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Sep 30, 2024
Healthpeak Q3 2024 Earnings Report
Announced results for the third quarter ended September 30, 2024.
Key Takeaways
Healthpeak Properties reported a net income of $0.12 per share, Nareit FFO of $0.44 per share, FFO as Adjusted of $0.45 per share, and AFFO of $0.41 per share for the third quarter of 2024. The company also saw a Total Merger-Combined Same-Store Cash (Adjusted) NOI growth of 4.1%.
Net income of $0.12 per share, Nareit FFO of $0.44 per share, FFO as Adjusted of $0.45 per share, AFFO of $0.41 per share, and Total Merger-Combined Same-Store Cash (Adjusted) NOI growth of 4.1%
Increased the midpoint of both 2024 FFO as Adjusted and AFFO guidance by +$0.01 per share, and increased Total Merger-Combined Same-Store Cash (Adjusted) NOI growth guidance by +50 basis points at the midpoint
Increased expected 2024 merger-related synergies to approximately $50 million, driven by property management internalization
Continued strong momentum in life science with 733,000 square feet of lease executions during the third quarter and through October 24, 2024
Revenue by Segment
Forward Guidance
Healthpeak is updating the following guidance ranges for full year 2024: Diluted earnings per common share from $0.27 – $0.31 to $0.40 – $0.42, Diluted Nareit FFO per share from $1.59 – $1.63 to $1.61 – $1.63, Diluted FFO as Adjusted per share from $1.77 – $1.81 to $1.79 – $1.81, Diluted AFFO per share from $1.54 – $1.58 to $1.56 – $1.58, Total Merger-Combined Same-Store Cash (Adjusted) NOI growth from 2.75% – 4.25% to 3.5% – 4.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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