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%.
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.
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.