Diversified Healthcare Trust Provides Monthly SHOP Performance Update; July 2023 Occupancy Was 79.0%, 750 Basis Points Below July 2019, And 30 Basis Points Above June 2023; SHOP Recovery Continues At An Uneven Pace
Portfolio Pulse from Happy Mohamed
Diversified Healthcare Trust (DHC) has provided an update on its Senior Housing Operating Portfolio (SHOP) segment, revealing a July 2023 occupancy of 79.0%, 750 basis points below July 2019, but 30 basis points above June 2023. The company's President and CEO, Jennifer Francis, stated that the outlook for SHOP for the second half of the year remains uncertain due to expected higher expenses. She reiterated that the previously announced merger with Office Properties Income Trust is the best path forward for DHC.
August 24, 2023 | 8:30 pm
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DHC's SHOP segment's performance is below 2019 levels and the outlook remains uncertain due to expected higher expenses. The company believes its merger with Office Properties Income Trust is the best path forward.
The company's SHOP segment is performing below 2019 levels, and the outlook for the second half of the year is uncertain due to expected higher expenses. This could negatively impact the company's financial results in the short term. However, the company believes that its merger with Office Properties Income Trust could help improve its performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100