Healthpeak Q1 2020 Earnings Report

Healthpeak's financial performance was detailed for Q1 2020, highlighting net income, NAREIT FFO, FFO as Adjusted, and same-store portfolio cash NOI growth.

Key Takeaways

Healthpeak Properties reported a net income of $0.54 per share, NAREIT FFO of $0.34 per share, and FFO as Adjusted of $0.45 per share for the first quarter of 2020. The blended Total Same-Store Portfolio Cash NOI growth was 2.0%.

Settled remaining outstanding equity forward contracts for proceeds of approximately $1.06 billion in March 2020.

Total liquidity as of April 30 reached $3.0 billion with full availability on Healthpeak’s $2.5 billion revolving credit facility.

Closed on transactions with Brookdale Senior Living in January 2020, including the acquisition of Brookdale's 51% interest in 13 CCRCs for $641 million and the sale of the 18-property triple-net portfolio for $405 million.

Delivered Phase IV of The Cove, representing 164,000 square feet that is 100% leased.

Total SS Cash NOI growth

Outpatient Medical SS NOI growth

Lab SS NOI growth