United Against the Storm: Senior Housing Leaders Join Forces to Protect Tampa Seniors During Hurricane Milton
Senior Lifestyle Relocates Coastal Residents to Bridge Senior Living Community, Demonstrating the Power of Alliance in Times of Crisis
CHICAGO, Oct. 21, 2024 /PRNewswire/ — As Hurricane Milton threatened Florida’s west coast, Senior Lifestyle and Bridge Senior Living joined forces to protect residents of The Estate at Hyde Park, a Senior Lifestyle memory care community located along Tampa’s coastline. Within just 2.5 hours of receiving the evacuation notice, residents were safely relocated to The Carlisle Palm Beach, a Bridge Senior Living community outside the storm’s path.
Justin Robins, Executive Vice President and Chief Operating Officer of Senior Lifestyle, partnered with Bridge Senior Living, to develop and implement the evacuation plan. “Our residents are like family, and their safety is our ultimate responsibility,” said Robins. “The partnership with Bridge Senior Living was essential in ensuring the well-being of our memory care residents during Hurricane Milton. We are incredibly grateful to the Bridge Senior Living team and The Carlisle for their quick response and hospitality.”
The care team at The Estate at Hyde Park, including nurses and leadership, traveled with the residents to ensure continuous care throughout the relocation process. Christy Gray, Interim Executive Director at The Estate at Hyde Park, successfully led the team through the evacuation, ensuring residents’ needs were met at every step.
During the three-day stay at The Carlisle, The Estate at Hyde Park team members continued to provide seamless care—managing medications, meals, and daily activities for the residents. Meanwhile, The Carlisle team offered invaluable support by providing a welcoming and hospitable environment for the relocated residents.
The Bridge Senior Living team shared that it was an easy decision to open The Carlisle’s doors to the residents of The Estate at Hyde Park. Their leadership team believes when seniors’ safety is at stake, collaboration is crucial and demonstrates the strength of the industry’s commitment to every resident.
Families of the residents expressed deep gratitude for the coordinated efforts. Alicia Pelaez, whose mom is a resident at The Estate at Hyde Park, visited her at The Carlisle. “The nurses and everyone here were just amazing,” said Pelaez. “They really cared about our loved ones, making sure their days stayed as normal as possible, and they even found ways to keep them engaged and smiling. It wasn’t just a job for them—you could tell they truly put the residents first.”
About Senior Lifestyle
Since 1985, Senior Lifestyle has been a trusted leader in senior living services, with more than 100 communities nationwide. Senior Lifestyle provides a range of personalized living options for seniors requiring varying levels of care, including independent living, assisted living, memory care and continuing care. Senior Lifestyle has been routinely recognized as a leader in the delivery of innovative programs and hospitality services for all levels of care and consistently strives to provide Great Places to Work and Great Places to Live. For more information, visit SeniorLifestyle.com.
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SOURCE Senior Lifestyle
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General Motors, Verizon And 3 Stocks To Watch Heading Into Tuesday
With U.S. stock futures trading lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
- Wall Street expects General Motors Company GM to report quarterly earnings at $2.43 per share on revenue of $44.59 billion before the opening bell, according to data from Benzinga Pro. GM shares gained 0.8% to $49.31 in after-hours trading.
- Zions Bancorporation ZION reported better-than-expected financial results for the third quarter on Monday. Zions Bancorporation shares gained 3.2% to $51.00 in the after-hours trading session.
- Analysts are expecting Verizon Communications Inc. VZ to post quarterly earnings at $1.18 per share on revenue of $33.43 billion. The company will release earnings before the markets open. Verizon shares gained 0.4% to $43.86 in after-hours trading.
Check out our premarket coverage here
- RLI Corp. RLI reported stronger-than-expected earnings and sales results for the third quarter on Monday. The company reported quarterly earnings of $1.31 per share which beat the analyst consensus estimate of 98 cents per share. The company reported quarterly sales of $401.544 million which beat the analyst consensus estimate of $389.487 million. RLI shares gained 1.2% to $164.00 in the after-hours trading session.
- Analysts expect Lockheed Martin Corporation LMT to report quarterly earnings at $6.50 cents per share on revenue of $17.35 billion before the opening bell. Lockheed Martin shares rose 0.3% to $616.50 in after-hours trading.
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Cathie Wood's Ark Invest Buys $3.95M Worth Of Amazon Stock Amid Company's Nuclear Moves
On Monday, Cathie Wood-led Ark Invest made a significant move by purchasing shares of Amazon.com Inc AMZN. This comes amidst recent developments suggesting that Amazon may be ramping up its interest in nuclear energy to fuel its growing needs.
The Amazon Trade
Ark Invest’s ARK Autonomous Technology & Robotics ETF ARKQ fund purchased 20,883 shares of Amazon, reflecting 0.4951% of the ETF. At the closing price of $189.07 on the same day, the value of the trade amounts to approximately $3.95 million. This move follows a series of recent developments around Amazon’s potential foray into nuclear energy.
A Benzinga report, in September, revealed that Amazon had reposted a job opening for a Principal Nuclear Engineer in its Data Center Engineering division, raising questions about its long-term energy strategy. Additionally, Amazon announced the expansion of its collaboration with Intel Corp., which has also positively impacted its stock.
Wood’s confidence in Amazon has sparked a debate on whether this is a signal of the tech giant’s impending turnaround or another high-risk gamble.
Other Key Trades:
Ark Invest’s ARKG and ARKK funds bought shares of CRISPR Therapeutics AG (CRSP) and Cerus Corp CERS.
ARKQ sold a significant number of shares of Oklo Inc (OKLO) while buying shares of BWX Technologies Inc (BWXT) and 3D Systems Corp ( DDD). Shares of Materialise NV (MTLS) and Markforged Holding Corp (MKFG) were sold by the ARKQ and ARKX funds.
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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3 Superb Ultra-High-Yield Dividend Stocks With Yields North of 10% That Make for No-Brainer Buys Right Now
One of the best aspects about putting your money to work on Wall Street is that you have the ability to chart your own path to financial freedom. With thousands of publicly traded companies and exchange-traded funds (ETFs) to choose from, there is no one-size-fits-all strategy that you’ll have to stick to.
But among these seemingly countless ways to grow your wealth on Wall Street, few can hold a candle to the long-term returns delivered by dividend stocks.
Companies that dole out a dividend to their shareholders on a regular basis tend to be recurringly profitable and time-tested. More importantly, they’re almost always capable of providing transparent long-term growth outlooks — and Wall Street loves transparency.
In The Power of Dividends: Past, Present, and Future, the investment advisors at Hartford Funds, in collaboration with Ned Davis Research, compared the performance of income stocks to non-payers over the last half-century (1973-2023). What they found was that dividend stocks have more than doubled than average annual return of non-payers (9.17% vs. 4.27%), and did so while being less volatile than the benchmark S&P 500.
Ideally, investors want the highest yield possible with the least amount of risk. However, studies have shown that ultra-high-yield dividend stocks — those with yields that are at least four times higher than the yield of the S&P 500 — can sometimes be more trouble than they’re worth. But with extra vetting, high-octane gems can be uncovered.
What follows are three superb ultra-high-yield dividend stocks, all with yields north of 10%, which can confidently be added to income seekers’ portfolios right now.
Annaly Capital Management: 12.8% yield
The first supercharged dividend stock that makes for a no-brainer buy is mortgage real estate investment trust (REIT) Annaly Capital Management (NYSE: NLY). Annaly has declared $26 billion in dividends since its initial public offering in 1997, and it’s averaged around a 10% yield over the last two decades.
Over the past couple of years, there’s probably not an industry Wall Street has disliked more than mortgage REITs. These are companies that are highly sensitive to changes in interest rates. The fastest rate-hiking cycle by the Federal Reserve since the early 1980s, which kicked off in March 2022, sent short-term borrowing costs soaring. In turn, this shrunk the net interest margin for mortgage REITs, including Annaly.
However, mortgage REITs have historically performed their best in a declining-rate environment. The nation’s central bank has officially shifted to a rate-easing cycle, which is expected to reduce short-term borrowing costs. At the same time, the average yield Annaly Capital Management is netting from the mortgage-backed securities (MBS) in its portfolio will have risen. In short, this is a recipe for expanding net interest margin.
Another reason Annaly can thrive is because the Fed is no longer in its backyard, per se. At one point, the nation’s central bank was purchasing MBSs to stabilize the mortgage market. But in doing so, it reduced opportunities for Annaly to nab lucrative MBSs for its own portfolio. With yields on MBSs having risen since March 2022 and short-term borrowing costs on the decline, Annaly has a clearer path to high value assets without the Fed buying MBSs..
Lastly, Annaly Capital Management predominantly invests in agency assets. An “agency” security is backed by the federal government in the event of default on the underlying asset. This extra protection allows Annaly to lever its investments in order to pump up its profit potential.
PennantPark Floating Rate Capital: 10.4% yield
The second magnificent ultra-high-yield dividend stock that can be bought with confidence right now is little-known business development company (BDC) PennantPark Floating Rate Capital (NYSE: PFLT). PennantPark dishes out its dividend on a monthly basis and is currently sporting a rock-solid 10.4% yield.
BDCs are businesses that invest in the debt and/or equity (common and preferred stock) of middle-market companies, which are generally unproven small- and micro-cap enterprises. Although PennantPark’s management team is overseeing close to $209 million in various common and preferred equity positions, the bulk of the company’s portfolio — $1.45 billion — is tied up in first-lien secured debt.
There are a few clear-cut advantages to being a debt-focused BDC. To begin with, most middle-market companies lack access to basic financial services. Without access to traditional lending channels, PennantPark is reaping the rewards of a market-topping yield on the loans it holds.
Additionally, as the company’s name implies, the entirety of PennantPark Floating Rate Capital’s debt-securities portfolio is variable rate. This is to say that rates rise and fall in lockstep with the Fed’s monetary policy actions. Since September 2021, the company’s weighted average yield on debt investments has surged from 7.4% to 12.1%, as of June 30, 2024.
Don’t overlook the steps management has taken to protect the company’s principal, either. For instance, 99.9% of its loan portfolio is first-lien secured debt. This class of debtholders is first in line for repayment in the event of default.
What’s more, PennantPark has spread its $1.66 billion portfolio, including equity investments, across 151 companies. An average investment size of $11 million ensures that no one company is critical for success or capable of upending the ship.
Alliance Resource Partners: 11.2% yield
A third superb ultra-high-yield dividend stock that makes for a no-brainer buy right now is energy stock Alliance Resource Partners (NASDAQ: ARLP).
Entering this decade, coal producers like Alliance Resource Partners were effectively left for dead. Clean-energy solutions, such as wind and solar, were expected to put coal into the rearview mirror. However, the COVID-19 pandemic had other plans. Years of capital underinvestment by energy majors due to demand uncertainty during the pandemic opened the door for coal companies to fill the supply gap. The end result has been historically strong pricing power for coal producers.
But Alliance Resource Partners has taken things one step further. The company is using this advantageous per-ton selling price to lock in volume commitments up to four years in advance. As of the company’s second-quarter operating report, it had 96% of the midpoint of its 2024 sales guidance (34 tons) priced and committed this year, as well as 49% for next year. It’s easy to sustain an outsized yield when operating cash flow is highly predictable.
Management also deserves credit for a historically conservative approach to expansion. Rather than digging itself deep into debt like many of its peers, Alliance Resource has slow-stepped its production expansion and been mindful of its borrowing. It closed out the midpoint of 2024 with less than $188 million in net debt, which is a reasonably low figure for a company that generated $755 million in operating cash flow over the trailing-12-month period.
Lastly, Alliance Resource Partners has, in recent years, diversified its operations to include oil and natural gas royalties. If the spot price of these energy commodities climbs, Alliance Resource should benefit from an increase in earnings before interest, taxes, depreciation, and amortization (EBITDA). Years of capital underinvestment tied to COVID-19 have tightened the global supply of oil and provided a lift to its spot price, which is a perfect scenario for Alliance Resource Partners’ royalty segment.
Should you invest $1,000 in Annaly Capital Management right now?
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Sean Williams has positions in Annaly Capital Management and PennantPark Floating Rate Capital. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
3 Superb Ultra-High-Yield Dividend Stocks With Yields North of 10% That Make for No-Brainer Buys Right Now was originally published by The Motley Fool
3M Earnings Preview: Can The Industrial Giant Beat Expectations Again?
3M Company MMM is set to report its third-quarter financial results before Tuesday’s opening bell. Here’s a look at what to expect.
The Details: 3M shares have gained more than 40% in 2024, though the rally has stalled heading into Tuesday’s earnings release. Analysts expect the company to report earnings of $1.90 per share. Notably, the company has beat earnings estimates for the last six consecutive quarters.
Revenue is estimated to come in 26.6% lower compared to the same quarter of 2023 due in large part to the spin-off of 3M’s Health Care business, completed in April 2024. However, 3M’s third-quarter performance is likely to have benefited from strength across end markets, inventory normalization and cost-saving initiatives.
Read Next: Nuclear Energy Stocks Are Hot: Here’s A List Of Tickers To Watch
What Else: 3M’s new CEO Bill Brown is recalling managers to the office three days per week, according to a report from Bloomberg. The company will expect employees at the director level and above to come into an office Tuesday through Thursday, which the company has named as “collaboration days.”
The move is a reversal of the company’s “Work Your Way” policy which had allowed desk-based employees to work remotely since 2020. Brown has said that his priority is “reinvigorating the 3M innovation machine” and bringing employees back to the office may be an effort to increase productivity as the company attempts a turn-around.
Price Action: According to Benzinga Pro, 3M shares are up % at $ at the time of publication Monday.
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SAP Stock Climbs After Mixed Q3 Results: EPS Beat, Revenues Miss
SAP SE SAP shares are trading higher after the company reported its third-quarter financial results after Monday’s closing bell. Here’s a look at the details from the report.
The Details: SAP reported adjusted earnings of $1.33 per share, beating the consensus estimate of $1.32. Quarterly revenue came in at $9.16 billion, slightly below the consensus estimate of $9.17 billion.
- SAP reported a current cloud backlog of $16.66 billion, up 25% and up 29% at constant currencies.
- Cloud revenue was up 25% and up 27% at constant currencies.
- Cloud ERP Suite revenue was up 34% and up 36% at constant currencies.
- IFRS cloud gross profit was up 26%, non-IFRS cloud gross profit grew 27% and up 28% at constant currencies.
- IFRS operating profit grew 29%, non-IFRS operating profit was up 27% and up 28% at constant currencies.
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“Q3 was another strong quarter for SAP, and we are confidently raising our 2024 financial outlook. Cloud revenue growth developed remarkably well in the quarter, especially for our Cloud ERP Suite. Even more importantly, we are making strong progress on Business AI with groundbreaking innovations such as SAP Knowledge Graph. A significant part of our cloud deals in Q3 included AI use cases,” said Christian Klein, CEO of SAP.
Outlook: SAP raised its fiscal 2024 outlook for cloud and software revenue, operating profit and free cash flow.
SAP Price Action: According to Benzinga Pro, SAP shares are up 3.95% after-hours at $238.55 at the time of publication Monday.
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Lockheed Martin lifts profit, sales forecasts on strong weapons demand
By Pratyush Thakur and Mike Stone
(Reuters) -Defense contractor Lockheed Martin (LMT) on Tuesday joined rival RTX in lifting annual profit and sales forecasts, driven by strong demand for military equipment amid escalating global tensions.
The Bethesda, Maryland-based company now expects per-share profit of $26.65 for 2024, above its earlier forecast of $26.10 to $26.60.
It also sees full-year sales of $71.25 billion, slightly above the midpoint of its earlier forecast of $70.50 billion to $71.50 billion.
Conflicts in the Middle East and the protracted Russia-Ukraine war have resulted in nations boosting their defense spending, which has benefited arms manufacturers.
However, Lockheed’s flagship F-35 program is facing challenges, particularly due to delays in rolling out an upgrade intended to enhance the fighter jet’s processing capabilities.
The US military, which had stopped accepting deliveries due to the delay, resumed deliveries earlier this year with a truncated upgrade, but is withholding the final $5 million payment for each jet until the completion of the upgrade.
In the absence of reimbursements, Lockheed is forced to pay for the parts of the F-35 jets to be delivered in 2026 and 2027, diminishing returns for the company’s investors.
“Had the program been fully funded over this period of time in the third quarter, we would have had sales closer to about 5% growth.” Lockheed CFO Jay Malave told Reuters in an interview.
The business that makes the F-35 jet posted a 3% decline in sales in the third quarter. Lockheed’s overall revenue of $17.10 billion missed analysts’ estimates of $17.35 billion, according to LSEG data.
However, Lockheed’s per-share profit stood at $6.80, beating expectations of $6.50.
(Reporting by Pratyush Thakur in Bengaluru; Editing by Shinjini Ganguli)