Latest news with #Healthpeak
Business Wire
05-08-2025
- Business
- Business Wire
Healthpeak Prices Offering of $500 Million of 4.750% Senior Unsecured Notes Due 2033
DENVER--(BUSINESS WIRE)--Healthpeak Properties, Inc. ('Healthpeak') (NYSE: DOC), a leading owner, operator, and developer of real estate for healthcare discovery and delivery, announced today that its operating company, Healthpeak OP, LLC (the 'operating company'), has priced a public offering of $500.0 million aggregate principal amount of 4.750% senior unsecured notes due 2033 (the 'notes'). The notes will be senior unsecured obligations of the operating company and will be fully and unconditionally guaranteed, on a joint and several basis, by Healthpeak, DOC DR Holdco, LLC and DOC DR, LLC. The price to investors was 99.178% of the principal amount of the notes. The estimated net proceeds of the offering are expected to be approximately $492.8 million, after deducting the underwriting discount but before deducting fees and expenses payable by the operating company. The operating company intends to use the net proceeds from the offering to repay borrowings outstanding under its commercial paper program and for general corporate purposes, which may include repaying or repurchasing other indebtedness, working capital, acquisitions, development and redevelopment activities, and capital expenditures. Pending application of the net proceeds from the offering for the foregoing purposes, such proceeds may initially be invested in short-term securities. The offering is expected to close on August 14, 2025, subject to the satisfaction of customary closing conditions. PNC Capital Markets LLC, J.P. Morgan Securities LLC, Credit Agricole Securities (USA) Inc., Truist Securities, Inc. and U.S. Bancorp Investments, Inc. are acting as joint book-running managers for the offering. The offering is being made pursuant to an effective shelf registration statement and prospectus and a related preliminary prospectus supplement filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the prospectus supplement and related prospectus for the offering, when available, can be obtained from: (i) PNC Capital Markets LLC, 300 Fifth Avenue, 10th Floor, Pittsburgh, PA 15222, by calling toll-free at 855-881-0697 or emailing pnccmprospectus@ (ii) J.P. Morgan Securities LLC by calling collect at 212-834-4533, (iii) Credit Agricole Securities (USA) Inc. by calling toll-free at 866-807-6030 or emailing DCMNewYork@ (iv) Truist Securities, Inc. by calling toll-free at 800-685-4786 or emailing and (v) U.S. Bancorp Investments, Inc. by calling toll-free at 877-558-2607. About Healthpeak Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery. Forward-looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified by their use of terms and phrases such as 'believe,' 'expect,' 'intend,' 'will,' 'project,' 'anticipate,' 'position,' and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include our ability to complete the offering in a timely fashion or at all, that the proceeds from the offering may not be deployed as anticipated; and those risks and uncertainties associated with Healthpeak's business described in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and its subsequent filings with the Securities and Exchange Commission. Although Healthpeak believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, Healthpeak can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date of this release, and Healthpeak undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in its expectations, except as required by law.
Yahoo
25-07-2025
- Business
- Yahoo
Healthpeak Q2 FFO Meets Estimates, Same-Store NOI Rises Y/Y
Healthpeak Properties, Inc. DOC reported second-quarter 2025 funds from operations ('FFO') as adjusted per share of 46 cents, meeting the Zacks Consensus Estimate. The metric was 45 cents per share in the prior-year quarter. Results reflect lower-than-expected revenues. Growth in total merger-combined same-store cash (adjusted) net operating income ('NOI') was witnessed across the portfolio. However, higher interest expenses affected the results to some extent. This healthcare real estate investment trust ('REIT') generated revenues of $694.3 million, marginally missing the Zacks Consensus Estimate of $694.6 million. The figure also slightly declined year over year. Behind DOC's Earnings Headlines In the second quarter, Healthpeak reported 3.5% year-over-year growth in the total merger-combined same-store cash (adjusted) NOI. DOC witnessed 3.9% and 1.5% year-over-year growth in the total merger-combined same-store cash (adjusted) NOI for its outpatient medical and lab segments, respectively. The CCRC segment reported growth of 8.6%. During the reported quarter, Healthpeak executed new and renewal leases totaling 503,000 square feet, with retention at 87% and positive 6% cash-releasing spreads on renewals in the lab portfolio. For the outpatient medical portfolio, new and renewal leases aggregated 1 million square feet, with retention at 85% and positive 6% cash-releasing spreads on renewals. However, interest expenses marginally jumped year over year to $75.1 million. DOC's Balance Sheet Healthpeak exited the second quarter with cash and cash equivalents of $89.4 million, up from $70.6 million as of March 31, 2025. Its net debt to adjusted EBITDAre was 5.2X as of June 30, 2025. In June 2025, Healthpeak repaid $452 million as 4% senior notes at maturity. DOC's 2025 Outlook Healthpeak has reaffirmed its previous guidance. The company expects its 2025 FFO as adjusted per share to be between $1.81 and $1.87. The Zacks Consensus Estimate is presently pegged at $1.85 per share, which is within expectations. The total merger-combined same-store cash (adjusted) NOI growth is estimated to be in the range of 3-4%. Healthpeak currently carries a Zacks Rank #4 (Sell). Healthpeak Properties, Inc. Price, Consensus and EPS Surprise Healthpeak Properties, Inc. price-consensus-eps-surprise-chart | Healthpeak Properties, Inc. Quote Upcoming Earnings Releases We now look forward to the earnings releases of other healthcare REITs, such as Welltower, Inc. WELL and Ventas, Inc. VTR, slated to report on July 28 and July 30, respectively. The Zacks Consensus Estimate for Welltower's second-quarter 2025 FFO per share is pegged at $1.22, implying a 16.2% year-over-year increase. WELL currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate for Ventas' second-quarter 2025 FFO per share is pinned at 85 cents, indicating a 6.3% rise year over year. VTR currently has a Zacks Rank #3. Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ventas, Inc. (VTR) : Free Stock Analysis Report Healthpeak Properties, Inc. (DOC) : Free Stock Analysis Report Welltower Inc. (WELL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
25-07-2025
- Business
- Yahoo
Healthpeak (DOC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Healthpeak (DOC) reported $694.35 million in revenue for the quarter ended June 2025, representing a year-over-year decline of 0.2%. EPS of $0.46 for the same period compares to $0.21 a year ago. The reported revenue represents a surprise of -0.03% over the Zacks Consensus Estimate of $694.58 million. With the consensus EPS estimate being $0.46, the company has not delivered EPS surprise. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Healthpeak performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Revenues- Interest income and other: $15.81 million versus the three-analyst average estimate of $15.85 million. The reported number represents a year-over-year change of +101.8%. Revenues- Rental and related revenues: $529.69 million versus the two-analyst average estimate of $538.95 million. The reported number represents a year-over-year change of -3.1%. Revenues- Resident fees and services: $148.86 million versus the two-analyst average estimate of $150.98 million. The reported number represents a year-over-year change of +5.7%. Net Earnings per Share (Diluted): $0.05 compared to the $0.07 average estimate based on four analysts. View all Key Company Metrics for Healthpeak here>>> Shares of Healthpeak have returned +10.1% over the past month versus the Zacks S&P 500 composite's +5.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Healthpeak Properties, Inc. (DOC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Business Wire
24-07-2025
- Business
- Business Wire
Healthpeak Properties Reports Second Quarter 2025 Results
DENVER--(BUSINESS WIRE)--Healthpeak Properties, Inc. (NYSE: DOC), a leading owner, operator, and developer of real estate for healthcare discovery and delivery, today announced results for the quarter ended June 30, 2025. SECOND QUARTER 2025 FINANCIAL PERFORMANCE AND RECENT HIGHLIGHTS Net income of $0.05 per share, Nareit FFO of $0.43 per share, FFO as Adjusted of $0.46 per share, AFFO of $0.44 per share, and Total Merger-Combined Same-Store Cash (Adjusted) NOI growth of 3.5% On July 7, 2025, declared a monthly common stock cash dividend of $0.10167 per share for each of July, August, and September, of 2025 representing cash dividends totaling $0.305 per share for the third quarter, and an annualized dividend amount of $1.22 per share Second quarter new and renewal lease executions totaled 1.5 million square feet: Outpatient medical new and renewal lease executions totaled 1 million square feet, with 85% retention and +6% cash releasing spreads on renewals Subsequent to the second quarter and through July 24, 2025, executed 419,000 square feet of Outpatient medical leases with signed letters of intent on an additional 682,000 square feet Lab new and renewal lease executions totaled 503,000 square feet, with 87% retention and +6% cash releasing spreads on renewals Subsequent to the second quarter and through July 24, 2025, executed 55,000 square feet of Lab leases with signed letters of intent on an additional 253,000 square feet During the second quarter, entered into two new development agreements with a combined projected cost of $148 million to support Northside Hospital's continued outpatient expansion in the Atlanta market Sold one outpatient medical land parcel in June 2025 and two outpatient medical buildings in July 2025 for combined proceeds of approximately $35 million Balance Sheet Net Debt to Adjusted EBITDAre was 5.2x for the quarter ended June 30, 2025 As of July 24, 2025, Healthpeak had approximately $2.3 billion in available liquidity through a combination of unrestricted cash and availability under its revolving credit facility Launched a redesigned corporate website at to elevate visibility into Healthpeak's competitive advantage and core values Earned 2025 BOMA Mid Atlantic region TOBY Awards for 833 Chestnut Street (medical category) and Cambridge Discovery Park (life science category); TOBY (The Outstanding Building of the Year) Awards are among the most prestigious recognitions in commercial real estate, honoring commercial building management and operations excellence Recent corporate impact and sustainability achievements include: Published a standalone 2024 Environmental Data Report, marking our 14 th consecutive year of environmental performance transparency and reporting Awarded the Green Lease Leader Platinum designation by the Institute for Market Transformation and the Department of Energy Better Buildings Alliance Earned LEED Gold certifications for sustainable building design and construction at Callan Ridge in Torrey Pines, California, and 460 Forbes on the Vantage campus in South San Francisco, California, bringing Healthpeak's total LEED-certified square footage to 6.7 million as of June 30, 2025 Named a constituent of the FTSE4Good Index Series for the 14 th consecutive year To learn more about Healthpeak's commitment to responsible business and view our most recent Corporate Impact Report, please visit YEAR TO DATE COMPARISON Nareit FFO, FFO as Adjusted, AFFO, Total Merger-Combined Same-Store Cash (Adjusted) NOI, and Net Debt to Adjusted EBITDAre are supplemental non-GAAP financial measures that we believe are useful in evaluating the operating performance and financial position of real estate investment trusts (see the "Funds From Operations" and "Adjusted Funds From Operations" sections of this release for additional information). See "June 30, 2025 Discussion and Reconciliation of Non-GAAP Financial Measures" for definitions, discussions of their uses and inherent limitations, and reconciliations to the most directly comparable financial measures calculated and presented in accordance with GAAP in the Investor Relations section of our website at The table below outlines the year-over-year three-month and year-to-date total Merger-Combined SS Cash (Adjusted) NOI growth. DIVIDEND On July 7, 2025, Healthpeak's Board of Directors declared a monthly common stock cash dividend of $0.10167 per share for each of July, August, and September, of 2025 representing cash dividends totaling $0.305 per share for the third quarter, and an annualized dividend amount of $1.22 per share. The dividend is payable on the payment dates set forth in the table below to stockholders of record as of the close of business on the corresponding record date. Record Date Payment Date Amount July 18, 2025 July 31, 2025 $0.10167 per common share August 18, 2025 August 29, 2025 $0.10167 per common share September 19, 2025 September 30, 2025 $0.10167 per common share Expand NORTHSIDE OUTPATIENT MEDICAL DEVELOPMENTS During the second quarter of 2025, Healthpeak entered into two new outpatient development agreements in high-growth submarkets of Atlanta totaling $148 million to support the expansion of our longstanding partner, Northside Hospital. Affiliates of Northside have pre-leased 78% of each building for a range of clinical services, reflecting the system's continued investment in outpatient capacity across two premier campuses. Physician tenants will have the ability to co-invest in the buildings. Upon stabilization, Healthpeak expects to achieve cash yields in the mid-7% range. Northside Forsyth: $82 million, 118,000 square foot Class A outpatient medical building and accompanying parking deck located on the campus of Northside Hospital Forsyth, a 389-bed acute care hospital located in Cumming, Georgia, a northeastern suburb of Atlanta. Northside Cherokee: $66 million, 148,000 square foot Class A outpatient medical building located on the campus of Northside Hospital Cherokee, a 332-bed acute care hospital in Canton, Georgia, a northern suburb of Atlanta. SHARE REPURCHASE ACTIVITY As previously disclosed, in April 2025, Healthpeak repurchased 3.9 million shares at a weighted average share price of $18.22, totaling $72 million. As of July 24, 2025, approximately $406 million remained available for share repurchases under the program. BALANCE SHEET In June 2025, Healthpeak repaid $452 million 4.0% senior notes at maturity. As of July 24, 2025, Healthpeak had approximately $2.3 billion in available liquidity through a combination of unrestricted cash and its revolving credit facility. 2025 GUIDANCE We are reaffirming the following guidance ranges for full year 2025: Diluted FFO as Adjusted per share of $1.81 – $1.87 Total Merger-Combined Same-Store Cash (Adjusted) NOI growth of 3.0% – 4.0% We are updating the following guidance ranges for full year 2025: Diluted earnings per common share from $0.30 – $0.36 to $0.25 – $0.31 Diluted Nareit FFO per share from $1.81 – $1.87 to $1.78 – $1.84 These estimates are based on our current view of existing market conditions, transaction timing, and other assumptions for the year ending December 31, 2025. For additional details and assumptions, please see page 12 in our corresponding Supplemental Report and the Discussion and Reconciliation of Non-GAAP Financial Measures, both of which are available in the Investor Relations section of our website at CONFERENCE CALL INFORMATION Healthpeak has scheduled a conference call and webcast for Friday, July 25, 2025, at 8:00 a.m. Mountain Time. The conference call can be accessed in the following ways: An archive of the webcast will be available on Healthpeak's website through July 24, 2026, and a telephonic replay can be accessed through August 1, 2025, by dialing (800) 770-2030 and entering conference ID number 95156. ABOUT HEALTHPEAK Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery. FORWARD-LOOKING STATEMENTS Statements contained in this release that are not historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among other things, statements regarding our and our officers' intent, belief or expectation as identified by the use of words such as "may," "will," "project," "expect," "believe," "intend," "anticipate," "seek," "target," "forecast," "plan," "potential," "estimate," "could," "would," "should" and other comparable and derivative terms or the negatives thereof. Examples of forward-looking statements include, among other things: (i) statements regarding timing, outcomes and other details relating to current, pending or contemplated acquisitions, dispositions, developments, redevelopments, joint venture transactions, leasing activity and commitments, financing activities, or other transactions discussed in this release; (ii) the payment of a quarterly cash dividend; and (iii) the information presented under the heading "2025 Guidance Information." Pending acquisitions, dispositions, joint venture transactions, leasing activity, and financing activity, including those subject to binding agreements, remain subject to closing conditions and may not be completed within the anticipated timeframes or at all. Forward-looking statements reflect our current expectations and views about future events and are subject to risks and uncertainties that could significantly affect our future financial condition and results of operations. While forward-looking statements reflect our good faith belief and assumptions we believe to be reasonable based upon current information, we can give no assurance that our expectations or forecasts will be attained. Further, we cannot guarantee the accuracy of any such forward-looking statement contained in this release, and such forward-looking statements are subject to known and unknown risks and uncertainties that are difficult to predict. These risks and uncertainties include, but are not limited to: macroeconomic trends that may increase construction, labor and other operating costs; changes within the life science industry; significant regulation, funding requirements, and uncertainty faced by our lab tenants; factors adversely affecting our tenants', operators', or borrowers' ability to meet their financial and other contractual obligations to us; the insolvency or bankruptcy of one or more of our major tenants, operators, or borrowers; our concentration of real estate investments in the healthcare property sector, which makes us more vulnerable to a downturn in that specific sector than if we invested across multiple sectors; the illiquidity of real estate investments; our ability to identify and secure new or replacement tenants and operators; our property development, redevelopment, and tenant improvement risks, which can render a project less profitable or unprofitable and delay or prevent its undertaking or completion; the ability of the hospitals on whose campuses our outpatient medical buildings are located and their affiliated healthcare systems to remain competitive or financially viable; our ability to develop, maintain, or expand hospital and health system client relationships; operational risks associated with our senior housing properties managed by third parties, including our properties operated through structures permitted by the Housing and Economic Recovery Act of 2008, which includes most of the provisions previously proposed in the REIT Investment Diversification and Empowerment Act of 2007 (commonly referred to as 'RIDEA'); economic conditions, natural disasters, weather, and other conditions that negatively affect geographic areas where we have concentrated investments; uninsured or underinsured losses, which could result in a significant loss of capital invested in a property, lower than expected future revenues, and unanticipated expenses; our use of joint ventures may limit our returns on and our flexibility with jointly owned investments; our use of rent escalators or contingent rent provisions in our leases; competition for suitable healthcare properties to grow our investment portfolio; our ability to exercise rights on collateral securing our real estate-related loans; any requirement that we recognize reserves, allowances, credit losses, or impairment charges; investment of substantial resources and time in transactions that are not consummated; our ability to successfully integrate or operate acquisitions or internalize property management; the potential impact of unfavorable resolution of litigation or disputes and resulting rising liability and insurance costs; environmental compliance costs and liabilities associated with our real estate investments; our ability to satisfy environmental, social and governance and sustainability commitments and requirements, as well as stakeholder expectations; epidemics, pandemics, or other infectious diseases, including the coronavirus disease (Covid), and health and safety measures intended to reduce their spread; human capital risks, including the loss or limited availability of our key personnel; our reliance on information technology and any material failure, inadequacy, interruption, or security failure of that technology; the use of, or inability to use, artificial intelligence by us, our tenants, our vendors, and our investors; volatility, disruption, or uncertainty in the financial markets; increased borrowing costs, which could impact our ability to refinance existing debt, sell properties, and conduct investment activities; cash available for distribution to stockholders and our ability to make dividend distributions at expected levels; the availability of external capital on acceptable terms or at all; an increase in our level of indebtedness; covenants in our debt instruments, which may limit our operational flexibility, and breaches of these covenants; volatility in the market price and trading volume of our common stock; adverse changes in our credit ratings; the failure of our tenants, operators, and borrowers to comply with federal, state, and local laws and regulations, including resident health and safety requirements, as well as licensure, certification, and inspection requirements; required regulatory approvals to transfer our senior housing properties; compliance with the Americans with Disabilities Act and fire, safety, and other regulations; laws or regulations prohibiting eviction of our tenants; the requirements of, or changes to, governmental reimbursement programs such as Medicare or Medicaid; legislation to address federal government operations and administrative decisions affecting the Centers for Medicare and Medicaid Services; our participation in the Coronavirus, Aid, Relief and Economic Security Act Provider Relief Fund and other Covid-related stimulus and relief programs; changes in federal, state, or local laws or regulations that may limit our opportunities to participate in the ownership of, or investment in, healthcare real estate; our ability to successfully integrate our operations with Physicians Realty Trust and realize the anticipated synergies of our merger with Physicians Realty Trust and benefits of property management internalization; our ability to maintain our qualification as a real estate investment trust ('REIT'); our taxable REIT subsidiaries being subject to corporate level tax; tax imposed on any net income from 'prohibited transactions'; changes to U.S. federal income tax laws, and potential deferred and contingent tax liabilities from corporate acquisitions; calculating non-REIT tax earnings and profits distributions; tax protection agreements that may limit our ability to dispose of certain properties and may require us to maintain certain debt levels; ownership limits in our charter that restrict ownership in our stock; provisions of Maryland law and our charter that could prevent a transaction that may otherwise be in the interest of our stockholders; conflicts of interest between the interests of our stockholders and the interests of holders of Healthpeak OP, LLC ('Healthpeak OP') common units; provisions in the operating agreement of Healthpeak OP and other agreements that may delay or prevent unsolicited acquisitions and other transactions; our status as a holding company of Healthpeak OP; and other risks and uncertainties described from time to time in our Securities and Exchange Commission filings. Moreover, other risks and uncertainties of which we are not currently aware may also affect our forward-looking statements, and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by us on our website or otherwise. We do not undertake any obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made. Healthpeak Properties, Inc. Consolidated Statements of Operations In thousands, except per share data Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenues: Rental and related revenues $ 529,687 $ 546,781 $ 1,067,828 $ 1,008,814 Resident fees and services 148,855 140,891 297,782 279,667 Interest income and other 15,806 7,832 31,627 13,583 Total revenues 694,348 695,504 1,397,237 1,302,064 Costs and expenses: Interest expense 75,063 74,910 147,756 135,817 Depreciation and amortization 265,916 283,498 534,462 502,717 Operating 276,181 273,827 549,324 517,556 General and administrative 20,764 26,718 46,882 50,017 Transaction and merger-related costs 10,215 7,759 15,749 114,979 Impairments and loan loss reserves (recoveries), net 3,499 (553 ) (63 ) 10,905 Total costs and expenses 651,638 666,159 1,294,110 1,331,991 Other income (expense): Gain (loss) on sales of real estate, net 1,636 122,044 1,636 125,299 Other income (expense), net (4,692 ) 4,004 (10,818 ) 82,520 Total other income (expense), net (3,056 ) 126,048 (9,182 ) 207,819 Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 39,654 155,393 93,945 177,892 Income tax benefit (expense) (2,382 ) (2,728 ) (4,462 ) (16,426 ) Equity income (loss) from unconsolidated joint ventures 1,747 51 (400 ) 2,427 Net income (loss) 39,019 152,716 89,083 163,893 Noncontrolling interests' share in earnings (7,346 ) (6,669 ) (14,582 ) (11,170 ) Net income (loss) attributable to Healthpeak Properties, Inc. 31,673 146,047 74,501 152,723 Participating securities' share in earnings (115 ) (214 ) (579 ) (414 ) Net income (loss) applicable to common shares $ 31,558 $ 145,833 $ 73,922 $ 152,309 Earnings (loss) per common share: Basic $ 0.05 $ 0.21 $ 0.11 $ 0.23 Diluted $ 0.05 $ 0.21 $ 0.11 $ 0.23 Weighted average shares outstanding: Basic 695,188 702,382 697,117 651,642 Diluted 695,194 703,268 697,146 652,113 Expand Healthpeak Properties, Inc. Funds From Operations In thousands, except per share data Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) applicable to common shares $ 31,558 $ 145,833 $ 73,922 $ 152,309 Real estate related depreciation and amortization 265,916 283,498 534,462 502,717 Healthpeak's share of real estate related depreciation and amortization from unconsolidated joint ventures 12,530 11,621 24,730 20,393 Noncontrolling interests' share of real estate related depreciation and amortization (4,426 ) (4,732 ) (8,879 ) (9,174 ) Loss (gain) on sales of depreciable real estate, net (1,636 ) (122,044 ) (1,636 ) (125,299 ) Loss (gain) upon change of control, net (1) — (198 ) — (77,978 ) Taxes associated with real estate dispositions (2) (335 ) 49 (335 ) 11,657 Nareit FFO applicable to common shares 303,607 314,027 622,264 474,625 Distributions on dilutive convertible units and other 4,560 4,583 9,183 5,281 Diluted Nareit FFO applicable to common shares $ 308,167 $ 318,610 $ 631,447 $ 479,906 Diluted Nareit FFO per common share $ 0.43 $ 0.44 $ 0.89 $ 0.72 Weighted average shares outstanding - Diluted Nareit FFO 709,839 717,797 711,828 661,999 Impact of adjustments to Nareit FFO: Transaction and merger-related items (3) $ 10,215 $ 3,369 $ 15,749 $ 106,198 Other impairments (recoveries) and other losses (gains), net (4) 3,499 (553 ) 179 11,300 Casualty-related charges (recoveries), net (5) 3,919 (1,204 ) 8,145 (1,204 ) Total adjustments 17,633 1,612 24,073 116,294 FFO as Adjusted applicable to common shares 321,240 315,639 646,337 590,919 Distributions on dilutive convertible units and other 4,545 4,581 9,161 6,960 Diluted FFO as Adjusted applicable to common shares $ 325,785 $ 320,220 $ 655,498 $ 597,879 Diluted FFO as Adjusted per common share $ 0.46 $ 0.45 $ 0.92 $ 0.90 Weighted average shares outstanding - Diluted FFO as Adjusted 709,839 717,797 711,828 664,325 Expand _______________________________________ (1) The six months ended June 30, 2024 includes a gain upon change of control related to the sale of a 65% interest in two lab buildings in San Diego, California. The gain upon change of control is included in other income (expense), net in the Consolidated Statements of Operations. (2) The six months ended June 30, 2024 includes non-cash income tax expense related to the sale of a 65% interest in two lab buildings in San Diego, California. (3) The three and six months ended June 30, 2025 and 2024 includes costs related to the merger, which are primarily comprised of advisory, legal, accounting, tax, information technology, post-combination severance and stock compensation expense, and other costs of combining operations with Physicians Realty Trust that were incurred during the period. The three and six months ended June 30, 2025 also includes $6 million of costs incurred related to investments we are no longer pursuing. For the three and six months ended June 30, 2024, these costs were partially offset by termination fee income of $4 million and $9 million, respectively, associated with Graphite Bio, Inc., which later merged with LENZ Therapeutics, Inc. in March 2024, for which the lease terms were modified to accelerate expiration of the lease to December 2024. This termination fee income is included in rental and related revenues on the Consolidated Statements of Operations, but is excluded from Portfolio Cash Real Estate Revenues and FFO as Adjusted. (4) The three and six months ended June 30, 2025 and 2024 include reserves and (recoveries) for expected loan losses recognized in impairments and loan loss reserves (recoveries), net in the Consolidated Statements of Operations. (5) Casualty-related charges (recoveries), net are recognized in other income (expense), net, equity income (loss) from unconsolidated joint ventures, and noncontrolling interests' share in earnings in the Consolidated Statements of Operations. Expand Healthpeak Properties, Inc. Adjusted Funds From Operations In thousands, except per share data Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 FFO as Adjusted applicable to common shares $ 321,240 $ 315,639 $ 646,337 $ 590,919 Stock-based compensation amortization expense 1,738 4,814 6,365 8,180 Amortization of deferred financing costs and debt discounts (premiums) 7,875 7,317 15,727 11,840 Straight-line rents (5,401 ) (10,453 ) (16,554 ) (22,545 ) AFFO capital expenditures (25,729 ) (35,718 ) (48,864 ) (53,235 ) CCRC entrance fees (1) 19,042 12,117 23,739 19,502 Deferred income taxes 2,597 1,021 5,168 1,745 Amortization of above (below) market lease intangibles, net (10,085 ) (8,086 ) (20,296 ) (15,437 ) Other AFFO adjustments (1,069 ) (2,169 ) 381 (3,667 ) AFFO applicable to common shares 310,208 284,482 612,003 537,302 Distributions on dilutive convertible units and other 4,560 4,582 9,182 6,799 Diluted AFFO applicable to common shares (1) $ 314,768 $ 289,064 $ 621,185 $ 544,101 Diluted AFFO per common share (1) $ 0.44 $ 0.40 $ 0.87 $ 0.82 Weighted average shares outstanding - Diluted AFFO 709,839 717,797 711,828 663,975 Expand _______________________________________ (1) During the first quarter of 2025, we changed our definition of AFFO to adjust for the non-refundable entrance fees collected in excess of the related amortization as we believe the cash collection of these fees is a more meaningful representation of the performance of CCRCs in the determination of AFFO. Utilizing the prior definition for the three months ended June 30, 2025 and 2024, diluted AFFO applicable to common shares was $295.7 million and $276.9 million, respectively, and diluted AFFO per common share was $0.42 and $0.39, respectively. Utilizing the prior definition for the six months ended June 30, 2025 and 2024, diluted AFFO applicable to common shares was $597.4 million and $524.6 million, respectively, and diluted AFFO per common share was $0.84 and $0.79, respectively. Expand
Yahoo
07-07-2025
- Business
- Yahoo
Healthpeak Properties Declares Monthly Common Stock Cash Dividends for the Third Quarter of 2025
DENVER, July 07, 2025--(BUSINESS WIRE)--Healthpeak Properties, Inc. (NYSE: DOC), a leading owner, operator, and developer of real estate for healthcare discovery and delivery, announced that on July 7, 2025, its Board of Directors declared a monthly common stock cash dividend of $0.10167 per share for the third quarter of 2025, payable on the payment dates set forth in the table below to stockholders of record as of the close of business on the corresponding record date in the table below. The monthly dividend reflects a quarterly dividend amount of $0.305 per share of common stock, and an annualized dividend amount of $1.22 per share of common stock. Record Date Payment Date Amount July 18, 2025 July 31, 2025 $0.10167 per common share August 18, 2025 August 29, 2025 $0.10167 per common share September 19, 2025 September 30, 2025 $0.10167 per common share ABOUT HEALTHPEAK PROPERTIES Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates, and develops high-quality real estate for healthcare discovery and delivery. For more information regarding Healthpeak, visit View source version on Contacts Andrew Johns, CFASenior Vice President – Finance and Investor Relations720-428-5050 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
