DIVERSIFIED HEALTHCARE TRUST Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Diverified Healthcare Trust filed its Q1 2024 10-Q, detailing financial performance and corporate information.</b>

AI Summary

DIVERSIFIED HEALTHCARE TRUST (DHCNL) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Diverified Healthcare Trust (DHC) filed a 10-Q for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's business address is C/O The RMR Group, Two Newton Pl., 255 Wash. St., Ste. 300, Newton, MA 02458. The company was formerly known as Senior Housing Properties Trust. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking DIVERSIFIED HEALTHCARE TRUST, this filing contains several important signals. This 10-Q filing provides a quarterly update on Diverified Healthcare Trust's financial health and operational status, crucial for investors to assess performance and make informed decisions. The detailed financial statements and disclosures within the 10-Q offer insights into revenue streams, debt levels, and equity structure, which are key indicators for the REIT's stability and future prospects.

Risk Assessment

Risk Level: medium — DIVERSIFIED HEALTHCARE TRUST shows moderate risk based on this filing. The company operates in the real estate investment trust sector, which is subject to market fluctuations and interest rate sensitivity, as indicated by its SIC code 6798 (Real Estate Investment Trusts).

Analyst Insight

Review the detailed financial statements in the 10-Q to understand revenue trends, debt management, and any significant changes in assets or liabilities for Diverified Healthcare Trust.

Revenue Breakdown

Key Numbers

• 20240331 — Period of Report (CONFORMED PERIOD OF REPORT)
• 20240506 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (2024-01-01)
• 2024-03-31 — Quarter End Date (2024-03-31)

Key Players & Entities

• DIVERSIFIED HEALTHCARE TRUST (company) — FILER
• 0001075415 (company) — CENTRAL INDEX KEY
• 6798 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• MD (company) — STATE OF INCORPORATION
• C/O THE RMR GROUP (company) — BUSINESS ADDRESS
• NEWTON (company) — BUSINESS ADDRESS CITY
• MA (company) — BUSINESS ADDRESS STATE
• SENIOR HOUSING PROPERTIES TRUST (company) — FORMER COMPANY

FAQ

Risk Factors

• Real Estate Investment Trusts Market Sensitivity [medium — market]: As a REIT, the company is subject to market conditions and economic factors affecting real estate values and rental income.
• Debt Obligations [medium — financial]: The company has various senior notes and secured/unsecured debt, requiring careful management of interest payments and principal repayment.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-06: Filing Date — Date the 10-Q was officially submitted to the SEC.

Filing Documents

• dhc-20240331.htm (10-Q) — 1338KB
• dhc_033124xexhibitx411.htm (EX-4.11) — 17KB
• dhc_033124xexhibitx416.htm (EX-4.16) — 17KB
• dhc_033124xexhibitx101.htm (EX-10.1) — 4KB
• dhc_033124xexhibitx102.htm (EX-10.2) — 4KB
• dhc_033124xexhibitx103.htm (EX-10.3) — 391KB
• dhc_033124xexhibitx311.htm (EX-31.1) — 11KB
• dhc_033124xexhibitx312.htm (EX-31.2) — 11KB
• dhc_033124xexhibitx321.htm (EX-32.1) — 9KB
• 0001075415-24-000015.txt (&nbsp;) — 6431KB
• dhc-20240331.xsd (EX-101.SCH) — 46KB
• dhc-20240331_cal.xml (EX-101.CAL) — 47KB
• dhc-20240331_def.xml (EX-101.DEF) — 312KB
• dhc-20240331_lab.xml (EX-101.LAB) — 439KB
• dhc-20240331_pre.xml (EX-101.PRE) — 381KB
• dhc-20240331_htm.xml (XML) — 701KB

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets — March 31, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Comprehensive Income (Loss) — Three Months Ended March 3 1 , 202 4 and 20 23 2 Condensed Consolidated Statements of Shareholders' Equity — Three Months Ended March 3 1 , 202 4 and 202 3 3 Condensed Consolidated Statements of Cash Flows — Three Months Ended March 3 1 , 202 4 and 202 3 4 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33 Warning Concerning Forward-Looking Statements 34 36 PART II Other Information 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 6. Exhibits 37

Signatures

Signatures 40 References in this Quarterly Report on Form 10-Q to the Company, we, us or our include Diversified Healthcare Trust and its consolidated subsidiaries unless otherwise expressly stated or the context indicates otherwise. Table of Contents

Financial Information

PART I. Financial Information

Financial Statements

Item 1. Financial Statements. DIVERSIFIED HEALTHCARE TRUST CONDENSED CONSOLIDATED BALANCE SHEETS (dollars in thousands, except share data) (unaudited) March 31, December 31, 2024 2023 Assets Real estate properties: Land $ 641,481 $ 652,977 Buildings and improvements 6,129,767 6,165,490 Total real estate properties, gross 6,771,248 6,818,467 Accumulated depreciation ( 2,062,327 ) ( 2,020,843 ) Total real estate properties, net 4,708,921 4,797,624 Investments in unconsolidated joint ventures 130,299 129,916 Assets of properties held for sale 38,107 9,447 Cash and cash equivalents 207,123 245,939 Restricted cash 1,040 1,022 Equity method investment 15,740 — Acquired real estate leases and other intangible assets, net 31,723 33,948 Other assets, net 215,084 228,240 Total assets $ 5,348,037 $ 5,446,136 Liabilities and Shareholders' Equity Senior secured notes, net $ 751,890 $ 731,211 Senior unsecured notes, net 2,073,757 2,072,618 Secured debt and finance leases, net 12,197 13,020 Liabilities of properties held for sale 218 32 Accrued interest 23,751 22,847 Other liabilities 237,521 269,517 Total liabilities 3,099,334 3,109,245 Commitments and contingencies Shareholders' equity: Common shares of beneficial interest, $ .01 par value: 300,000,000 shares authorized, 240,393,722 and 240,423,898 shares issued and outstanding, respectively 2,404 2,405 Additional paid in capital 4,618,950 4,618,470 Cumulative net income 1,692,019 1,778,278 Cumulative other comprehensive loss ( 4 ) — Cumulative distributions ( 4,064,666 ) ( 4,062,262 ) Total shareholders' equity 2,248,703 2,336,891 Total liabilities and shareholders' equity $ 5,348,037 $ 5,446,136 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 Table of Contents DIVERSIFIED HEALTHCARE TRUST CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (amounts in thousands, except per share data) (unaudited)

View Full Filing

View this 10-Q filing on SEC EDGAR