Home Equities Score Here is why Regional Health Properties Inc. (RHE) stock plunged on Monday?

Here is why Regional Health Properties Inc. (RHE) stock plunged on Monday?

Regional Health Properties Inc. (RHE) shares soared 0.23% to trade at $13.03 in pre-market after RHE’s stock lost 12.69% in the early trading session on Monday. RHE shares have rocketed 1020.69% over the last 12 months, and they have moved down 24.20% in the past week. Over the past three months, the stock has gained 81.06%, while over the past six months, it has surged 802.78%.

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Let’s see what’s going on with RHE recently?

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Recent financial results

On May 17, 2021, Regional Health Properties released its financial results for the first quarter ended March 31, 2021.

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Q1 2021 financial highlights

  • Total rental revenues in the first quarter of 2021 were $7.081 million compared to $4.56 million in the first quarter of 2020.
  • General and administrative expenses were $1.0 million for the first quarter of 2021, compared with $0.9 million for the same period in 2020.
  • Total expenses were $6.0 million in Q12021 compared to $3.67 million in Q1 2020.
  • RHE reported a net income of 21,000 in Q1 2021 compared with a net loss of $14,000 for the first quarter of 2020.
  • The company had total cash and cash equivalent of 6.2 million on March 31, 2021, compared with $4.2 million on December 31, 2020. 

Q4 & FY-2020financial results

On April 1, 2021, Regional Health Properties released its financial results for the fourth quarter and for the year ended December 31, 2020.

Q4 2020 financial highlights

  • Total rental revenues in the fourth quarter of 2020 were $3.4 million, from $4.3 million in the fourth quarter of 2019.
  • General and administrative expenses were $1.0 million for the fourth quarter of 2020, compared with $641,000 for the same period in 2019.
  • Loss from discontinued operations, net of tax, for the reported quarter was $51,000 compared to income from discontinued operations of $215,000 for the prior-year period.
  • Net loss attributable to Regional Health Properties, Inc.’s common stockholders in Q4 2020 was $3.3 million compared with a net loss of $1.5 million in the prior-year period. 

FY-2020 financial highlights

  • Total rental revenues for the 12 months ended December 31, 2020, were $16.3 million, from $19.0 million for the twelve months ended December 31, 2019.
  • General and administrative expenses were $3.4 million for FY 2020, compared with $3.2 million for FY 2019.
  • For the reported year, loss from discontinued operations, net of tax, was $84,000 compared to income from discontinued operations of $626,000 for the prior year.
  • The net loss attributable to Regional Health Properties, Inc.’s common stockholders were $9.7 million or $5.74 per basic and diluted share in FY 2020 compared with a net loss of $3.5 million in FY 2019.
  • The company had cash and cash equivalents of $4.2 million on December 31, 2020, compared with $4.4 million on December 31, 2019.

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Conclusion

RHE stock plummeted on Monday after the company announced its first-quarter financial results. The RHE stock can further decline in the coming days because of its poor financial results announcement.

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