SEATTLE — The coronavirus pandemic has had a noticeable impact on seniors housing REIT stocks, particularly following the news of several outbreaks in skilled nursing facilities in and near Seattle.
Stocks in nearly all industries have been falling amid the pandemic. According to data compiled by stock news site SeeekingAlpha, among the seniors housing REITs, Sabra Health Care (NASDAQ: SBRA) fell 15 percent; Welltower (NYSE: WELL) fell 12.7 percent; Omega Healthcare (NYSE: OHI) fell 11.1 percent; New Senior Investment Group (NYSE: SNR) fell 10.4 percent; Medical Properties Trust (NYSE: MPW) fell 10.5 percent; and Ventas (NYSE: VTR) fell 12.4 percent.
The Issaquah Nursing Home and Rehabilitation Center was the site of one notable outbreak. Publicly traded Sabra Health Care REIT owns the property, which North American Healthcare operates. Several residents have tested positive for COVID-19 and one has died.
It is far from the worst case, though, especially in the Seattle metro area. For instance, Reuters reports that at Life Care Center of Kirkland in Kirkland, Washington, at least 13 of the facility’s 120 patients have died from COVID-19 complications. Of the 53 residents still at the facility, 31 have tested positive for the virus.