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Healthpeak Properties Inc
F:HC5

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Healthpeak Properties Inc
F:HC5
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Price: 14.1 EUR 0.71% Market Closed
Market Cap: €9.9B

Healthpeak Properties Inc
Investor Relations

Healthpeak Properties Inc. stands as a testament to strategic healthcare real estate investing. Originally founded in 1985, this real estate investment trust (REIT) has intricately woven its operations into the fabric of the American healthcare landscape. With an astute focus on three primary segments—life science, medical office, and senior housing—Healthpeak has carved a niche as a powerhouse, aligning its portfolio with national healthcare trends. Life science assets often see collaborations with research institutions and biotech firms, while its medical office properties support outpatient services across the country. Within senior housing, Healthpeak addresses the growing demand from an aging population, choosing investments that reflect both demographic shifts and the evolution of senior care solutions.

The company’s revenue streams are as diversified as its portfolio, which notably reduces risk while maximizing revenue potential. As a REIT, Healthpeak primarily derives income from leasing space within its properties to healthcare operators and providers. This model benefits from stable, long-term lease agreements that often feature built-in rent escalators, providing predictable cash flows. Additionally, Healthpeak frequently engages in selective development and redevelopment initiatives, bolstered by its in-depth industry research. This strategy not only enhances the value of its existing assets but also positions the company to capture future growth opportunities. By leveraging these comprehensive strategies, Healthpeak Properties not only sustains its financial health but fortifies its position as a leader in healthcare real estate.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Feb 3, 2026
AI Summary
Q4 2025

2025 Results: Healthpeak finished 2025 with earnings in line with original guidance, supported by strong outpatient medical and senior housing performance.

Lab Headwinds: Life science (lab) segment saw occupancy drop, pulling down earnings, but management sees early signs of recovery and expects occupancy to improve in 2026.

Outpatient Strength: Outpatient medical segment benefited from sector tailwinds and the Physicians Realty Trust merger, delivering record new leasing and strong asset sale prices.

Senior Housing IPO: Healthpeak will spin out all senior housing assets into Janus Living via a planned IPO, aiming for a higher multiple and future growth participation.

2026 Guidance: FFO guidance set at $1.70–$1.74 per share, with total same-store NOI growth ranging from down 1% to up 1%, reflecting lab challenges and strong outpatient/senior housing.

Transaction Activity: Over $464 million in acquisitions so far in 2026, including full ownership of 19 senior housing communities and the Gateway lab campus.

Capital Recycling: Plans for $1 billion or more in asset sales and recapitalizations in 2026 to fund growth and acquisitions.

Balance Sheet: Ended 2025 with 5.2x net debt to EBITDA and $2.4 billion in liquidity, with $1.1 billion in refinancing scheduled for 2026.

Key Financials
FFO as Adjusted (Q4 2025)
$0.47 per share
AFFO (Q4 2025)
$0.40 per share
Total Portfolio Same-Store Cash NOI Growth (Q4 2025)
3.9%
FFO as Adjusted (Full Year 2025)
$1.84 per share
AFFO (Full Year 2025)
$1.69 per share
Total Same-Store Cash NOI Growth (Full Year 2025)
4%
Outpatient Medical Same-Store Growth (Full Year 2025)
3.9%
Outpatient Medical Leasing (Full Year 2025)
4.9 million sq ft (including 1 million sq ft new leasing)
Outpatient Medical Cash Re-leasing Spreads
5% on renewals
Outpatient Medical Tenant Retention
79%
Outpatient Medical Total Occupancy
91%
Lab Same-Store Growth (Full Year 2025)
1.5%
Lab Total Occupancy (End of 2025)
77%
Lab Leasing (Full Year 2025)
1.5 million sq ft (including 562,000 sq ft new leasing)
Lab Cash Re-leasing Spreads
5% on renewals
Senior Housing Same-Store Growth (Full Year 2025)
12.6%
Senior Housing Same-Store Growth (Q4 2025)
16.7%
Net Debt to Adjusted EBITDA (End of 2025)
5.2x
Liquidity (End of 2025)
$2.4 billion
Acquisitions Completed So Far in 2026
$464 million
Senior Housing Portfolio Buyout
$314 million for 46.5% interest in 3,400 units
Additional Senior Housing Investments Under LOI/Purchase Agreement
$360 million
Asset Sales (Q4 2025 Outpatient)
$325 million at low 6% cap rate
Refinancing Activity (2026)
$1.1 billion
CapEx Plan (2026)
Just over $500 million
Other Earnings Calls

Management

Mr. Scott M. Brinker
President, CEO & Director
No Bio Available
Mr. Scott R. Bohn
Chief Development Officer & Head of Lab
No Bio Available
Mr. Adam G. Mabry
Chief Investment Officer
No Bio Available
Mr. Shawn G. Johnston
Executive VP & Chief Accounting Officer
No Bio Available
Mr. Andrew Johns CFA
Senior Vice President of Investor Relations
No Bio Available
Mr. Jeffrey H. Miller
General Counsel
No Bio Available
Ms. Lisa A. Alonso
Executive VP & Chief Human Resources Officer
No Bio Available
Mr. James A. Croy
Senior Vice President of Leasing - Outpatient Medical
No Bio Available
Mr. Antonio Acevedo
Senior Vice President of Asset Management - Outpatient Medical
No Bio Available
Mr. Jameson J. Bennett
Senior Vice President of Outpatient Medical Finance
No Bio Available

Contacts

Address
COLORADO
Denver
5050 South Syracuse Street, Suite 800
Contacts
+19494070700.0
www.healthpeak.com