NYSE: SNH...$23.01...Quarterly Dividend:$0.39...Yield:6.78%
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On February 10, 2014, SNH announced that it has agreed to acquire two Class A buildings in the Seaport District, Boston’s fastest growing and premier submarket. The acquisition will further diversify and strengthen SNH’s MOB portfolio and is expected to be immediately accretive on a normalized FFO/share basis to SNH shareholders.
Consistent dividend growth.
Over the past decade, SNH has achieved consistently solid financial performance and dividend growth. Since inception, SNH has paid out over $1.9 billion in distributions to investors through December 31, 2013, including dividend increases in each of the last four years.
SNH owns 371 healthcare related properties. It has geographic diversification with properties in 38 states and Washington, DC and it has tenant diversification with approximately 600 tenants.
SNH owns high quality assets with low historical per unit, per square foot or per bed costs. Property types include private pay senior living communities, medical office, clinic and biotech lab buildings, private pay wellness centers and skilled nursing facilities.
Minimal Medicare exposure.
Only 4% of SNH’s net operating income (NOI) comes from skilled nursing facilities, which is among the lowest concentration levels of the publicly traded healthcare REITs.
Conservative financial approach.
SNH has a conservative balance sheet and is investment grade rated (Moody’s: Baa3; S&P: BBB-). Since it was first rated in 2001, its debt has averaged only 37% of total book capital. It has well laddered debt maturities with approximately 90% coming due after 2015.
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Healthcare Real Estate
Senior Housing Properties Trust is a healthcare real estate investment trust, or REIT. As of December 31, 2013, Senior Housing Properties Trust owned 371 properties in 38 states and Washington, DC.
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Senior Housing Properties Trust
Two Newton Place, 255 Washington Street, Newton, MA 02458-1634
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