Griffin-American Healthcare REIT III Announces $9.40 NAV Per Share

October 7, 2019 | SEC

On October 3, 2019, the board of directors of Griffin-American Healthcare REIT III, at the recommendation of the Audit Committee of the Board, which Committee is comprised solely of independent directors, unanimously approved and established an updated estimated per share NAV of the Company’s common stock of $9.40. The updated estimated per share NAV is based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding on a fully diluted basis, calculated as of June 30, 2019.

The Board previously determined an estimated per share NAV of the Company’s common stock of $9.37 calculated as of June 30, 2018, and $9.27 calculated as of June 30, 2017. The Company intends to publish an updated estimated per share NAV on at least an annual basis.

According to the 8-K filed with the SEC on October 3, the appraised properties of the REIT were valued at $8.80 per share as of June 30, 2019, up from $8.27 as of June 30, 2018, and its interest in the Trilogy Joint Venture was valued at $3.99 per share, up from $3.63 per share over the same time period.  Debt liabilities increased from $3.03 per share as of June 30, 2018, to $3.74 per share as of June 30, 2019. The year-over-year amounts may not be directly comparable due to activity such as in-period acquisitions, dispositions, debt financings or repayments and capital investments.

Source:  SEC