Senior Housing Properties Trust (SNH) Tops Q4 EPS by 2c; FFO $0.50/Share

Senior Housing Properties Trust (NASDAQ: SNH) reported Q4 EPS of $0.18, $0.02 better than the analyst estimate of $0.16. FFO was $0.50.

Net income was $42.9 million, or $0.18 per diluted share, for the quarter ended December 31, 2016, compared to $9.5 million, or $0.04 per diluted share, for the quarter ended December 31, 2015, which represents an increase of $0.14 per diluted share. This increase in net income is primarily attributable to a non-cash loss on the distribution of The RMR Group Inc. (Nasdaq: RMR) common stock to SNH’s shareholders of $38.4 million, or $0.16 per diluted share, that SNH recognized in December 2015. This was partially offset by an increase in interest expense of approximately $5.7 million, or $0.02 per diluted share, for the three months ended December 31, 2016 compared to December 31, 2015.

Normalized funds from operations, or Normalized FFO, were $118.6 million, or $0.50 per diluted share, for the quarter ended December 31, 2016, compared to $120.6 million, or $0.51 per diluted share, for the quarter ended December 31, 2015, which represents a decrease of $0.01 per diluted share. This decrease in Normalized FFO is primarily attributable to increased interest expense of $0.02 per diluted share.

For earnings history and earnings-related data on Senior Housing Properties Trust (SNH) click here.

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