The Ensign Group’s (ENSG) board of directors recently approved the spinoff of its healthcare/senior housing focused REIT, CareTrust REIT. Sounds like they spent a lot of time thinking about that name. The distribution is expected to take place on June 2nd to shareholders on record as of May 22nd. The new company will trade on the NASDAQ under the ticker… Read More »
Amidst the current carnage, it feels a bit disingenuous singling out one or two individual stocks for poor performance, but some spin-offs have taken quite a beating recently. Just prior to the increase in market ‘volatility’, nursing home operator and health care REIT stocks nose-dived because the CMS announced a harsher than expected (11.1%) cut in Medicare reimbursement… Read More »
Jim Royal, one of The Motley Fool’s “Rising Stars”, sure has taken a liking to spinoffs. He recently penned a brief note pegging recent spinoff Sabra Healthcare REIT(SBRA), and future spinoffs Rainbow Media and Northrup Grumman’s(NOC) shipbuilding unit as “Spinoff Stocks Worth Watching“. In a followup piece, Royal recommends buying Sabra, which recently spun out from Sun Healthcare(SUNH).… Read More »