Healthpeak Q1 2023 Earnings Report
Key Takeaways
Healthpeak Properties reported first quarter results, including net income of $0.22 per share, Nareit FFO of $0.42 per share, FFO as Adjusted of $0.42 per share, and AFFO of $0.38 per share. The company also reported a blended Total Same-Store Portfolio Cash (Adjusted) NOI growth of 5.5%.
Net income of $0.22 per share, Nareit FFO of $0.42 per share, FFO as Adjusted of $0.42 per share, AFFO of $0.38 per share, and blended Total Same-Store Portfolio Cash (Adjusted) NOI growth of 5.5%.
Life Science and MOB Same-Store Portfolio Cash (Adjusted) NOI growth of 6.3% and 3.7%, respectively.
First quarter life science new and renewal lease executions totaled 311,000 square feet, with +55% cash releasing spreads on renewals.
Net debt to Adjusted EBITDAre was 5.4x as of March 31, 2023.
Healthpeak
Healthpeak
Healthpeak Revenue by Segment
Forward Guidance
Reaffirmed guidance ranges for full year 2023: Diluted earnings per common share of $0.52 – $0.58, Diluted Nareit FFO share of $1.70 – $1.76, Diluted FFO as Adjusted per share of $1.70 – $1.76. Updated guidance range for full year 2023: Total Portfolio Same-Store Cash (Adjusted) NOI growth from 2.75% – 4.25% to 3.00% – 4.50%.