Quarterly Results

Quarter

1Q 2021

First Quarter 2021 Highlights
  • Net income of $0.27 per share, NAREIT FFO of $0.07 per share, FFO as Adjusted of $0.40 per share and blended Total Same-Store Portfolio Cash (Adjusted) NOI growth of 4.3%
  • From our February 9, 2021 earnings release through April 30, 2021, closed on an additional $1 billion of senior housing sales including 31 SHOP assets at a blended 2.6% annualized trailing 3-month cap rate
    • $564 million sale of a 12-property SHOP portfolio, totaling 1,043 units, operated by Oakmont Senior Living
    • $334 million sale of a 10-property SHOP portfolio, totaling 1,428 units, operated by Discovery Senior Living and the sale of 2 loans and 2 preferred equity investments generating additional proceeds of $21 million
    • Through 5 separate transactions, sale of 9 SHOP properties totaling 879 units generating total proceeds of $114 million. The operators of the SHOP properties include Sonata (5), Milestone, Sunrise Senior Living, Capital Senior Living and Brookdale Senior Living.
  • Acquisitions:
    • Acquired a 14-property medical office portfolio with 833,000 square feet for $371 million, an approximately 80,000 square foot on-campus medical office building in Denver, Colorado for $38 million and a 48,000 square foot on-campus medical office building in Nashville, Tennessee for $13 million
    • Closed on the first phase of the previously announced acquisition of 12 acres of land in South San Francisco, California for $61 million
  • Development:
    • Completed 75 Hayden, a 100% leased, 214,000 square foot life science development in Lexington, Massachusetts
    • Announced commencement of Nexus on Grand development in South San Francisco, California and densification of Callan Ridge in Torrey Pines, California
  • Balance sheet:
    • Completed the previously announced repayment of $1.45 billion senior unsecured notes due in 2023 and 2024 and announced the tender of up to $550 million of additional senior unsecured notes due in 2025
  • The Board of Directors declared a quarterly common stock cash dividend of $0.30 per share to be paid on May 21, 2021, to stockholders of record as of the close of business on May 10, 2021
  • Named to the Bloomberg Gender-Equality Index for the second consecutive year and named a Women’s Forum of New York Corporate Champion for the third time
Most recent earnings call