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Diversified Healthcare Trust (DHC) is a prominent real estate investment trust (REIT) that specializes in healthcare-related properties across the United States. The company focuses on acquiring, owning, and managing a diverse portfolio of life science estates, medical offices, and senior living communities. By investing in properties that facilitate medical services and technologies, DHC has established itself as a key player in the healthcare real estate sector.
The company operates through two main segments: the Office Portfolio and SHOP. The Office Portfolio comprises medical office properties leased to medical-related businesses and life sciences properties. These facilities play a crucial role in advancing healthcare and medical research, making DHC's investments vital to the sector's growth. The SHOP segment, on the other hand, manages communities that offer a range of residential care options, including independent living, assisted living, and nursing services. This segment is essential for providing quality care to seniors, enhancing their quality of life through well-maintained living environments and comprehensive healthcare services.
Diversified Healthcare Trust has a strong presence across the United States, generating the majority of its revenue from rents and medical programs. The company continually seeks to expand its portfolio through strategic acquisitions and developments, ensuring that its properties meet the evolving needs of the healthcare industry.
Recent achievements and ongoing projects highlight DHC's commitment to innovation and excellence in healthcare real estate. By partnering with leading medical institutions and technology providers, the company is at the forefront of delivering state-of-the-art facilities that support advanced medical care and research.
Five Star Senior Living (FVE) reported a significant increase in occupancy rates across its owned and managed communities for August, with owned communities reaching 73.7%, a 320 basis point rise from July. The transition of smaller communities to new operators is underway, with 62 of 108 transitions completed. All employees are now compliant with COVID-19 vaccination requirements. This progress aligns with their strategic plan focusing on larger, higher-performing communities, enhancing their rehabilitation and wellness services.
Diversified Healthcare Trust (Nasdaq: DHC) has entered a management agreement with Cedarhurst Senior Living for eight healthcare communities in Illinois, comprising 486 units. This agreement represents approximately 78% of the total transitioning communities, as DHC shifts management from Five Star Senior Living (Nasdaq: FVE). The company anticipates completing the transition of all 108 communities by the end of the year. DHC's portfolio, valued at $8.2 billion, consists of 392 properties across 36 states.
Diversified Healthcare Trust (DHC) reported its financial results for Q2 2021, revealing a normalized FFO per share of $0.05 and an adjusted EBITDAre of $87.8 million, marking improvements from Q1 2021. The company continued transitioning 108 senior living communities from Five Star Senior Living to new management, with 70% of the transitions already executed. DHC's Office Portfolio segment saw record leasing activity, completing 632,000 square feet of leases at 5.9% higher GAAP rents. However, the company reported a net loss of $34.2 million for the quarter, primarily impacted by COVID-19.
Diversified Healthcare Trust (Nasdaq: DHC) has entered a management agreement with Stellar Senior Living for nine skilled nursing and one continuing care retirement community across Colorado, Texas, and Wyoming, totaling 1,152 units. This marks a significant shift as DHC transitions approximately 70% of its Senior Housing Operating Portfolio from Five Star Senior Living. Additionally, DHC plans to close 1,500 skilled nursing units to enhance resident experiences and has begun selling 10 skilled nursing bed licenses, part of a broader plan to divest 542 licenses in compliant states.
Diversified Healthcare Trust (Nasdaq: DHC) has announced three new management agreements covering 66 communities with 4,084 units in its Senior Housing Operating Portfolio. Operators include Charter Senior Living, Oaks-CaraVita Senior Care, and Phoenix Senior Living, transitioning approximately 61% of DHC's SHOP communities from Five Star Senior Living. These agreements, typically five years, aim to align interests and incentivize performance for a faster recovery post-COVID-19. As of March 31, 2021, DHC's portfolio comprises $8.2 billion in assets across 396 properties.
Diversified Healthcare Trust (Nasdaq: DHC) announced a quarterly cash distribution of $0.01 per common share, equating to $0.04 per year. This dividend will be paid to shareholders on record as of July 26, 2021, with payment expected around August 19, 2021. DHC's portfolio includes $8.2 billion in assets, comprising 396 properties across the U.S., with over 600 tenants and approximately 11.2 million square feet of healthcare facilities.
Diversified Healthcare Trust (Nasdaq: DHC) will release its second quarter 2021 financial results on August 4, 2021, after market close. A conference call hosted by CEO Jennifer Francis and CFO Richard Siedel is scheduled for August 5, 2021, at 10:00 a.m. ET. Participants can join the call by dialing (877) 329-4297 or (412) 317-5435 for international callers. A live audio webcast will also be available on the company’s website. DHC, a real estate investment trust, owns a diversified portfolio of healthcare properties valued at $8.2 billion, encompassing over 396 properties across 36 states.
Diversified Healthcare Trust (Nasdaq: DHC) announced the results of its 2021 Annual Meeting of Shareholders. Key outcomes include the appointment of Jennifer F. Francis as President and CEO, following her role as President and COO since 2018. Lisa Harris Jones was elected as an Independent Trustee with 71.1% of votes, while Francis received 87.1% as Managing Trustee. Shareholder approval for executive compensation was 89.9%, and Deloitte & Touche LLP was ratified as independent auditors with 99.3% support. DHC’s portfolio comprises 396 properties across 36 states, valued at $8.2 billion.
Diversified Healthcare Trust (Nasdaq: DHC) will present at Nareit’s REITweek: 2021 Virtual Investor Conference on June 8, 2021, at 3:45 p.m. Eastern Time. The presentation will feature President and COO Jennifer Francis and CFO Richard Siedel. Interested participants can register for the conference online. DHC, a real estate investment trust focusing on healthcare properties, has a portfolio valued at $8.2 billion, encompassing 396 properties across 36 states, with over 29,000 senior living units and 11.2 million square feet of life science and medical office properties.
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