Senior Housing Properties Trust Slips To Loss In Q4

(RTTNews) - Senior Housing Properties Trust (SNH) reported that its fourth-quarter net loss attributable to common shareholders was $118.5 million or $0.50 per share, compared to net income of $65.0 million, or $0.27 per share, for the quarter ended December 31, 2017.

The net loss attributable to common shareholders was primarily the result of: (1) unrealized losses on equity securities of $106.4 million, or $0.45 per share, which are included in earnings in accordance with new U.S. generally accepted accounting principles, or GAAP, standards effective January 1, 2018;impairment charges of $61.3 million, or $0.26 per share, recognized during the quarter ended December 31, 2018; (3) dispositions since October 1, 2017; and an increase in interest expense as a result of higher interest rates on SNH's debt.

Normalized funds from operations attributable to common shareholders was $65.1 million or $0.27 per share, compared to $59.2 million or $0.25 per share in the prior year.

Total revenues for the quarter grew to $285.22 million from $278.54 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share and revenues of $287.74 million. Analysts' estimates typically exclude special items.