The report says that since April during the midst of the coronavirus pandemic, "outpatient volumes have risen to 69% of pre-COVID levels… Accordingly, our MOB (medical office building) coverage has collected 95% of second quarter rent on average, stability which is reflected in unchanging MOB dividends."

As it pertains to senior housing trends, BTIG says senior housing facilities and their residents are taking the advice of health experts.

"Senior housing facilities that have maintained stringent social distancing and sanitation procedures have managed to keep (virus) case counts low throughout the pandemic," the report says. "This is especially true for the independent living properties that SNR (New Senior Investment Group, which is a stock ticker) owns,"

The numbers of seniors in such facilities who have contracted the virus has declined, BTIG says.

"Specifically, for SNR, less than 0.2% of residents and employees are positive for the virus, and the new case rate has declined 91% from peak levels in April," the report says. "Thus, 90% of SNR properties have begun lifting restriction using a phased approach so that residents can return toward normality and new residents can begin moving in."

The report concludes: "We expect this same-store operational and occupancy focus to remain at the forefront until REITs' cost of capital improves enough to return to the acquisition market."

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