Diversified Healthcare Trust reported a net loss attributable to common shareholders of $67.5 million, or $0.28 per share, and normalized FFO attributable to common shareholders of $5.8 million, or $0.02 per share for the quarter ended March 31, 2021. The company is transitioning 108 senior living communities to new operators to improve profitability and has amended its credit agreement and issued senior notes to provide liquidity.
COVID-19 vaccination clinics at managed senior living communities are complete, with over 96% of residents vaccinated.
Occupancy began to stabilize in February and March following the successful vaccine rollout.
Transitioning 108 senior living communities to new operators to improve profitability.
Office Portfolio segment continues to perform well with same property NOI growth.
Diversified Healthcare Trust is working on transitioning 108 senior living communities to new operators to improve profitability. The company's office portfolio continues to perform well, and recent credit agreement amendments and senior notes issuance will provide the necessary liquidity to execute its business plan.
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