SRZ is among the Top ranked (Rank 4) companies for Ownership of Senior Housing (Higher than Ventas: Rank 5) &
SRZ is among the top ranked companies for Management of Senior Housing Properties (Rank 2nd behind BKD: Ranked 1st)
Ownership :No of Units (Rank for 2008)
SRZ: 25,904 (Rank 4)
Ventas: 24,110 (Rank 5)
BKD: 18,777 (Rank 8)
I can understand the higher ranking for SRZ as it does not pay any dividents (unlike Ventas an REIT ) and is funneling all the money back into property acquisition/creation.. Also it is one of the largest property builders in senior housing space.
Managed Properties: No of Managed Units (Rank for 2007):
BKD: 51638 (Rank 1)
SRZ: 45932(Rank 2)
Emeritus: 16463 (Rank 7)
Surprisingly BKD is more of a management company than SRZ and BKD owns less no of units and has a higher debt burden. My understanding till now was SRZ was more of a management company and rest of the senior living companies were intent on buying the property while SRZ was only into management of properties.
SRZ (Market Cap:64.7 Million) owns more property than BKD (Market Cap: 616 Million) and SRZ has less Debt and higher Brand Recall. (SRZ is a no brainer value Buy)
Ventas (Market Cap:4.2 Billion but Ventas has other non senior housing assets such as hospitals so actually not comparable)
American Senior Housing Association Top 50 Owners:
American Senior Housing Top 50 Managers:
Please download the American Senior Housing Asociation Report of Top 50 for 2008 Here
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