Logotype for Diversified Healthcare Trust

Diversified Healthcare Trust (DHC) investor relations material

Diversified Healthcare Trust Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Diversified Healthcare Trust
Q2 2025 earnings summary5 Aug, 2025

Executive summary

  • Q2 2025 results exceeded expectations, driven by strong SHOP segment performance, improved occupancy, and successful deleveraging through asset sales and refinancing.

  • Portfolio comprised 341 properties in 34 states and D.C., valued at $6.8B, with over 26,000 senior living units and 7.4M sq. ft. of medical office and life science space.

  • Strategic focus on growing SHOP NOI, selling noncore assets, and refinancing debt at lower rates continues to drive performance and reduce leverage.

  • Management is monitoring economic and market uncertainties, including interest rates, inflation, and labor market conditions.

  • Managed by The RMR Group, overseeing $40B in assets as of June 30, 2025.

Financial highlights

  • Q2 2025 total revenue was $382.7M, up 3% year-over-year; adjusted EBITDAre was $73.6M; normalized FFO increased 172% to $18.6M ($0.08/share).

  • Q2 2025 net loss was $91.6M ($0.38/share), improved from $97.9M in Q2 2024; six-month net loss was $100.6M, improved from $184.1M year-over-year.

  • Same property SHOP NOI grew 18.5% year-over-year to $37.4M; consolidated SHOP NOI up 26.3% to $36.6M.

  • NOI for Q2 2025 was $70.1M, up 4.2% year-over-year; six-month NOI was $142.7M, up 9.3%.

  • Annualized dividend declared per common share was $0.04, with a payout ratio of 16.7% for Normalized FFO.

Outlook and guidance

  • 2025 SHOP NOI guidance increased by $10M at midpoint to $132M–$142M, reflecting strong year-to-date performance.

  • Expense increases anticipated in Q3 and Q4 due to seasonality and more days in the second half.

  • Year-end SHOP occupancy targeted above 82%, with gradual improvement expected.

  • 2025 CapEx guidance reduced by $10M to $140M–$160M, reflecting lower spend and asset dispositions.

  • Management anticipates sufficient liquidity to meet obligations for at least the next 12 months.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Diversified Healthcare Trust earnings date

Logotype for Diversified Healthcare Trust
Q3 20254 Nov, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Diversified Healthcare Trust earnings date

Logotype for Diversified Healthcare Trust
Q3 20254 Nov, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Diversified Healthcare Trust is a real estate investment trust (REIT) that owns and operates a portfolio of healthcare-related properties. The company’s assets include senior living communities, medical office buildings, life science properties, and wellness centers. Diversified Healthcare Trust generates revenue by leasing these properties to healthcare providers, senior living operators, and other tenants. The company is headquartered in Newton, Massachusetts, and its shares are listed on the NASDAQ.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage