ALR - ALR STOCK NEWS

AlerisLife Inc. (Nasdaq: ALR) has appointed Jeff Leer as President and Chief Executive Officer, transitioning from his interim role. He will continue as Chief Financial Officer until a replacement is found. Additionally, the healthcare consulting firm Alvarez & Marsal concluded its operational review, recommending cost cuts, corporate restructuring, and operational changes aimed at improving accountability and increasing occupancy in senior living communities. Further details on these recommendations will be shared during the Q2 financial results call in early August.

AlerisLife Inc. (Nasdaq: ALR) held its 2022 Annual Meeting of Stockholders, where several directors were re-elected. Bruce M. Gans received 81.3% of votes, Michael E. Wagner received 81.5%, and Jennifer B. Clark received 95.7%. Shareholders approved the Second Amended and Restated 2014 Equity Compensation Plan with 79.7% support and ratified Deloitte & Touche LLP as auditors with 99% approval. These results indicate strong shareholder confidence in the company's leadership and governance.

AlerisLife (Nasdaq: ALR) announced that 53 of its communities were recognized by U.S. News and World Report in its inaugural "Best Senior Living" ratings, achieving the highest possible rating. This accolade highlights consumer satisfaction across various factors including community atmosphere, food quality, caregiving, and management. Notably, 46 of these rated communities are owned by Diversified Healthcare Trust (Nasdaq: DHC). The ratings are based on a survey of over 200,000 residents conducted between March 2021 and February 2022.

Diversified Healthcare Trust (Nasdaq: DHC) reported its Q1 2022 financial results, with net income of $240.4 million ($1.01 per share) and normalized FFO of $(21.9) million ($(0.09) per share). The company achieved a $327.5 million gain from a joint venture involving 10 Office Portfolio properties, adding $653 million in cash. Occupancy improved in the SHOP segment, reaching 73.0%. However, the Office Portfolio experienced declining occupancy rates, and DHC's liquidity ratio fell below the 1.5x requirement for incurring new debt. Cash and equivalents totaled approximately $1.5 billion.

AlerisLife Inc. (Nasdaq: ALR) reported a net loss of $9.7 million, or $0.31 per diluted share, for Q1 2022, reversing from a net income of $3.3 million in Q1 2021. EBITDA fell to $(5.5) million, down from $6.8 million the previous year. Adjusted EBITDA was $(5.3) million compared to $6.9 million. However, Revenue per Available Room (RevPAR) showed a positive uptick, increasing 2.7% year-over-year for managed communities and 0.9% for owned communities. The company continues to operate in senior living through its Five Star and Ageility brands.

AlerisLife Inc. (Nasdaq: ALR) has appointed Jeff Leer as Interim President and CEO, effective May 1, 2022, following the resignation of Katie Potter. Leer, previously Executive VP, CFO, and Treasurer since 2019, will maintain his financial responsibilities while leading the company. The Board has also engaged Alvarez & Marsal for a comprehensive operational review, aiming to enhance financial performance. Recommendations are expected by Q2's end, and a search for a permanent CEO will begin post-review.

AlerisLife Inc. (Nasdaq: ALR) will announce its first quarter 2022 financial results after the market closes on May 3, 2022. A conference call led by President and CEO Katie Potter and CFO Jeff Leer is scheduled for May 4, 2022, at 1:00 p.m. ET to discuss these results. Participants can call (877) 329-4332 in the U.S. and Canada or (412) 317-5436 internationally. A live audio webcast will be available on the company's website, and a replay will be accessible until May 11, 2022.

AlerisLife Inc. (Nasdaq: ALR) reported a net loss of $10.7 million for Q4 2021, a downturn from a $2.9 million income in Q4 2020. Average occupancy in owned senior living communities rose by 210 basis points, while managed communities saw a 70 basis point increase. The firm concluded a $95 million term loan post fiscal year-end to boost liquidity. AlerisLife underwent a rebranding from Five Star Senior Living, focusing on expanding lifestyle services. The company ended 2021 with $67 million in unrestricted cash, indicating stability for ongoing strategic transformations.

Diversified Healthcare Trust (Nasdaq: DHC) reported financial results for Q4 2021, highlighting a net income of $365.6 million ($1.54/share) and a gain on property sales of $461.4 million. The company raised over $1 billion from joint ventures and completed the transition of 107 senior living communities to new operators. However, the normalized funds from operations (FFO) were negative at $(16.5) million. DHC maintained strong occupancy rates in its Office Portfolio at 91.3% but faced significant declines in the Same Property Cash Basis NOI for its SHOP segment, down 63.3% year-over-year.