The following is a summary of the Diversified Healthcare Trust (DHC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Diversified Healthcare Trust posted a first quarter Net Operating Income increase of 9.5% due to robust performance within their Senior Housing Portfolio.

• The quarter's normalized Funds from Operations was $3.5 million, amounting to $0.01 per share, inclusive of a non-cash amortization of $20.7 million or $0.09 per share.

• The total cash at the end of the quarter amounted to $207 million.

• The Senior Housing Portfolio segment saw a year-on-year revenue increase of 10%, backed by a 200 basis point increase in occupancy and a 6.8% hike in total RevPOR.

Business Progress:

• The SHOP segment and favorable conditions in the healthcare industry were highlighted as major drivers of DHC's positive performance.

• The company is placing emphasis on operator transitions, strategic financing, capital deployment, and the refresh projects in 23 SHOP communities.

• The firm ended Q1 with 102 assets in the Medical Office and Life Science portfolio and plans to focus on investing in senior living communities to further fuel the NOI recovery.

• The company intends to issue CMBS debt ranging between $175 to $200 million in Q2 to fund capital investments and manage note repayments.

• The company foresees occupancy growth and potential property sell-offs in the year's second half to maximize proceeds.

More details: Diversified Healthcare Trust IR

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