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Diversified Healthcare Trust Announces Fourth Quarter 2022 Results
SHOP Segment Occupancy Improves 380 Basis Points Year Over Year to 76.3% SHOP Segment Revenues Increase 14.2% Year Over Year Net Loss Attributable to Common
About this update from Diversified Healthcare Trust
[{"type":"text","content":"\nSHOP Segment Occupancy Improves 380 Basis Points Year Over Year to 76.3%\n\nSHOP Segment Revenues Increase 14.2% Year Over Year\n\nNet Loss Attributable to Common Shareholders of $0.27 Per Share\n\nNormalized FFO Attributable to Common Shareholders of $0.03 Per Share\n\n NEWTON, Mass.--(BUSINESS WIRE)--\nDiversified Healthcare Trust (Nasdaq: DHC) today announced its financial results for the quarter ended December 31, 2022.\n\nJennifer Francis, President and Chief Executive Officer of DHC, made the following statement:\n\n\"Fourth quarter results reflected strong year over year improvement in our SHOP segment. Occupancy increased 380 basis points and average monthly rates increased nearly 9% from the prior year, resulting in a 14.2% increase in revenues. These factors contributed to fourth quarter normalized FFO of $0.03 per share.\n\nIn February, we announced an amendment to our credit facility. The amendment provides covenant relief as we invest capital in our properties and work with our operators to continue improving our SHOP segment performance.\"\n\nQuarterly Results:\n\n\nReported net loss attributable to common shareholders of $65.3 million, or $0.27 per share.\n\n\nReported normalized funds from operations, or Normalized FFO, attributable to common shareholders of $8.1 million, or $0.03 per share.\n\n\n\n\n \n\n\n\n \n\n\n\nAs of and For the Three Months Ended\n\n\n\n\n\n \n\n\n\n \n\n\n\nDecember 31, 2022\n\n\n\n \n\n\n\nSeptember 30, 2022\n\n\n\n \n\n\n\nDecember 31, 2021\n\n\n\n\n\nOccupancy\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nOffice Portfolio (period end)\n\n\n\n \n\n\n\n84.7%\n\n\n\n \n\n\n\n85.9%\n\n\n\n \n\n\n\n91.3%\n\n\n\n\n\nSHOP (average day for period)\n\n\n\n \n\n\n\n76.3%\n\n\n\n \n\n\n\n74.7%\n\n\n\n \n\n\n\n72.5%\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nSame Property Occupancy\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nOffice Portfolio (period end)\n\n\n\n \n\n\n\n90.0%\n\n\n\n \n\n\n\n90.2%\n\n\n\n \n\n\n\n92.3%\n\n\n\n\n\nSHOP (average day for period)\n\n\n\n \n\n\n\n76.7%\n\n\n\n \n\n\n\n74.9%\n\n\n\n \n\n\n\n72.9%\n\n\n\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended\n\n\n\n\n\n \n\n\n\n \n\n\n\nDecember 31,\n2022\n\n\n\n \n\n\n\nSeptember 30,\n2022\n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\nDecember 31,\n2021\n\n\n\n ...