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Strategic Student & Senior Housing Trust Inc (STSR0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing leasing and related revenues from senior housing increased to $8.9 million from $8.3 million in the same quarter the previous year. The increase is attributed to higher rental rates.
Property operating expenses for senior housing rose to $6.4 million from $6.1 million, primarily due to increased payroll costs and inflationary pressures.
The company reported a net income from discontinued operations of $26.9 million, compared to a loss of $1.0 million in the previous year, primarily due to the sale of the Fayetteville property.
Interest expense remained stable at approximately $1.3 million for the quarter.
Net income attributable to common stockholders for the quarter was $25.4 million, compared to a loss of $2.8 million in the previous year.
Cash used in operating activities was $4.7 million, while cash provided by investing activities was $69.9 million, mainly from the sale of the Fayetteville property.
The company had total outstanding debt of $105.1 million, all at fixed interest rates.
Strategic Student & Senior Housing Trust Inc owned four senior housing properties as of September 30, 2024.
The company continues to focus on managing its existing properties following the termination of its public offering and the sale of its student housing property.
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 quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.