Strong Start to 2025
First quarter results exceeded expectations due to faster acquisitions and better-than-expected cash rent collections. Normalized FFO guidance midpoint increased by $0.08 per share to $4.71, representing a 6.1% year-over-year growth.
Significant Investments
Announced investments of $174.9 million year-to-date, with an active pipeline of approximately $264 million, indicating strong acquisition momentum.
SHOP Portfolio Growth
Progress made on transitioning a portfolio of six properties to a new RIDEA partnership, with expected NOI growth of 12% to 15% for the year.
Solid Financial Performance
Net income per diluted common share increased by 4.2% to $0.74, and normalized FFO per diluted common share increased by 2.7% to $1.15 compared to the prior year period.
Healthy Balance Sheet
Net debt to adjusted EBITDA ratio is 4.1x, with $135 million in cash and strong liquidity to support the investment pipeline.