Diversified Healthcare Trust's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Diversified Healthcare Trust reported revenue of $1.5B (+2.8% year on year) and net income of ($285.9M) (+22.8% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenues | $1.5B | $1.5B | $1.4B | $1.3B |
| Property operating expenses | $1.3B | $1.2B | $1.2B | $1.1B |
| Depreciation and amortization | $261.9M | $285.0M | $284.1M | $239.3M |
| General and administrative | $45.5M | $26.5M | $26.1M | $26.4M |
| Acquisition and certain other transaction related costs | $10.4M | $2.5M | $10.9M | $2.6M |
| Impairment of assets | $165.7M | $70.7M | $18.4M | $0 |
| Total expenses | $1.7B | $1.6B | $1.5B | $1.4B |
| Gain (loss) on sale of properties | $117.7M | ($18.9M) | $1.2M | $321.9M |
| Gains and losses on equity securities, net | $0 | $0 | $8.1M | ($25.7M) |
| Gain on insurance recoveries | $7.5M | — | — | — |
| Interest and other income | $5.8M | $8.9M | $15.5M | $15.9M |
| Interest expense (including net amortization of debt premiums, discounts and issuance costs of $77,942, $103,437 and $11,811, respectively) | ($204.5M) | ($235.2M) | — | — |
| Loss on modification or early extinguishment of debt | ($42.5M) | ($324.0K) | ($2.5M) | ($30.0M) |
| Loss before income taxes and equity in net earnings (losses) of investees | ($320.9M) | ($371.4M) | ($272.7M) | ($21.1M) |
| Income tax expense | ($1.7M) | ($467.0K) | ($445.0K) | ($710.0K) |
| Equity in net earnings (losses) of investees | $36.8M | $1.6M | ($20.5M) | $6.1M |
| Net loss | ($285.9M) | ($370.3M) | ($293.6M) | ($15.8M) |
| Equity in unrealized gains (losses) of an investee | $17.0K | ($17.0K) | — | — |
| Unrealized loss on derivative | ($12.0K) | — | — | — |
| Other comprehensive loss | $5.0K | ($17.0K) | — | — |
| Comprehensive loss | ($285.9M) | ($370.3M) | — | — |
| Weighted average common shares outstanding (basic) (in shares) | 240.3M | 239.5M | 238.8M | 238.3M |
| Weighted average common shares outstanding (diluted) (in shares) | 240.3M | 239.5M | 238.8M | 238.3M |
| Net loss - basic (in dollars per share) | -$1.19 | -$1.55 | -$1.23 | -$0.07 |
| Net loss - diluted (in dollars per share) | -$1.19 | -$1.55 | -$1.23 | -$0.07 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total residents fees and services | $365.4M | $366.5M | $388.7M | $382.7M |
| Property operating expenses | $280.9M | $290.6M | $325.4M | $312.6M |
| Depreciation and amortization | $62.5M | $62.9M | $65.3M | $66.3M |
| General and administrative | $19.3M | $14.0M | $12.8M | $11.2M |
| Acquisition and certain other transaction related costs | $3.1M | $3.7M | $1.2M | $75.0K |
| Impairment of assets | $0 | $0 | $93.2M | $31.0M |
| Total expenses | $365.9M | $371.2M | $497.9M | $421.1M |
| (Loss) gain on sale of real estate | ($629.0K) | ($1.2M) | — | — |
| Gain on insurance recoveries | $0 | $0 | $0 | $0 |
| Interest and other income | $258.0K | $233.0K | — | $3.0M |
| Interest expense (including net amortization of debt discounts, premiums and issuance costs of $2,309, $19,886, $4,638 and $45,973, respectively) | ($37.1M) | ($37.0M) | ($48.9M) | ($50.9M) |
| Loss on modification or early extinguishment of debt | $0 | $0 | ($11.2M) | ($126.0K) |
| Loss before income taxes and equity in net earnings of investees | ($38.0M) | ($42.7M) | ($168.8M) | ($93.9M) |
| Income tax expense | ($1.3M) | ($622.0K) | ($337.0K) | ($843.0K) |
| Equity in net earnings of investees | $1.9M | $96.0K | $5.1M | $3.1M |
| Net loss | ($37.4M) | ($43.3M) | ($164.0M) | ($91.6M) |
| Equity in unrealized gains of an investee | $0 | $0 | $7.0K | $25.0K |
| Unrealized gain (loss) on derivative | $38.0K | ($81.0K) | ($6.0K) | ($11.0K) |
| Other comprehensive income (loss) | $38.0K | ($81.0K) | $1.0K | $14.0K |
| Comprehensive loss | ($37.4M) | ($43.4M) | ($164.0M) | ($91.6M) |
| Weighted average common shares outstanding - basic (in shares) | 240.7M | 240.7M | 240.4M | 240.1M |
| Weighted average common shares outstanding - diluted (in shares) | 240.7M | 240.7M | 240.4M | 240.1M |
| Net loss per common share - basic (in dollars per share) | -$0.16 | -$0.18 | -$0.68 | -$0.38 |
| Net loss per common share - diluted (in dollars per share) | -$0.16 | -$0.18 | -$0.68 | -$0.38 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Land | $542.4M | $606.0M | $653.0M | $668.9M |
| Buildings and improvements | $5.4B | $5.8B | $6.2B | $6.0B |
| Total real estate properties, gross | $5.9B | $6.4B | $6.8B | $6.7B |
| Accumulated depreciation | ($2.1B) | ($2.1B) | ($2.0B) | ($1.8B) |
| Total real estate properties, net | $3.9B | $4.3B | $4.8B | $4.9B |
| Investments in unconsolidated joint ventures | $120.1M | $126.9M | $129.9M | $155.5M |
| Assets of properties held for sale | $23.1M | $276.3M | $9.4M | $385.0K |
| Cash and cash equivalents | $105.4M | $144.6M | $245.9M | $658.1M |
| Restricted cash | $16.4M | $5.3M | $1.0M | $30.2M |
| Equity method investment | $27.2M | $24.6M | — | — |
| Due from affiliates | $4.0M | $4.1M | $6.1M | $8.7M |
| Acquired real estate leases and other intangible assets, net | $20.7M | $26.3M | $33.9M | $45.4M |
| Other assets, net | $185.5M | $188.6M | $222.2M | $233.8M |
| Total assets | $4.4B | $5.1B | $5.4B | $6.0B |
| Secured revolving credit facility | $0 | — | $0 | $700.0M |
| Senior notes | $1.9B | $2.8B | $2.8B | $2.3B |
| Secured debt and finance leases, net | $455.1M | $126.6M | $13.0M | $30.2M |
| Liabilities of properties held for sale | $3.4M | $6.0M | $32.0K | — |
| Accrued interest | $30.7M | $23.1M | $22.8M | $29.4M |
| Due to affiliates | $22.7M | $9.0M | $7.1M | $5.2M |
| Other liabilities | $238.1M | $229.2M | $262.5M | $281.0M |
| Total liabilities | $2.7B | $3.2B | $3.1B | $3.4B |
| Common shares of beneficial interest, $.01 par value: 300,000,000 shares authorized, 242,121,025 and 241,271,703 shares issued and outstanding, respectively | 2.4M | 2.4M | 2.4M | 2.4M |
| Additional paid in capital | $4.6B | $4.6B | $4.6B | $4.6B |
| Cumulative net income | $1.1B | $1.4B | $1.8B | $2.1B |
| Cumulative other comprehensive loss | ($12.0K) | ($17.0K) | — | — |
| Cumulative distributions | ($4.1B) | ($4.1B) | ($4.1B) | ($4.1B) |
| Total shareholders' equity | $1.7B | $2.0B | — | $2.6B |
| Total liabilities and shareholders' equity | $4.4B | $5.1B | $5.4B | $6.0B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Land | $557.9M | $542.6M | $542.4M | $592.3M |
| Buildings and improvements | $5.4B | $5.4B | $5.4B | $5.7B |
| Total real estate properties, gross | $6.0B | $6.0B | $6.0B | $6.3B |
| Accumulated depreciation | ($2.2B) | ($2.1B) | ($2.1B) | ($2.1B) |
| Total real estate properties, net | $3.8B | $3.8B | $3.9B | $4.2B |
| Investments in unconsolidated joint ventures | $120.9M | $119.6M | $112.8M | $139.2M |
| Assets of properties held for sale | $0 | $0 | $258.4M | $96.9M |
| Cash and cash equivalents | $116.8M | $121.8M | $201.4M | $141.8M |
| Restricted cash | $19.4M | $18.1M | $8.3M | $6.8M |
| Equity method investment | $0 | $0 | $8.2M | $8.4M |
| Acquired real estate leases and other intangible assets, net | $18.5M | $19.6M | $21.8M | $23.1M |
| Other assets, net | $166.6M | $169.6M | $190.8M | $186.6M |
| Total assets | $4.2B | $4.3B | $4.7B | $4.8B |
| Secured revolving credit facility | $0 | $0 | $0 | $0 |
| Senior notes | $1.9B | $1.9B | $2.3B | $2.2B |
| Secured debt and finance leases, net | $454.7M | $454.6M | $455.9M | $456.9M |
| Liabilities of properties held for sale | $0 | $0 | $17.6M | $5.6M |
| Accrued interest | $29.2M | $26.1M | $12.4M | $23.4M |
| Other liabilities | $223.8M | $219.5M | $241.9M | $236.0M |
| Total liabilities | $2.7B | $2.6B | $3.0B | $2.9B |
| Common shares of beneficial interest, $.01 par value: 300,000,000 shares authorized, 242,189,353 and 242,121,025 shares issued and outstanding, respectively | 2.4M | 2.4M | 2.4M | 2.4M |
| Additional paid in capital | $4.6B | $4.6B | $4.6B | $4.6B |
| Cumulative net income | $1.0B | $1.1B | $1.1B | $1.3B |
| Cumulative other comprehensive loss | ($55.0K) | ($93.0K) | $19.0K | $18.0K |
| Cumulative distributions | ($4.1B) | ($4.1B) | ($4.1B) | ($4.1B) |
| Total shareholders' equity | $1.6B | $1.6B | — | — |
| Total liabilities and shareholders' equity | $4.2B | $4.3B | $4.7B | $4.8B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net loss | ($285.9M) | ($370.3M) | — | — |
| Depreciation and amortization | $261.9M | $285.0M | $284.1M | $239.3M |
| Net amortization of debt premiums, discounts and issuance costs | $77.9M | $103.4M | $11.8M | $8.7M |
| Payment of accreted interest on senior secured notes | ($152.9M) | — | — | — |
| Straight line rental income | ($962.0K) | ($1.4M) | $1.1M | ($8.9M) |
| Amortization of acquired real estate leases and other intangible assets, net | $113.0K | $106.0K | — | $245.0K |
| Loss on modification or early extinguishment of debt | $42.5M | $324.0K | $2.5M | $30.0M |
| Impairment of assets | $165.7M | $70.7M | $18.4M | $0 |
| (Gain) loss on sale of properties | ($117.7M) | $18.9M | ($1.2M) | ($321.9M) |
| Gains on equity securities, net | $0 | $0 | ($8.1M) | $25.7M |
| Gain on insurance recoveries | ($7.5M) | — | — | — |
| Other non-cash adjustments, net | ($359.0K) | ($1.0M) | ($1.9M) | ($2.0M) |
| Unconsolidated joint venture distributions | $1.0M | $1.2M | $5.1M | $8.8M |
| Equity in net (earnings) losses of investees | ($36.8M) | ($1.6M) | $20.5M | ($6.1M) |
| Deferred leasing costs, net | ($4.3M) | ($3.6M) | ($9.8M) | ($7.9M) |
| Other assets | ($2.7M) | $16.7M | $10.7M | $10.9M |
| Accrued interest | $7.6M | $245.0K | ($6.6M) | ($428.0K) |
| Other liabilities | $32.6M | ($6.5M) | ($22.1M) | ($1.0M) |
| Net cash (used in) provided by operating activities | ($19.6M) | $112.2M | $10.5M | ($40.4M) |
| Real estate improvements | ($146.8M) | ($201.7M) | ($235.0M) | ($299.4M) |
| Proceeds from sale of properties, net | $589.2M | $34.2M | $18.4M | $822.0K |
| Proceeds from insurance recoveries | $1.3M | $1.7M | $534.0K | $14.5M |
| Investment in AlerisLife Inc. | $0 | ($15.5M) | — | — |
| Proceeds from AlerisLife Inc. tender offer | $0 | $0 | $14.0M | — |
| Equity method investment distributions | $48.4M | — | — | — |
| Contributions to unconsolidated joint ventures | ($8.5M) | ($5.7M) | — | — |
| Purchase of interest rate cap | ($47.0K) | — | — | — |
| Net cash provided by (used in) investing activities | $483.6M | ($187.0M) | ($202.1M) | $387.7M |
| Proceeds from issuance of senior secured notes, net | $369.4M | $0 | $750.0M | — |
| Proceeds from mortgage notes payable | $343.2M | $120.0M | — | — |
| Repayments of borrowings on credit facility | $0 | $0 | ($700.0M) | ($100.0M) |
| Redemption of senior secured notes | ($750.0M) | — | — | — |
| Redemption of senior unsecured notes | ($380.0M) | ($120.0M) | ($250.0M) | ($500.0M) |
| Repayment of other debt | ($3.8M) | ($3.2M) | ($17.0M) | ($39.1M) |
| Early extinguishment of debt settled in cash | ($37.7M) | $0 | ($978.0K) | ($24.4M) |
| Payment of debt issuance costs | ($22.2M) | ($8.6M) | ($21.7M) | ($2.8M) |
| Repurchase of common shares | -1.1M | -904.0K | -393.0K | -171.0K |
| Distributions to shareholders | ($9.7M) | ($9.6M) | ($9.6M) | ($9.6M) |
| Net cash used in financing activities | ($492.0M) | ($22.3M) | ($249.7M) | ($676.0M) |
| Decrease in cash and cash equivalents and restricted cash | ($28.1M) | ($97.1M) | ($441.3M) | ($328.6M) |
| Cash and cash equivalents and restricted cash at beginning of period | $149.9M | $247.0M | $688.3M | $688.3M |
| Cash and cash equivalents and restricted cash at end of period | $121.8M | $149.9M | $247.0M | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net loss | ($80.7M) | ($43.3M) | ($264.7M) | ($100.6M) |
| Depreciation and amortization | $125.5M | $62.9M | $199.9M | $134.6M |
| Net amortization of debt discounts, premiums and issuance costs | $4.6M | $2.3M | $66.1M | $46.0M |
| Payment of accreted interest on senior secured notes | $0 | $0 | ($87.0M) | ($34.7M) |
| Straight line rental income | $147.0K | ($57.0K) | ($759.0K) | ($309.0K) |
| Lease value amortization | $58.0K | — | — | — |
| Loss on modification or early extinguishment of debt | $0 | $0 | $40.4M | $29.2M |
| Impairment of assets | $0 | $0 | $162.7M | $69.5M |
| Loss (gain) on sale of real estate | $1.8M | $1.2M | ($104.0M) | ($102.7M) |
| Gain on insurance recoveries | $0 | $0 | ($7.5M) | ($7.5M) |
| Other non-cash adjustments, net | $1.1M | ($226.0K) | ($10.0K) | ($231.0K) |
| Unconsolidated joint venture distributions | $1.2M | $600.0K | $250.0K | $0 |
| Equity in net earnings of investees | ($1.9M) | ($96.0K) | ($9.7M) | ($4.6M) |
| Deferred leasing costs, net | ($4.2M) | ($1.7M) | ($3.3M) | ($2.7M) |
| Other assets | $24.5M | $20.8M | ($11.2M) | $11.4M |
| Accrued interest | ($1.5M) | ($4.6M) | ($10.7M) | $313.0K |
| Other liabilities | ($23.9M) | ($29.5M) | $29.8M | $12.1M |
| Net cash provided by operating activities | $46.7M | $8.3M | $492.0K | $49.8M |
| Real estate acquisitions | ($14.6M) | — | — | — |
| Real estate improvements | ($59.4M) | ($35.2M) | ($114.4M) | ($73.8M) |
| Proceeds from sale of real estate, net | $21.7M | $21.7M | $349.4M | $334.1M |
| Equity method investment distributions | $27.2M | $27.2M | $48.4M | $17.0M |
| Contributions to unconsolidated joint ventures | $0 | $0 | ($8.5M) | ($8.5M) |
| Proceeds from insurance recoveries | $0 | $0 | $1.3M | $1.3M |
| Purchase of interest rate cap | ($147.0K) | ($147.0K) | ($47.0K) | ($47.0K) |
| Net cash (used in) provided by investing activities | ($25.2M) | $13.6M | $276.2M | $270.0M |
| Proceeds from mortgage notes payable | $0 | $0 | $343.2M | $343.2M |
| Redemption of senior secured notes | $0 | $0 | ($483.4M) | ($238.6M) |
| Redemption of senior unsecured notes | $0 | — | ($380.0M) | ($380.0M) |
| Repayment of other debt | ($1.9M) | ($1.2M) | ($2.7M) | ($1.7M) |
| Early extinguishment of debt settled in cash | $0 | $0 | ($35.8M) | ($25.9M) |
| Payment of debt issuance costs | ($252.0K) | ($173.0K) | ($19.2M) | ($13.2M) |
| Repurchase of common shares | -138.0K | -88.0K | -1.1M | -109.0K |
| Distributions to shareholders | ($4.8M) | ($2.4M) | ($7.2M) | ($4.8M) |
| Net cash used in financing activities | ($7.2M) | ($3.9M) | ($216.9M) | ($321.1M) |
| Increase (decrease) in cash and cash equivalents and restricted cash | $14.4M | $18.1M | $59.8M | ($1.3M) |
| Cash and cash equivalents and restricted cash at beginning of period | $121.8M | $121.8M | $149.9M | $149.9M |
| Cash and cash equivalents and restricted cash at end of period | $136.2M | $139.9M | $209.6M | $148.6M |
Diversified Healthcare Trust score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.