Diversified Healthcare Trust reports Q4 normalized FFO 2c vs. 3c last year

Year-over-year Q4 SHOP occupancy increased 70 basis points to 80.0% and average monthly rates increased by 6.7%, resulting in a 7.3% increase in SHOP revenues. Consolidated SHOP NOI increased 56.0% year over year to $24.9M, including a margin increase of 250 basis points. “DHC ended the fourth quarter by reaching 80% SHOP occupancy for the first time since the first quarter of 2020. On a year-over-year basis, DHC achieved a 56% improvement in SHOP NOI, a 7.3% increase in SHOP revenues and a 6.7% improvement in average monthly rate, resulting in margin expansion of 250 basis points. We are pleased with the results achieved and remain bullish on the outlook within the sector and our SHOP portfolio going into 2025,” said CEO Christopher Bilotto.