Senior Housing Properties Trust (NYSE:SNH) shares are trading lower with strong volume today following the news late yesterday that it had priced a public offering of 8 million common shares at $21 per share.
The company said it expects to use the proceeds of the offering to repay amounts outstanding under its revolving credit facility, and for general business purposes, including funding acquisitions.
The underwriters have been granted the option to purchase an additional 1.2 million common shares to cover over-allotments.
Senior Housing Properties is a real estate investment trust that owns hospitals, nursing homes and senior living facilities.
Competitors in the space include HCP (NYSE:HCP), Health Care REIT (NYSE:HCN), and LTC Properties (NYSE:LTC).
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.