Q3 2025 Diversified Healthcare Trust Earnings Call Transcript

Nov 4, 2025 / 03:00 PM GMT

Release Date Price: $4.21 (-4.86%)

Transcript 10-Q8-K

Key Points

Positve

Total revenue for the quarter increased by 4% year over year to $388.7 million.
Shop occupancy increased by 210 basis points year over year to 81.5%, marking the fourth consecutive quarter of occupancy growth.
The company completed approximately 86,000 square feet of leasing at weighted average rents of 9% above prior rents for the same space.
DHC has no debt maturities until 2028 after recent refinancing activities.
The transition to new operators is expected to result in occupancy rates and NOI margins more consistent with industry averages.

Negative

Temporary decline in NOI due to elevated labor costs during the transition of 116 communities to new operators.
Compensation expense as a percent of revenue was approximately 240 basis points above the portfolio average for prior periods.
Sequential decline in shop NOI primarily due to higher seasonal utility costs and temporary labor costs related to community transitions.
Net debt to adjusted EBITDA was 10 times, reflecting temporary compensation expense increases.
The transition of communities presents a temporary increase in costs, impacting short-term financial performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DHC.OQ - Diversified Healthcare Trust
Q3 2025 Diversified Healthcare Trust Earnings Call
Nov 04, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the diversified Healthcare Trust. Third quarter 2025 earnings conference conference call. All participant will be in listen.

Should you need assistance, please signal a conference specialist by pressing the star key followed by 0.

After today's presentation, there will be an opportunity to ask questions. You ask a question, you may press 1 on your telephone keypad. To withdraw your question, please press 2. Please note this event is being recorded. I would now like to turn the conference over to Matt Murphy, manager of investor relations. Please go ahead.

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Unidentified_2 [2]
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