Senior Housing Properties Trust (SNH) Reports Q2 EPS of $0.52

Senior Housing Properties Trust (NASDAQ: SNH) reported Q2 EPS of $0.52, versus $0.14 reported last year. Revenue for the quarter came in at $277.25 million versus the consensus estimate of $277.91 million.

Jennifer Francis, President and Chief Operating Officer, made the following statement regarding the second quarter ended June 30, 2018 results:

“Generally, our overall portfolio, which consists of a diversified mix of high quality healthcare properties, continued to perform well during the quarter, with consolidated same property Cash Basis NOI increasing 0.9%. Each of our different healthcare property segments experienced solid same property Cash Basis NOI growth during the quarter, except for our managed senior living segment, which saw a decline primarily because of higher operating expenses.”

“We also continue to experience headwinds in our senior living properties from the recent overbuilding in the industry, which has led to occupancy pressure and increasing operating expenses. To help address this issue, we are focused on recycling capital from dispositions into life science and medical office properties. During the quarter, life science properties and medical office properties represented approximately 23% and 21%, respectively, of our consolidated NOI, and we hope to grow both these healthcare property portfolios in the future.”

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

You May Also Be Interested In

• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance
• Cineverse Corp (CNVS) Misses Q1 EPS by 20c; Offers Guidance
• LogicBio Therapeutics (LOGC) Misses Q2 EPS by 10c