Healthpeak Properties, Inc.

DOC: 10-Q · periodic report

Healthpeak Properties reported Q2 2026 total revenues of $771.6 million, up 11.1% year over year, with net income applicable to common shares of $52.7 million and EPS of $0.08 versus $0.05 a year ago. Six-month net income attributable to Healthpeak more than tripled to $246.5 million ($0.36 per diluted share) from $74.5 million ($0.11) in the prior-year period. The standout driver was the March 2026 IPO of Janus Living, Inc., a pure-play senior housing REIT, which raised $966 million gross, followed by a June follow-on offering that added $719 million gross. Healthpeak retains 73.6% voting and economic rights, externally manages and consolidates Janus Living, and saw senior housing segment revenue jump roughly 45% to $216.5 million in the quarter. Capital deployment was aggressive: a $312 million buyout of its JV partner's 46.5% stake in the SWF senior housing JV, roughly $818 million of first-half senior housing investments, and $100 million of buybacks at an average $16.81 per share. The Board approved a new $500 million repurchase program on July 30, 2026, and quarter-end cash swelled to $1.63 billion from Janus Living proceeds. Watch items: earnings were flattered by $138 million of non-recurring change-of-control gains and asset-sale gains; interest expense rose 23% year over year to $92.3 million; $650 million of 3.25% notes matured and were repaid in July 2026; and more than $1 billion of additional senior housing acquisitions closed after quarter end, setting up meaningful external funding needs.

SEC 10-Q•2mo ago

Healthpeak Properties Reports Second Quarter 2026 Results and Increases Full Year 2026 Earnings Guidance

Healthpeak reported Q2 net income of $0.08 per share and FFO as Adjusted of $0.46, alongside the authorization of a new $500 million share repurchase program. The company raised its full-year 2026 guidance for diluted earnings per share to $0.48-$0.52 and FFO to $1.73-$1.77, driven by strong occupancy in Outpatient Medical and Janus Living segments. Strategic capital allocation included closing a $1.025 billion joint venture transaction with Brookfield, resulting in $3.4 billion of liquidity and a net debt-to-EBITDAre ratio of 4.7x.

•2mo ago

Healthpeak Properties and Brookfield Form a $2.1 Billion Strategic Joint Venture

Brookfield Asset Management formed a $2.1 billion joint venture with Healthpeak Properties, investing approximately $1.025 billion for a 49% non-controlling interest in a portfolio of 86 U.S. outpatient medical buildings. The 5.6 million square foot portfolio is 95% leased with a weighted average lease term of six years, implying a 5.9% trailing cash cap rate. Healthpeak retains a 51% controlling interest and will serve as managing member, while Brookfield secures a long-term capital partnership in the healthcare real estate sector.

•3mo ago

Healthpeak Properties Declares Monthly Common Stock Cash Dividends for the Third Quarter of 2026

Healthpeak Properties' Board of Directors declared a monthly common stock cash dividend of $0.10167 per share for the third quarter of 2026. The monthly rate corresponds to an annualized dividend of $1.22 per share, maintaining the company's payout schedule. The dividends are payable on July 31, August 28, and September 25 to stockholders of record on July 20, August 17, and September 14, respectively.

•3mo ago

Healthpeak Properties Raises 2026 Earnings Guidance Following Completion of the Janus Living IPO, Accretive Capital Allocation, and Strong First Quarter 2026 Results

Healthpeak Properties raised its 2026 diluted EPS guidance to $0.46-$0.50, up from the prior range of $0.34-$0.38, driven by the completion of the accretive Janus Living IPO and strong Q1 results. The company repurchased 5.9 million shares for approximately $100 million and sold an 80% interest in a six-property outpatient portfolio to Blackstone affiliates for $170 million in gross proceeds. Janus Living generated $880 million in net proceeds from its IPO and is under contract on an additional $400 million of senior housing acquisitions, helping to drive consolidated revenue growth of 35% year-over-year.

•5mo ago