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Mar 31, 2024
Healthpeak Q1 2024 Earnings Report
Healthpeak reported financial results for Q1 2024 and declared a quarterly cash dividend on common stock.
Key Takeaways
Healthpeak Properties reported a net income of $0.01 per share, Nareit FFO of $0.27 per share, FFO as Adjusted of $0.45 per share, and AFFO of $0.41 per share. The company also saw a Total Merger-Combined Same-Store Cash (Adjusted) NOI growth of 4.5%.
New and renewal lease executions totaled 1.6 million square feet, including 1.4 million in Outpatient Medical and 155,000 in Lab space.
Full year 2024 diluted earnings guidance increased to $0.16 – $0.20 per share, with FFO as Adjusted and AFFO guidance also increased.
Year one merger-related synergy forecast increased by $5 million to $45 million.
Repurchased $100 million of common stock at an average price of $17.11 per share.
Forward Guidance
Healthpeak is updating the following guidance ranges for full year 2024: Diluted earnings per common share from $0.07 – $0.13 to $0.16 – $0.20; Diluted Nareit FFO per share from $1.54 – $1.60 to $1.56 – $1.60; Diluted FFO as Adjusted per share from $1.73 – $1.79 to $1.76 – $1.80; Diluted AFFO per share from $1.50 – $1.56 to $1.53 – $1.57; Total Merger-Combined Same-Store Cash (Adjusted) NOI growth from 2.25% – 3.75% to 2.50% – 4.00%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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