Healthpeak Q3 2023 Earnings Report
Key Takeaways
Healthpeak Properties reported third-quarter results, featuring a net income of $0.12 per share, Nareit FFO of $0.46 per share, FFO as Adjusted of $0.45 per share, and AFFO of $0.40 per share. The company experienced a blended Total Same-Store Portfolio Cash (Adjusted) NOI growth of 6.0%.
Net income was $0.12 per share.
Nareit FFO was $0.46 per share.
FFO as Adjusted was $0.45 per share.
Blended Total Same-Store Portfolio Cash (Adjusted) NOI growth was 6.0%.
Healthpeak
Healthpeak
Forward Guidance
Healthpeak updated its full year 2023 guidance, increasing the diluted earnings per common share to a range of $0.53 - $0.55 and the midpoint of 2023 FFO as Adjusted guidance by $0.02 per share. Total Portfolio Same-Store Cash (Adjusted) NOI growth guidance was also increased by 75 basis points at the midpoint.
Positive Outlook
- Diluted earnings per common share guidance increased to $0.53 – $0.55.
- Diluted Nareit FFO per share guidance increased to $1.76 – $1.78.
- Diluted FFO as Adjusted per share guidance increased to $1.76 – $1.78.
- Total Portfolio Same-Store Cash (Adjusted) NOI growth guidance increased to 4.25% – 5.25%.
- Estimates are based on existing market conditions, transaction timing, and other assumptions for the year ending December 31, 2023.
Challenges Ahead
- Estimates do not reflect the potential impact from unannounced future transactions.
- Guidance is subject to risks and uncertainties, including macroeconomic trends, tenant financial conditions, and regulatory changes.
- Illiquidity of real estate investments.
- Property development, redevelopment, and tenant improvement activity risks.
- Changes within the industries in which Healthpeak operates.