Senior Housing Properties (SNH) Reports In-Line Revenues and Income

Senior Housing Properties (NYSE: SNH) reported in line earnings this morning. Both bottom and top line came in as expected with revenues up 24% year over year at $72M and $0.41/share in funds from operations.

The company also announced some additional acquisitions made in a continuing attempt to diversify their tenants. Two months ago Senior Housing Properties issued an additional $127M in shares, this was used in these additional property acquisitions and for general corporate purposes.

The market largely ignored the earnings report and portfolio update. Senior Housing closed up 0.4% to $19.35/share on below normal volume.