www.newseniorinv.com<\/a>.\n<\/p>\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS<\/span><\/b><\/p>\n\nCertain information in this press release may constitute \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements regarding New Senior\u2019s 2021 strategic priorities and expectations with respect to the potential range of 2021 financial results; risks and uncertainties associated with the ability of the Company and Ventas, Inc. to complete the proposed acquisition of the Company by Ventas, Inc. on the proposed terms or on the anticipated timeline, or at all; disruption from the proposed acquisition of the Company by Ventas, Inc., including diversions to the attention of management and the restrictive covenants agreed upon by and between the Company and Ventas, Inc., making it more difficult to conduct business as usual or maintain relationships with property managers, tenants, employees or other third parties; transaction costs and other expenses and liabilities, including from litigation, arising out of the proposed acquisition; the expected impact of the COVID-19 pandemic on our business, liquidity, properties, operators and the health systems and populations that we serve; the cost and effectiveness of measures we have taken to respond to the COVID-19 pandemic, including health and safety protocols and system capacity enhancements that are intended to limit the transmission of COVID-19 at our properties; our expected occupancy rates and operating expenses; and the declaration or amount of any future dividend. These statements are not historical facts. They represent management\u2019s current expectations regarding future events and are subject to a number of risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties relating to the continuing impact of COVID-19 on our operations and the operation of our facilities, including ongoing cases at certain of our facilities, the speed, geographic reach and duration of the COVID-19 pandemic; the legal, regulatory and administrative developments that occur at the federal, state and local levels; the efficacy of our operators\u2019 infectious disease protocols and prevention efforts; the broader impact of the pandemic on local economies and labor markets; the overall demand for our communities in the recovery period following the pandemic; our ability to successfully manage the asset management by third parties; and market conditions generally which affect demand and supply for senior housing. We believe that the adverse impact that COVID-19 will have on the future operations and financial results at our communities will depend upon many factors, most of which are beyond our ability to control or predict. Accordingly, you should not place undue reliance on any forward-looking statements contained herein. For a discussion of these and other risks and important factors that could affect such forward-looking statements, see the sections entitled \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d in the Company\u2019s most recent annual and quarterly reports filed with the Securities and Exchange Commission, which are available on the Company\u2019s website (www.newseniorinv.com<\/a>). New risks and uncertainties emerge from time to time, and it is not possible for us to predict or assess the impact of every factor that may cause our results to differ materially from those anticipated by any forward-looking statements. Forward-looking statements contained herein, and all statements made in this press release, speak only as of the date of this press release, and the Company expressly disclaims any duty or obligation to release publicly any updates or revisions to any statements contained herein to reflect any change in the Company\u2019s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.\n<\/p>\n\n
\n\nConsolidated Balance Sheets<\/b><\/td>\n<\/tr>\n\n(dollars in thousands, except share data)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nJune 30, 2021<\/b><\/td>\n | | \nDecember 31, 2020<\/b><\/td>\n<\/tr>\n\n | \n(Unaudited)<\/b><\/td>\n | | \n(Note)<\/b><\/td>\n<\/tr>\n\n| Assets<\/b><\/td>\n | | \n | \n | <\/tr>\n \n| Real estate investments:<\/td>\n | | \n | \n | <\/tr>\n \n| Land<\/td>\n | \n \n$ 134,643\n<\/p>\n<\/td>\n | | \n\n \n$ 134,643\n<\/p>\n<\/td>\n<\/tr>\n | \n| Buildings, improvements and other<\/td>\n | \n \n1,990,324\n<\/p>\n<\/td>\n | | \n\n \n1,983,363\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accumulated depreciation<\/td>\n | \n \n(448,739)\n<\/p>\n<\/td>\n | | \n\n \n(417,455)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net real estate property<\/td>\n | \n \n1,676,228\n<\/p>\n<\/td>\n | | \n\n \n1,700,551\n<\/p>\n<\/td>\n<\/tr>\n | \n| Acquired lease and other intangible assets<\/td>\n | \n \n7,642\n<\/p>\n<\/td>\n | | \n\n \n7,642\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accumulated amortization<\/td>\n | \n \n(2,773)\n<\/p>\n<\/td>\n | | \n\n \n(2,595)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net real estate intangibles<\/td>\n | \n \n4,869\n<\/p>\n<\/td>\n | | \n\n \n5,047\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net real estate investments<\/td>\n | \n \n1,681,097\n<\/p>\n<\/td>\n | | \n\n \n1,705,598\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash and cash equivalents<\/td>\n | \n \n23,187\n<\/p>\n<\/td>\n | | \n\n \n33,046\n<\/p>\n<\/td>\n<\/tr>\n | \n| Receivables and other assets, net<\/td>\n | \n \n39,294\n<\/p>\n<\/td>\n | | \n\n \n34,892\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total Assets<\/td>\n | \n \n$ 1,743,578\n<\/p>\n<\/td>\n | | \n\n \n$ 1,773,536\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Liabilities, Redeemable Preferred Stock and Equity<\/b><\/td>\n | | \n | \n | <\/tr>\n \n| Liabilities<\/td>\n | | \n | \n | <\/tr>\n \n| Debt, net<\/td>\n | \n \n$ 1,481,051\n<\/p>\n<\/td>\n | | \n\n \n$ 1,486,164\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accrued expenses and other liabilities<\/td>\n | \n \n59,924\n<\/p>\n<\/td>\n | | \n\n \n63,886\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total Liabilities<\/td>\n | \n \n1,540,975\n<\/p>\n<\/td>\n | | \n\n \n1,550,050\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nRedeemable preferred stock, par value $0.01 per share with $100
liquidation preference, 200,000 shares authorized, issued and
outstanding as of both June 30, 2021 and December 31, 2020<\/td>\n | \n \n20,250\n<\/p>\n<\/td>\n | | \n\n \n20,253\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Equity<\/b><\/td>\n | | \n | \n | <\/tr>\n \nPreferred stock, par value $0.01 per share, 99,800,000 shares
(excluding 200,000 shares of redeemable preferred stock)
authorized, none issued or outstanding as of both June 30, 2021
and December 31, 2020<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n<\/tr>\n | \nCommon stock, $0.01 par value, 2,000,000,000 shares
authorized, 84,063,182 and 83,023,970 shares issued and
outstanding as of June 30, 2021 and December 31, 2020, respectively<\/td>\n | \n \n841\n<\/p>\n<\/td>\n | | \n\n \n830\n<\/p>\n<\/td>\n<\/tr>\n | \n| Additional paid-in capital<\/td>\n | \n \n911,171\n<\/p>\n<\/td>\n | | \n\n \n907,577\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accumulated deficit<\/td>\n | \n \n(726,519)\n<\/p>\n<\/td>\n | | \n\n \n(694,194)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accumulated other comprehensive loss<\/td>\n | \n \n(3,140)\n<\/p>\n<\/td>\n | | \n\n \n(10,980)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total Equity<\/td>\n | \n \n182,353\n<\/p>\n<\/td>\n | | \n\n \n203,233\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total Liabilities, Redeemable Preferred Stock and Equity<\/td>\n | \n \n$ 1,743,578\n<\/p>\n<\/td>\n | | \n\n \n$ 1,773,536\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\nNote: The consolidated balance sheet at December 31, 2020 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements.<\/td>\n<\/tr>\n<\/table>\n\n\n\nConsolidated Statements of Operations<\/b><\/td>\n<\/tr>\n\n(dollars in thousands, except share data)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nThree Months Ended June 30,<\/b><\/td>\n | | \nSix Months Ended June 30,<\/b><\/td>\n<\/tr>\n\n | \n\n 2021<\/b><\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n(unaudited)<\/b><\/td>\n | | \n(unaudited)<\/b><\/td>\n<\/tr>\n\n| Revenues<\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n| Resident fees and services<\/td>\n | \n \n$ 77,507\n<\/p>\n<\/td>\n | \n \n$ 82,951\n<\/p>\n<\/td>\n | | \n\n \n$ 155,620\n<\/p>\n<\/td>\n | \n \n$ 167,958\n<\/p>\n<\/td>\n<\/tr>\n | \n| Rental revenue<\/td>\n | \n \n1,582\n<\/p>\n<\/td>\n | \n \n1,582\n<\/p>\n<\/td>\n | | \n\n \n3,165\n<\/p>\n<\/td>\n | \n \n3,165\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total revenues<\/td>\n | \n \n79,089\n<\/p>\n<\/td>\n | \n \n84,533\n<\/p>\n<\/td>\n | | \n\n \n158,785\n<\/p>\n<\/td>\n | \n \n171,123\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Expenses<\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n| Property operating expense<\/td>\n | \n \n49,698\n<\/p>\n<\/td>\n | \n \n48,760\n<\/p>\n<\/td>\n | | \n\n \n99,146\n<\/p>\n<\/td>\n | \n \n99,825\n<\/p>\n<\/td>\n<\/tr>\n | \n| Depreciation and amortization<\/td>\n | \n \n15,586\n<\/p>\n<\/td>\n | \n \n16,782\n<\/p>\n<\/td>\n | | \n\n \n31,475\n<\/p>\n<\/td>\n | \n \n34,318\n<\/p>\n<\/td>\n<\/tr>\n | \n| Interest expense<\/td>\n | \n \n14,350\n<\/p>\n<\/td>\n | \n \n15,281\n<\/p>\n<\/td>\n | | \n\n \n28,703\n<\/p>\n<\/td>\n | \n \n32,500\n<\/p>\n<\/td>\n<\/tr>\n | \n| General and administrative expense<\/td>\n | \n \n6,579\n<\/p>\n<\/td>\n | \n \n5,894\n<\/p>\n<\/td>\n | | \n\n \n12,854\n<\/p>\n<\/td>\n | \n \n11,740\n<\/p>\n<\/td>\n<\/tr>\n | \n| Acquisition, transaction and integration expense<\/td>\n | \n \n5,607\n<\/p>\n<\/td>\n | \n \n19\n<\/p>\n<\/td>\n | | \n\n \n6,000\n<\/p>\n<\/td>\n | \n \n152\n<\/p>\n<\/td>\n<\/tr>\n | \n| Loss on extinguishment of debt<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | \n \n5,884\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other expense<\/td>\n | \n \n205\n<\/p>\n<\/td>\n | \n \n433\n<\/p>\n<\/td>\n | | \n\n \n820\n<\/p>\n<\/td>\n | \n \n328\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total expenses<\/td>\n | \n \n92,025\n<\/p>\n<\/td>\n | \n \n87,169\n<\/p>\n<\/td>\n | | \n\n \n178,998\n<\/p>\n<\/td>\n | \n \n184,747\n<\/p>\n<\/td>\n<\/tr>\n | \n| Loss before income taxes<\/td>\n | \n \n(12,936)\n<\/p>\n<\/td>\n | \n \n(2,636)\n<\/p>\n<\/td>\n | | \n\n \n(20,213)\n<\/p>\n<\/td>\n | \n \n(13,624)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense<\/td>\n | \n \n33\n<\/p>\n<\/td>\n | \n \n22\n<\/p>\n<\/td>\n | | \n\n \n67\n<\/p>\n<\/td>\n | \n \n82\n<\/p>\n<\/td>\n<\/tr>\n | \n| Loss from continuing operations<\/td>\n | \n \n(12,969)\n<\/p>\n<\/td>\n | \n \n(2,658)\n<\/p>\n<\/td>\n | | \n\n \n(20,280)\n<\/p>\n<\/td>\n | \n \n(13,706)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Discontinued Operations:<\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n| Gain on sale of real estate<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | \n \n19,992\n<\/p>\n<\/td>\n<\/tr>\n | \n| Loss from discontinued operations<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | \n \n(3,107)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Discontinued operations, net<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | \n \n16,885\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net income (loss)<\/b><\/td>\n | \n \n(12,969)\n<\/p>\n<\/td>\n | \n \n(2,658)\n<\/p>\n<\/td>\n | | \n\n \n(20,280)\n<\/p>\n<\/td>\n | \n \n3,179\n<\/p>\n<\/td>\n<\/tr>\n | \n| Deemed dividend on redeemable preferred stock<\/td>\n | \n \n(299)\n<\/p>\n<\/td>\n | \n \n(599)\n<\/p>\n<\/td>\n | | \n\n \n(595)\n<\/p>\n<\/td>\n | \n \n(1,197)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net income (loss) attributable to common stockholders<\/b><\/td>\n | \n \n($ 13,268)\n<\/p>\n<\/td>\n | \n \n($ 3,257)\n<\/p>\n<\/td>\n | | \n\n \n($ 20,875)\n<\/p>\n<\/td>\n | \n \n$ 1,982\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nBasic and diluted earnings per common share: (A)<\/sup><\/b><\/td>\n | \n | \n | \n | \n | <\/tr>\n\n| Loss from continuing operations attributable to common stockholders<\/td>\n | \n \n($ 0.16)\n<\/p>\n<\/td>\n | \n \n($ 0.04)\n<\/p>\n<\/td>\n | | \n\n \n($ 0.25)\n<\/p>\n<\/td>\n | \n \n($ 0.18)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Discontinued operations, net<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | | \n\n \n–\n<\/p>\n<\/td>\n | \n \n0.20\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net income (loss) attributable to common stockholders<\/td>\n | \n \n($ 0.16)\n<\/p>\n<\/td>\n | \n \n($ 0.04)\n<\/p>\n<\/td>\n | | \n\n \n($ 0.25)\n<\/p>\n<\/td>\n | \n \n$ 0.02\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Weighted average number of shares of common stock outstanding<\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \nBasic and Diluted (B)<\/sup><\/td>\n| \n \n83,653,329\n<\/p>\n<\/td>\n | \n \n82,459,741\n<\/p>\n<\/td>\n | | \n\n \n83,233,377\n<\/p>\n<\/td>\n | \n \n82,423,182\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Dividends declared and paid per share of common stock<\/td>\n | \n \n$ 0.07\n<\/p>\n<\/td>\n | \n \n$ 0.07\n<\/p>\n<\/td>\n | | \n\n \n$ 0.13\n<\/p>\n<\/td>\n | \n \n$ 0.20\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| (A) Basic earnings per share (\u201cEPS\u201d) is calculated by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding. The outstanding shares used to calculate the weighted average basic shares outstanding exclude 227,462 and 454,921 restricted stock awards, net of forfeitures, as of June\u00a030, 2021 and 2020, respectively, as those shares were issued but were not vested and therefore, not considered outstanding for purposes of computing basic EPS. Diluted EPS is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding plus the additional dilutive effect, if any, of common stock equivalents during each period.<\/td>\n<\/tr>\n | \n| \u00a0<\/td>\n<\/tr>\n | \n(B) Dilutive share equivalents and options were excluded for the three and six months ended June\u00a030, 2021 and 2020 as their inclusion would have been anti-dilutive given our loss position.<\/td>\n<\/tr>\n<\/table>\n\n\n\nReconciliation of NOI to Net Income (unaudited)<\/b><\/td>\n<\/tr>\n\n(dollars in thousands)<\/b><\/td>\n<\/tr>\n\n | \nFor the Quarter Ended<\/b><\/td>\n<\/tr>\n\n | \nJune 30, 2021<\/b><\/td>\n<\/tr>\n\n| Total revenues<\/td>\n | \n \n$ 79,089\n<\/p>\n<\/td>\n<\/tr>\n | \n| Property operating expense<\/td>\n | \n \n(49,698)\n<\/p>\n<\/td>\n<\/tr>\n | \n| NOI<\/b><\/td>\n | \n 29,391<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\u00a0<\/td>\n<\/tr>\n | \n| Depreciation and amortization<\/td>\n | \n \n(15,586)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Interest expense<\/td>\n | \n \n(14,350)\n<\/p>\n<\/td>\n<\/tr>\n | \n| General and administrative expense<\/td>\n | \n \n(6,579)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Acquisition, transaction and integration expense<\/td>\n | \n \n(5,607)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other expense<\/td>\n | \n \n(205)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense<\/td>\n | \n \n(33)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net loss<\/td>\n | \n \n(12,969)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Deemed dividend on redeemable preferred stock<\/td>\n | \n \n(299)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net loss attributable to common stockholders<\/b><\/td>\n | \n $ (13,268)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\nReconciliation of Net Income to FFO, Normalized FFO, AFFO and Normalized FAD (unaudited)<\/b><\/td>\n<\/tr>\n\n(dollars and shares in thousands, except per share data)<\/b><\/td>\n<\/tr>\n\n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \nFor the Quarter Ended<\/b><\/td>\n<\/tr>\n\n | \n | \nJune 30, 2021<\/b><\/td>\n<\/tr>\n\n| Net loss attributable to common stockholders<\/b><\/td>\n | | \n\n $ (13,268)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Adjustments:<\/td>\n | | \n | <\/tr>\n \n| Depreciation and amortization<\/td>\n | | \n\n \n15,586\n<\/p>\n<\/td>\n<\/tr>\n | \n| FFO<\/b><\/td>\n | | \n\n $ 2,318<\/b><\/p>\n<\/td>\n<\/tr>\n\n| FFO per basic and diluted share<\/b><\/td>\n | | \n\n $ 0.03<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Acquisition, transaction and integration expense<\/td>\n | | \n\n \n5,607\n<\/p>\n<\/td>\n<\/tr>\n | \n| Compensation expense related to transition awards<\/td>\n | | \n\n \n301\n<\/p>\n<\/td>\n<\/tr>\n | \nOther expense(A)<\/sup><\/td>\n | \n\n \n205\n<\/p>\n<\/td>\n<\/tr>\n | \n| Normalized FFO<\/b><\/td>\n | | \n\n $ 8,431<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Normalized FFO per basic and diluted share<\/b><\/td>\n | | \n\n $ 0.10<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Straight-line rental revenue<\/td>\n | | \n\n \n(67)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of equity-based compensation<\/td>\n | | \n\n \n2,013\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of deferred financing costs<\/td>\n | | \n\n \n894\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of deferred community fees and other<\/td>\n | | \n\n \n4\n<\/p>\n<\/td>\n<\/tr>\n | \n| AFFO<\/b><\/td>\n | | \n\n $ 11,275<\/b><\/p>\n<\/td>\n<\/tr>\n\n| AFFO per basic and diluted share<\/b><\/td>\n | | \n\n $ 0.13<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Routine capital expenditures<\/td>\n | | \n\n \n(2,795)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Normalized FAD<\/b><\/td>\n | | \n\n $ 8,480<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Normalized FAD per basic and diluted share<\/b><\/td>\n | | \n\n $ 0.10<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Weighted average basic shares outstanding<\/td>\n | | \n\n \n83,653\n<\/p>\n<\/td>\n<\/tr>\n | \nWeighted average diluted shares outstanding(B)<\/sup><\/td>\n | \n\n \n86,761\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| (A) Primarily includes insurance recoveries and casualty related charges.<\/td>\n<\/tr>\n | \n(B) Diluted share amounts have been calculated using the treasury stock method.<\/td>\n<\/tr>\n<\/table>\n\n\n\nReconciliation of Year-over-Year Cash NOI (unaudited)<\/b><\/td>\n<\/tr>\n\n(dollars in thousands)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nFor the Quarter Ended<\/b><\/td>\n | | \nFor the Quarter Ended<\/b><\/td>\n<\/tr>\n\n | \nJune 30, 2021<\/b><\/td>\n | | \nJune 30, 2020<\/b><\/td>\n<\/tr>\n\n| Total Same Store Cash NOI<\/td>\n | \n \n$ 22,443\n<\/p>\n<\/td>\n | | \n\n \n$ 26,614\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-Same Store Cash NOI<\/td>\n | \n \n6,885\n<\/p>\n<\/td>\n | | \n\n \n8,619\n<\/p>\n<\/td>\n<\/tr>\n | \n| Straight-line rental revenue<\/td>\n | \n \n67\n<\/p>\n<\/td>\n | | \n\n \n108\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of deferred community fees and other<\/td>\n | \n \n(4)\n<\/p>\n<\/td>\n | | \n\n \n432\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total NOI<\/b><\/td>\n | \n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |