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Strategic Student & Senior Housing Trust Inc Cl A Shs (STSR) has filed its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The company reported a net income of $19.3 million for the year, compared to a net loss of $9.8 million in the previous year. This change is primarily due to the gain on the sale of the Fayetteville property, which was sold for $72.25 million.
As of December 31, 2024, Strategic Student & Senior Housing Trust owned four senior housing properties. The company sold its sole remaining student housing property, the Fayetteville property, on July 31, 2024.
The company’s total revenue from continuing operations for the year was approximately $34.9 million, an increase from $32.6 million in 2023. This increase was driven by higher rental rates at the senior housing properties.
Total operating expenses for the year were approximately $35.2 million, compared to $33.6 million in the prior year. The increase was mainly due to higher payroll and unit turnover costs at the senior housing properties.
Interest expense for the year was approximately $5.3 million, slightly down from $5.4 million in 2023. This decrease is attributed to scheduled principal paydowns.
The company’s cash and cash equivalents as of December 31, 2024, were approximately $10.7 million, up from $5.6 million at the end of 2023. This increase is largely due to the proceeds from the sale of the Fayetteville property.
Strategic Student & Senior Housing Trust has suspended its share redemption program and distributions to stockholders due to the uncertainty related to the COVID-19 pandemic and its impact on financial results.
The company’s total debt as of December 31, 2024, was approximately $104.6 million, all of which is fixed rate debt. The debt is primarily related to the acquisition of senior housing properties.
The company continues to focus on managing its existing senior housing properties and does not have plans to acquire additional properties at this time.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Strategic Student & Senior Housing Trust Inc Cl A Shs annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.