Senior housing-focused REIT Five Star Quality Care, of Newton, reported a modest 3.4 percent bump in year-over-year, second quarter net income, largely on the back of a bump in senior living average daily rates.
Second quarter net income rose to $312.6 million from $302.3 million in the second quarter of 2010. Senior living average daily rates increased 2.9 percent to $150.73, from $146.54.
The company said total revenues for the six months ended June 30 increased 3.3 percent to $620.9 million from $601.2 million for the same period in the previous year.
