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GAHR4 Griffin-American Healthcare REIT IV

Griffin-American Healthcare REIT IV intends to build a balanced and diversified portfolio of healthcare real estate assets, focusing primarily on medical office buildings, hospitals, skilled nursing facilities, senior housing and other healthcare-related facilities. Griffin-American Healthcare REIT IV also seeks to provide: portfolio diversification, preservation of capital, monthly distributions and capital appreciation by increasing the value of its properties for its stockholders. Griffin-American Healthcare REIT IV qualified to be taxed as a real estate investment trust for federal income tax purposes beginning with its taxable year ended December 31, 2016, and it intends to continue to qualify to be taxed as a REIT. The REIT is co-sponsored by American Healthcare Investors and Griffin Capital Company, LLC. For more information regarding Griffin-American Healthcare REIT IV, please visit www.healthcarereitiv.com.

Company profile

Ticker
GAHR4
Employees
Incorporated
Location
Fiscal year end
Former names
Griffin-American Healthcare REIT 4, Inc., Griffin-American Healthcare REIT IV, Inc.
SEC CIK
Subsidiaries
Griffin-American Healthcare REIT IV Holdings, LP • GAHC4 Athens GA MOB Portfolio, LLC • GAHC4 Athens GA MOB I, LLC • GAHC4 Athens GA MOB II, LLC • GAHC4 Auburn CA MOB, LLC • GAHC4 Arvada CO • GAHC4 Balmoral FL SH, LLC • GAHC4 Balmoral FL TRS Sub, LLC • GAHC4 Battle Creek MI MOB, LLC • GAHC4 Bayou JV, LLC ...

Calendar

13 Aug 21
20 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
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Net income
Net profit margin
Cash on hand
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Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
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Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 22.51M 22.51M 22.51M 22.51M 22.51M 22.51M
Cash burn (monthly) (positive/no burn) (positive/no burn) 1.29M 1.48M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a 4.75M 5.45M n/a n/a
Cash remaining n/a n/a 17.76M 17.06M n/a n/a
Runway (months of cash) n/a n/a 13.7 11.5 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
4 Oct 21 Brian Peay Class T Common Stock Grant Acquire A No No 0 130,158 0 130,158
4 Oct 21 Gabriel M Willhite Class T Common Stock Grant Acquire A No No 0 104,972 0 104,972
1 Oct 21 Hurley Dianne Class T Common Stock Grant Acquire A No No 0 2,500 0 41,570
1 Oct 21 Flornes Brian J. Class T Common Stock Grant Acquire A No No 0 2,500 0 37,500
1 Oct 21 Smith Wilbur H III Class T Common Stock Grant Acquire A No No 0 2,500 0 43,170

Financial report summary

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Risks
  • Failure to complete the Merger could negatively impact our future business and financial results.
  • The pendency of the Merger, including as a result of the restrictions on the operation of our and GAHR III’s business during the period between signing the Merger Agreement and the completion of the Merger, could adversely affect our business and operations, the business and operations of GAHR III, or both.
  • In certain circumstances, either we or GAHR III may terminate the Merger Agreement.
  • We and GAHR III each expect to incur substantial expenses related to the Merger.
  • If and when the Combined Company completes a liquidity event, the market value ascribed to the shares of common stock of the Combined Company upon the liquidity event may be significantly lower than the estimated per share NAV of GAHR III common stock or our common stock, as applicable, considered by the board of directors of GAHR III and our board in approving and recommending the REIT Merger.
  • If the REIT Merger does not qualify as a tax-free reorganization, there may be adverse tax consequences.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • The use of the words “we,” “us” or “our” refers to Griffin-American Healthcare REIT IV, Inc. and its subsidiaries, including Griffin-American Healthcare REIT IV Holdings, LP, except where otherwise noted. Capitalized terms related to a proposed merger with Griffin-American Healthcare REIT III, Inc., or GAHR III, are defined and further discussed below in the “Factors Which May Influence Results of Operations — Proposed Merger with GAHR III” section.
  • Historical results and trends should not be taken as indicative of future operations. Our statements contained in this report that are not historical facts are forward-looking. Actual results may differ materially from those included in the forward-looking statements. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations, are generally identifiable by use of the words “expect,” “project,” “may,” “will,” “should,” “could,” “would,” “intend,” “plan,” “anticipate,” “estimate,” “believe,” “continue,” “opinion,” “predict,” “potential,” “seek” and any other comparable and derivative terms or the negatives thereof. Our ability to predict results or the actual effect of future plans and strategies is inherently uncertain. Factors which could have a material adverse effect on our operations on a consolidated basis include, but are not limited to: changes in economic conditions generally and the real estate market specifically; the effects of the coronavirus, or COVID-19, pandemic, including its effects on the healthcare industry, senior housing and skilled nursing facilities and the economy in general; legislative and regulatory changes, including changes to laws governing the taxation of real estate investment trusts, or REITs; the availability of capital; changes in interest rates; the risk that the Merger will not be consummated within the expected time period or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; the inability of GAHR III or us to obtain the approval of the Merger from its or our stockholders or the failure to satisfy the other conditions to completion of the Merger; GAHR III’s inability to consummate the AHI Acquisition, as defined in the “Factors Which May Influence Results of Operations — Proposed Merger with GAHR III” section below; risks related to disruption of management’s attention from the ongoing business operations due to the Merger; uncertainty from the expected discontinuance of the London Inter-bank Offered Rate, or LIBOR, and the transition to any other interest rate benchmark; competition in the real estate industry; changes in accounting principles generally accepted in the United States of America, or GAAP, policies and guidelines applicable to REITs; the success of our investment strategy; the availability of financing; and our ongoing relationship with American Healthcare Investors, LLC, or American Healthcare Investors, and Griffin Capital Company, LLC, or Griffin Capital, or collectively, our co-sponsors, and their affiliates. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Forward-looking statements in this Quarterly Report on Form 10-Q speak only as of the date on which such statements are made, and undue reliance should not be placed on such statements. We undertake no obligation to update any such statements that may become untrue because of subsequent events. Additional information concerning us and our business, including additional factors that could materially affect our financial results, is included herein and in our other filings with the SEC.
Content analysis
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H.S. senior Avg
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