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Chiron Real Estate Q3 net loss widens, Core FFO falls

By Reuters News


Overview

  • US healthcare REIT's Q3 net loss widened year-over-year

  • Q3 included $2 mln in severance and transition costs tied to shift to seniors housing


Outlook

  • Company sees strong investor interest in medical office assets and plans to expand seniors housing

  • Chiron continues to pursue sale of outpatient medical portfolio, expects to redeploy proceeds

  • Company expects newly opened seniors housing assets to stabilize at yields above 7% by 2028-2029


Result Drivers

  • OUTPATIENT MEDICAL PORTFOLIO - Co said it is actively pursuing the sale of its outpatient medical portfolio, with market conditions for medical office assets described as strong

  • SENIORS HOUSING EXPANSION - Co expanded its seniors housing platform and acquired new properties, aiming to redeploy capital for future growth

  • SEVERANCE AND TRANSITION COSTS - Q3 results included $2 mln in severance and transition expenses related to the company's shift toward seniors housing


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Rental Revenue

$33.52 mln

Q3 Net Loss

$5.74 mln

Q3 Core FFO

$10.86 mln

Q3 FFO

$7.28 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the specialized reits peer group is "buy"

  • Wall Street's median 12-month price target for Chiron Real Estate Inc is $43.00, about 41.5% above its November 3 closing price of $30.38


Reuters Recommended Reads

  • Nov 2 - Senior housing REIT Janus Living's Q3 revenue jumps 78%, FFO up 46%

  • Nov 2 - Diversified Healthcare Trust Q3 net loss narrows amid occupancy growth

  • Nov 2 - Sabra Health Care REIT Q3 revenue rises year-over-year


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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