCare incurred losses of approximately $92,000 in connection with operating this 52-bed facility during the first four months of this year; the facility is now expected to contribute approximately $90,000 of net profits annually during the life of the sublease. Under the terms of the triple net lease agreement, the lessee will be responsible for day-to-day management, ongoing maintenance and facility improvements for the duration of the lease. AdCare says its board is presently considering a number of other similar options across its portfolio to drive cash flow and maximize shareholder value and is being assisted and advised by an investment banking firm in evaluating these strategies.
News For ADK From The Last 14 Days
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November 12, 2015
07:10 EDTADKAdCare announces share repurchase program of up to 500K shares of common stock
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07:09 EDTADKAdCare announces post-transition guidance
The company has entered into agreements for all 40 of the healthcare facilities it owned, operated or managed before the transition commenced. Post transition, the company expects annual adjusted FFO 25c-30c, annual revenue $31M-$31.8M, annual rent expense of $8.6M, annual expense G&A expense $5M-$5.3M, annual net interest expense $7.1M-$7.2M, and annual preferred dividends of $6.3M.
07:07 EDTADKAdCare reports Q3 EPS cont ops (17c) vs. (61c) last year
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