Morgan Keegan Comments On Emeritus Q2 Earnings

According to Morgan Keegan, Emeritus ESC will report second quarter earnings after the close next Thursday, August 4, followed by a conference call at 5:00 PM EDT to discuss the results. Morgan Keegan said that its cash from facility operations (CFFO) estimate of $0.38 is $0.03 above the prior year period. “Investors are concerned about occupancy and rate trends given continued economic struggles. We are modeling a 0.1% increase in same-store occupancy and a 2.1% increase in same-store revenues per occupied unit. We believe these gains will be sufficient to drive CFFO growth. Our longer-term view remains that senior housing operators such as Emeritus are positioned to benefit from an improving economy and limited new supply.” Emeritus closed yesterday at $20.35.