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Mar 31, 2023
Healthpeak Q1 2023 Earnings Report
Announced results for the first quarter ended March 31, 2023.
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.
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%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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