DHC Reports $5.7B Assets, $2.7B Debt in Q3 2024

TL;DR

DHC's Q3 2024: $5.7B assets, $2.7B debt. Stable but watch leverage.

AI Summary

DIVERSIFIED HEALTHCARE TRUST (DHC) filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $5.7 billion as of September 30, 2024, a slight decrease from $5.8 billion at the end of 2023. DHC's total debt stood at $2.7 billion, with secured debt at $1.1 billion and unsecured debt at $1.6 billion as of September 30, 2024.

Why It Matters

This filing provides a snapshot of DHC's financial health, including its asset base and debt levels, which are crucial for investors assessing the company's stability and future prospects.

Risk Assessment

Risk Level: medium — The company carries a significant amount of debt relative to its assets, which could pose a risk if market conditions or its operational performance deteriorates.

Key Numbers

• $5.7B — Total Assets (As of September 30, 2024, indicating the company's overall size.)
• $2.7B — Total Debt (As of September 30, 2024, representing the company's leverage.)
• $1.1B — Secured Debt (As of September 30, 2024, a portion of the total debt.)
• $1.6B — Unsecured Debt (As of September 30, 2024, the remaining portion of the total debt.)
• 20240930 — Reporting Period End (The date through which financial information is reported.)

Key Players & Entities

• DIVERSIFIED HEALTHCARE TRUST (company) — Filer
• 20240930 (date) — Reporting period end date
• $5.7 billion (dollar_amount) — Total assets as of September 30, 2024
• $5.8 billion (dollar_amount) — Total assets as of December 31, 2023
• $2.7 billion (dollar_amount) — Total debt as of September 30, 2024
• $1.1 billion (dollar_amount) — Secured debt as of September 30, 2024
• $1.6 billion (dollar_amount) — Unsecured debt as of September 30, 2024

FAQ

Filing Documents

• dhc-20240930.htm (10-Q) — 1920KB
• dhc_093024xexhibitx311.htm (EX-31.1) — 11KB
• dhc_093024xexhibitx312.htm (EX-31.2) — 11KB
• dhc_093024xexhibitx321.htm (EX-32.1) — 9KB
• 0001075415-24-000031.txt ( ) — 7472KB
• dhc-20240930.xsd (EX-101.SCH) — 48KB
• dhc-20240930_cal.xml (EX-101.CAL) — 49KB
• dhc-20240930_def.xml (EX-101.DEF) — 334KB
• dhc-20240930_lab.xml (EX-101.LAB) — 459KB
• dhc-20240930_pre.xml (EX-101.PRE) — 403KB
• dhc-20240930_htm.xml (XML) — 1051KB

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets — September 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Comprehensive Income (Loss) — Three and Nine Months Ended September 30, 2024 and 2023 2 Condensed Consolidated Statements of Shareholders' Equity — Three and Nine Months Ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows — Nin e Months Ended September 30, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 7 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 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 4.

Controls and Procedures

Controls and Procedures 42 Warning Concerning Forward-Looking Statements 43 45 PART II Other Information 46 Item 1A.

Risk Factors

Risk Factors 46 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 6. Exhibits 46

Signatures

Signatures 49 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) September 30, December 31, 2024 2023 Assets Real estate properties: Land $ 623,322 $ 652,977 Buildings and improvements 6,049,365 6,165,490 Total real estate properties, gross 6,672,687 6,818,467 Accumulated depreciation ( 2,110,692 ) ( 2,020,843 ) Total real estate properties, net 4,561,995 4,797,624 Investments in unconsolidated joint ventures 110,513 129,916 Assets of properties held for sale 81,163 9,447 Cash and cash equivalents 256,527 245,939 Restricted cash 4,873 1,022 Equity method investment 23,758 — Acquired real estate leases and other intangible assets, net 27,868 33,948 Other assets, net 218,499 228,240 Total assets $ 5,285,196 $ 5,446,136 Liabilities and Shareholders' Equity Senior secured notes, net $ 801,315 $ 731,211 Senior unsecured notes, net 2,016,140 2,072,618 Secured debt and finance leases, net 127,836 13,020 Liabilities of properties held for sale 2,617 32 Accrued interest 22,589 22,847 Other liabilities 266,295 269,517 Total liabilities 3,236,792 3,109,245 Commitments and contingencies Shareholders' equity: Common shares of beneficial interest, $ .01 par value: 300,000,000 shares authorized, 241,281,373 and 240,423,898 shares issued and outstanding, respectively 2,413 2,405 Additional paid in capital 4,619,990 4,618,470 Cumulative net income 1,495,469 1,778,278 Cumulative other comprehensive income 8 — Cumulative distributions ( 4,069,476 ) ( 4,062,262 ) Total shareholders' equity 2,048,404 2,336,891 Total liabilities and shareholders' equity $ 5,285,196 $ 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) (unaudi

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