Skip to main content

American Retirement Guides Up

The company's shares gain more than 7%.
  • Author:
  • Publish date:

American Retirement

(ACR) - Get Free Report

, a Brentwood, Tenn., operator of senior-living communities, raised its 2006 guidance, lifting its shares Thursday.

The company said it expects to earn 69 cents to 72 cents a share this year, after an estimated per-share cost of 12 cents for share-based compensation. American had previously forecast 65 cents to 67 cents a share in earnings.

American Retirement is scheduled to release its first-quarter results on May 4.

Also, the company said it agreed to acquire the lessee's interest in a Denver community that American currently manages. Upon closing the purchase, the property will convert from a managed community to a leased community, and its operating results will be included in American's consolidated financial statements.

Shares of American gained $1.80, or 7.7%, to $25.21 in recent trading.