INDS - Healthcare REITs: Vaccine Revival

• Left for dead early in the pandemic, the prognosis for Healthcare REITs has improved dramatically over the several quarters as coronavirus cases have been all-but-eradicated in U.S. senior housing facilities.
• Senior Housing REITs - the hardest-hit sub-sector - have led the recovery as occupancy rates appear to have bottomed in early 2021, benefiting from the red-hot and undersupplied housing market.
• Cut-and-Run or Ante-Up? While HealthPeak has completed its exit from the senior housing sector to focus on medical office and lab space, Welltower and Ventas are doubling-down with major acquisitions.
• The pandemic dramatically altered patterns of outpatient healthcare delivery, and advancements in telemedicine and remote work trends have clouded the demand outlook for medical office REITs.
• Driven by the aging Baby Boomers - and trillions of dollars in savings and built-up home equity - fundamentals remain particularly compelling over the coming decade for senior housing REITs.

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