Emeritus Senior Living Shares Drop

Shares of Emeritus fell 15 percent today. The shares dropped from $1.56 to $8.82, their lowest level in four years. Emeritus is a nationwide provider of assisted senior housing also reported a third-quarter loss of $23.1 million.

The Seattle company, one of the largest in its field, wasn’t the only senior housing company battered by the market. Leading competitors Sunrise Senior Living and Brookdale Senior Living fell 21 percent and 18 percent, respectively.

Emeritus’ third-quarter revenue of $193 million was up from $187 million in the second quarter, while its net loss shrank from the second-quarter loss of $25.2 million.

Tags: emeritus, senior, Senior Housing, Senior Living