Nursing home operator Skilled Healthcare Group Inc said late Monday that it was exploring strategic alternatives, including a potential sale of the company. The company said it has appointed J.P. Morgan Securities LLC to explore options like selling its real estate assets or the whole company. "With the reimbursement overhangs reduced, and the strong real estate valuations received by its competitors, this is an opportune time for Skilled Healthcare to consider its alternatives," Oppenheimer analyst Michael Wiederhorn said. Jefferies analyst Arthur Henderson said the review could open up an opportunity for Skilled Healthcare to realize fair value in a more timely manner. The Foothill Ranch, California-based company's shares, which have risen 4 percent since fourth-quarter results beat estimates in February, closed at $14.02 on Monday on the New York Stock Exchange.
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