Capital Senior Living(US:SNDA)2023-03-30 20:31Financial Performance - The weighted average occupancy for owned communities in Q4 2022 was 83.9%[1] - In 2022, the company's resident revenue was $208.7 million, a 9.9% increase compared to $189.8 million in 2021[26] - The company's NOI (Net Operating Income) for 62 properties was $41.6 million in 2022, up 8.7% from $38.3 million in 2021[26] - As of December 31, 2022, fixed-rate debt accounted for 74% ($503.3 million) of the total debt structure[12] Operational Initiatives - The company is implementing a new level of care program, simplified to 4 levels, with completion targeted for Q2 2023[5] - A single lease renewal date initiative has begun, targeting 1,500 leases updated by March 1, 2023[4] - The company is implementing a comprehensive resident rate review program and accelerated rent increases in 2023[15] Portfolio and Services - The company has 72 communities, including 62 owned and 10 managed, with a resident capacity of approximately 8,000[21, 29] - The company's communities are primarily focused on private pay residents, representing 90% of the resident base[20] - The company reinvested $10 million into the portfolio at 18 communities for market defensive and revenue-generating projects[45] - Memory Care revenue growth of $4.0 million, a 12.5% increase vs 2021[46]