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Dec 31, 2020
Diversified Heal Q4 2020 Earnings Report
Announced fourth quarter results with a net loss attributable to common shareholders of $0.07 per share and normalized FFO attributable to common shareholders of $0.09 per share.
Key Takeaways
Diversified Healthcare Trust reported a net loss attributable to common shareholders of $0.07 per share for the fourth quarter of 2020. The company's office segment reported strong rent collections, while the senior living industry showed early signs of recovery with the commencement of vaccine distribution.
Net loss attributable to common shareholders was $0.07 per share.
Normalized FFO attributable to common shareholders was $0.09 per share.
Office segment reported 99% rent collections.
Over 23,500 residents and staff in SHOP communities have been vaccinated as of February 20, 2021.
Revenue by Segment
Forward Guidance
The company expects the senior living industry to continue its recovery as vaccine distribution progresses. However, the pace of recovery and the impact of the COVID-19 pandemic remain uncertain.
Positive Outlook
- Vaccine distribution underway in senior living communities.
- High rent collections in the office segment.
- Amended credit facility to secure waivers of financial covenants.
- Completed senior notes offering to address maturities.
- High percentage of communities accepting new residents.
Challenges Ahead
- Continued impact of COVID-19 pandemic on tenants and operators.
- Uncertainty regarding the pace and extent of senior living industry recovery.
- Potential negative impact on tenants' ability to pay rents.
- Restrictions on distributions, debt incurrence, and property acquisitions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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