Chiron Real Estate posts Q2 net income
XRN•Quarterly results
- US healthcare REIT's Q2 net income rose sharply from a loss a year earlier.
- Core FFO and FFO per share both declined year-over-year.
- Q2 rental revenue was $37.06 million and Q2 core FFO was $15.10 million.
Outlook and market view
- The company did not provide specific financial guidance for the current or future periods in the press release.
- The current average analyst rating on the shares is buy, with 4 strong buy or buy ratings, 6 hold ratings and no sell or strong sell ratings.
- Wall Street's median 12-month price target for Chiron Real Estate Inc is $41.00, about 16.7% above its August 4 closing price of $35.12.
Portfolio repositioning
- The company advanced portfolio repositioning with its first seniors housing operating portfolio, or SHOP, acquisitions and legacy asset sales.
- Completed first SHOP acquisitions, adding new resident fee revenue and occupancy gains.
- The sale of seven inpatient rehabilitation facilities generated a substantial gain and capital for reinvestment.
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