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Mar 31
Healthpeak Q1 2025 Earnings Report
Healthpeak reported steady revenue growth and solid leasing momentum in the first quarter of 2025.
Key Takeaways
Healthpeak delivered a strong Q1 2025 with increased EPS, net income, and consistent leasing performance across outpatient medical and lab spaces. The company also secured a major development partnership and maintained healthy liquidity.
Achieved net income of $42,364,000 with EPS of $0.06 and adjusted EPS of $0.46.
Executed 1.2 million sq. ft. of new and renewal leases, including 973,000 sq. ft. in outpatient medical.
Formed a strategic partnership with Hines for a major mixed-use project in Cambridge, MA.
Maintained $2.8 billion in available liquidity and issued $500 million in senior unsecured notes.
Healthpeak
Healthpeak
Healthpeak Revenue by Segment
Healthpeak Revenue by Geographic Location
Revenue by Segment
Rental & related Revenue
CapyFin.comResident fees & services Revenue
CapyFin.comInterest income Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
Healthpeak reaffirmed its 2025 guidance, maintaining expectations for earnings, NOI growth, and strategic development initiatives.
Positive Outlook
- Diluted Nareit FFO guidance of $1.81–$1.87 per share
- FFO as Adjusted also forecasted at $1.81–$1.87
- Expected NOI growth of 3.0%–4.0%
- Strong leasing activity and pipeline support confidence
- Liquidity of $2.8 billion supports ongoing investments
Challenges Ahead
- Exposure to macroeconomic risks affecting healthcare sector
- Continued merger-related integration costs
- High share repurchase activity reduces capital flexibility
- Potential construction and entitlement delays in Cambridge Point project
- Dependence on performance of third-party managed senior housing