Senior housing REITs that got hammered during the pandemic are beginning to see the light at the end of the tunnel, as occupancy rates at nursing homes and assisted-living facilities ticked up in Q4 2021.

The Q4 senior housing occupancy rate was 81 percent, an improvement over the surge in vacancies during the pandemic, but still 6.4 percent below pre-pandemic levels. Occupancy rates for assisted-living facilities also increased in Q4 to 78 percent.

The senior housing and assisted-living occupancy rates have been incrementally improving by about 1 percent per quarter, with industry analysts expecting this pace to continue throughout 2022.

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