Chartwell expects to achieve full-year average occupancy target of 95%
Company anticipates continued strong leasing activity supported by industry supply and demand fundamentals
Overview
Canada seniors housing operator's Q2 property revenue rose 19.5% yr/yr
Q2 funds from operations per unit grew 16.7% yr/yr
Net loss for Q2 narrowed from prior year due to higher revenue and impairment reversal
Result drivers
Occupancy gains - Higher weighted average occupancy rates contributed to increased revenue and net operating income
Higher resident revenue - Increased resident revenue per occupied suite supported growth in property revenue and operating income
Portfolio optimization - Acquisitions, developments, and sale of non-core assets strengthened presence in key markets and supported income growth
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
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