Q4 2025 Diversified Healthcare Trust Earnings Call Transcript

Feb 24, 2026 / 03:00 PM GMT

Release Date Price: $6.1 (-0.81%)

Transcript 10-K8-K

Key Points

Positve

Diversified Healthcare Trust (DHC) reported a strong fourth quarter with total revenue of $379.6 million and adjusted EBITDA of $72.4 million.
The company completed over $1.4 billion in capital markets activity, including financing, asset sales, and establishing a $150 million undrawn credit facility.
DHC achieved a full-year consolidated NOI growth of 31.3% and reduced leverage by over three terms with no debt maturities until 2028.
The senior housing portfolio saw a 90 basis point increase in same property occupancy and a 5.8% increase in average monthly rates.
DHC's medical office and life science portfolio saw a 460 basis point increase in consolidated occupancy and a 7.9% increase in weighted average rents for new leases.

Negative

The transition of 116 shop communities to new operators caused some operational noise during the quarter.
DHC's medical office and life science segment is expected to see a decline in NOI due to the sale of 31 properties.
The company has a significant portion of leases expiring in 2026, which could impact future revenue if not renewed.
Despite strong performance, there are no immediate plans to address dividend increases.
The company is still trailing benchmarks in occupancy and margins, indicating room for improvement.

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

DHC.OQ - Diversified Healthcare Trust
Q4 2025 Diversified Healthcare Trust Earnings Call
Feb 24, 2026 / 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 4th quarter 2025 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the key, followed by 0.

After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then 1 on a touchtone phone. To withdraw your question, please press. Then 2, please note this event is being recorded.

I would now like to turn the call over to Matt Murphy, manager of investor relations. Please go ahead.

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Unidentified_2 [2]

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