(02.12.2018, 13:01)sonic123 schrieb: Warum ist OHI zwischen 1998 und 2001 um 95% gefallen? Das macht mich nicht optimistisch so einen Wert zu kaufen.
Kurs UND Dividende von OHI schmierten in der Zeit ab!
Zur Begründung die Betrachtung von SimplySafeDividends:
"By now, the murky risks of the SNF industry should be clear, and it may not come as a surprise to learn that Omega was forced to cut its dividend in 2000. But why did the company have to cut its dividend, and could that same risk reemerge in the future?
The answer comes from Omega’s 2001 annual report. The Balanced Budget Act of 1997 introduced a new payment system for the reimbursement of Medicare patients in SNFs.
A major shift took place in which a cost-based reimbursement system that was historically used was essentially abandoned in favor of a reimbursement system that capped payments per service at a fixed amount. This was done by the government to save money and attempt to balance the federal budget by 2002.
While some of these payments changes were reversed by subsequent legislation in 1999-2000, the result was a major reduction in payments made to nursing home operators.
Many of Omega’s tenants were forced to declare Chapter 11 bankruptcy and could no longer make their rent payments. They had generally been levering up to fund acquisitive growth in the years leading up to the legislation and were not prepared for the substantial reimbursement reductions.
By all means, the reforms made to the Medicare reimbursement system in the late 1990s were nothing short of transformational.
While federal policy is still characterized by a healthy dose of uncertainty today, new legislation will likely be relatively more incremental, phased in over a long period of time, and will not result in bankruptcies like those that occurred over 15 years ago."
