Diversified Healthcare Trust (NASDAQ:DHC) Q1 2022 Earnings Conference Call May 4, 2022 10:00 AM ET

Company Participants

Michael Kodesch – Director-Investor Relations

Jennifer Francis – President and Chief Executive Officer

Rick Siedel – Chief Financial Officer and Treasurer

Conference Call Participants

Bryan Maher – B. Riley Securities

Operator

Good day. And welcome to the Diversified Healthcare Trust First Quarter 2022 Earnings Conference Call. During today’s call all participants will be in listen-only mode. [Operator Instructions] Please note that today’s even is being recorded.

I would now like to turn the conference over to Michael Kodesch, Director of Investor Relations. Please go ahead sir.

Michael Kodesch

Good morning and welcome to Diversified Healthcare Trust call covering the first quarter 2022 results.

Joining me on today's call are Jennifer Francis, President and Chief Executive Officer; and Rick Siedel, Chief Financial Officer and Treasurer.

Today's call includes a presentation by management followed by a question-and-answer session.

I would like to note that the transcription, recording, and retransmission of today's conference call are strictly prohibited without the prior written consent of Diversified Healthcare Trust or DHC.

Today's conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon DHC's present beliefs and expectations as of today, Wednesday, May 4, 2022. The company undertakes no obligation to revise or publicly release the results of any revision to the forward-looking statements made in today's conference call other than through filings with the Securities and Exchange Commission or SEC.

In addition, this call may contain non-GAAP numbers, including normalized funds from operations or normalized FFO, EBITDA, net operating income or NOI, and cash basis net operating income or cash basis NOI. Reconciliations of net income or loss attributable to common shareholders to these non-GAAP figures and the components to calculate AFFO, CAD, or FAD are available in our supplemental operating and financial data package found on our website at www.dhcreit.com. Actual results may differ materially from those projected in any forward-looking statements. Additional information concerning factors that could cause those differences is contained in our filings with the SEC. Investors are cautioned not to place undue reliance upon any forward-looking statements.

Now I'd like to turn the call over to Jennifer.

Jennifer Francis

Thank you, Michael. And good morning. Thank you for joining us on today's call.

Following the joint venture transaction completed in January, our portfolio today con continues to consist of diversified, high-quality and well-located healthcare assets. At the end of the first quarter, the size of our consolidated office portfolio is approximately 8.7 million square feet and our entire senior living portfolio is comprised of 264 communities with over 27,000 units.