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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Diversified Healthcare Trust
Diversified Healthcare Trust (DHC) investor relations material
Diversified Healthcare Trust Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Nov, 2026
Executive summary
Same property cash basis NOI rose 25.6% YoY to $77.9M; Adjusted EBITDAre increased 28.4% to $73.4M, and Normalized FFO reached $0.13/share versus $0.02.
Q3 revenue declined 5.4% YoY to $367.7M, while net loss narrowed to $50.2M from $164.0M.
SHOP occupancy and rates improved; medical office and life science leasing achieved rents 25.2% above prior rents.
Financial highlights
Consolidated NOI rose 27.5% YoY to $80.8M; Q3 Normalized FFO was $30.7M, or $0.13/share, versus $4.0M, or $0.02/share.
Same property cash basis NOI increased 25.6% to $77.9M; CAD was $6.8M, or $0.03/share.
Property operating expenses fell 11.8% to $286.9M; impairment charges were $14.5M versus $93.2M, and interest expense declined 24.0% to $37.2M.
Nine-month operating cash flow was $74.1M versus $0.5M; cash and restricted cash ended the period at $130.9M.
Outlook and guidance
FY2026 guidance: same property NOI $312M–$328M; Adjusted EBITDAre $275.7M–$290.7M; Normalized FFO $110.7M–$125.7M, or $0.46–$0.52/share.
SHOP same property NOI guidance rose $5M at midpoint to $190M–$200M; occupancy growth assumption remains 200 bps.
Recurring CapEx guidance is $90M–$105M, down $10M at midpoint; management expects SHOP CapEx per unit to decline modestly in 2027–28.
2027 growth drivers include a full year of Ensign rent, ~ $2M annual savings from new SHOP management agreements, conversion projects and occupancy/rate improvement.
Redevelopment construction starts are expected in 2027, with some unit deliveries in H2; available funding is expected to cover obligations for at least 12 months, though projects may be deferred to preserve liquidity.
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Latest events from Diversified Healthcare Trust
- Q2 2026 saw strong SHOP growth, higher NOI, improved margins, and reaffirmed guidance.DHC
Q2 2026 - Operational improvements and internal growth drive optimism for further upside.DHCNareit REITweek: 2026 Investor Conference
- Raised 2026 guidance and strong SHOP growth drive sector-leading returns and balance sheet gains.DHCInvestor presentation
- Record shareholder returns and robust SHOP growth driven by strategic asset management.DHCInvestor presentation
- Q1 2026 net loss was $43.3M as SHOP NOI rose and 2026 guidance was reaffirmed.DHCQ1 2026
- Updated sustainability metrics and climate risk strategies underscore ongoing ESG leadership.DHCProxy filing
- Proxy covers trustee elections, say-on-pay, auditor ratification, and robust ESG and governance practices.DHCProxy filing
- Trustee elections, executive pay, and auditor ratification headline the June 2026 meeting.DHCProxy filing
- SHOP segment NOI up 32.6% year-over-year, but net loss widens as asset sales and deleveraging continue.DHCQ3 2024
Next Diversified Healthcare Trust earnings date
Q4 202624 Feb, 2027
Diversified Healthcare Trust
Next Diversified Healthcare Trust earnings date
Q4 202624 Feb, 2027
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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.