Capital Senior Living(US:SNDA)2025-05-12 13:35Financial Highlights - Q1'25 weighted average occupancy for the total portfolio was 84.7%[41], a decrease of 120 bps compared to Q1'24 due to the addition of Acquisition Communities at lower occupancy levels[41] - Same-Store Community NOI increased by $2.6 million, or 19.3% year-over-year[34] - Same-Store Community NOI Margin increased by 280 bps year-over-year, reaching 27.6% in Q1'25[34] - Acquisition Community NOI saw sequential growth of $1.0 million, or 31.3%[37] - Acquisition Community NOI Margin increased sequentially by 450 bps, reaching 26.3% in Q1'25[37] Portfolio Performance - The company's portfolio consists of 94 communities with 9,092 units across 20 states[11, 19] - The portfolio is diversified across acuity settings, with 47% of units in Assisted Living (AL), 37% in Independent Living (IL), and 16% in Memory Care (MC)[19] - The company acquired 20 communities in 2024, representing approximately 1,700 units[11, 77] - The company's weighted average interest rate on debt was 5.36% as of March 31, 2025[13, 59] Growth and Strategy - The company is focused on organic growth through operational improvements and disciplined inorganic growth through acquisitions, joint ventures, and third-party management contracts[13] - The company is targeting a near-term path to $100 million+ NOI with additional upside from continued rate, occupancy, and margin expansion[64] - The company's capital allocation strategy includes reinvesting in technology and systems, selective acquisitions/dispositions, and creative capital stack solutions[21, 67]