Diversified Healthcare Trust Q3 net loss narrows amid occupancy growth
DHC•Diversified Healthcare Trust reported a third-quarter net loss of $50.2 million, compared with $164 million a year earlier, and a loss per share of $0.21 versus $0.68. It lowered full-year 2026 normalized FFO and adjusted EBITDAre guidance, while raising same-property SHOP NOI guidance.
1. Quarterly results
Diversified Healthcare Trust reported a third-quarter net loss of $50.2 million, compared with a loss of $164 million a year earlier. Loss per share was $0.21, versus $0.68 in the prior-year quarter.
2. Updated outlook
The company lowered its 2026 normalized FFO guidance to $110.7 million-$125.7 million from $135 million-$150 million and adjusted EBITDAre guidance to $275.7 million-$290.7 million from $300 million-$315 million. It raised same-property SHOP NOI guidance to $190 million-$200 million from $185 million-$195 million.
3. Operating drivers
Third-quarter same-property SHOP NOI rose 50.4% year over year, with occupancy up 200 basis points and average monthly rates up 5.2%. The company leased 130,000 square feet of medical office space at rents 25.2% above prior levels, with a 9.7-year weighted average lease term. SHOP NOI fell quarter over quarter as one-time expense benefits from the second quarter lapsed and seasonal utility costs increased.
