NYSE$DOC

Healthpeak Properties Inc · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Announced second quarter 2023 results.

Healthpeak Properties reported second quarter results, including net income of $0.09 per share, Nareit FFO of $0.45 per share, and FFO as Adjusted of $0.45 per share. The company updated its full year 2023 diluted earnings guidance to a range of $0.49 – $0.53 per share and increased the midpoint of 2023 FFO as Adjusted guidance by $0.01 per share.

  • Net income of $0.09 per share.
  • Nareit FFO of $0.45 per share.
  • FFO as Adjusted of $0.45 per share.
  • Blended Total Same-Store Portfolio Cash (Adjusted) NOI growth of 4.8%.

Headline financials

Total Revenue

$545M

Previous: $518M+5.3%
EPS (adj)

$0.25

Previous: $0.27-7.4%
Net Debt to Adjusted EBITDAre

5.1

No prior period
Capital Expenditures

-$410M

Previous: -$526M+22.0%
Free Cash Flow

-$358M

Previous: -$457M+21.7%
Net Income

$51.9M

Previous: $68.3M-24.1%
Operating Income

$102M

Previous: $87.8M+15.8%
Gross Profit

$324M

Previous: $303M+6.8%
Cash & Equivalents

$104M

Previous: $73M+42.1%
Total Assets

$15.6B

Previous: $15.3B+1.9%
Stock-Based Comp

$4.25M

Previous: $5.3M-19.9%

Revenue & EPS history

Healthpeak · Revenue · Quarterly

$545M

Q2 2023+5.3%vs Q2 2022
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Revenue by segment

Healthpeak · $582M total across 3 segments · Q1 2020

  • Rental and related revenues
    $315M
  • Resident fees and services
    $264M
  • Interest income and other
    $3.69M

Forward guidance

Healthpeak updated the following guidance ranges for full year 2023: Diluted earnings per common share from $0.52 – $0.58 to $0.49 – $0.53, Diluted Nareit FFO per share from $1.71 – $1.77 to $1.72 – $1.76, Diluted FFO as Adjusted per share from $1.71 – $1.77 to $1.73 – $1.77, Total Portfolio Same-Store Cash (Adjusted) NOI growth from 3.00% – 4.50% to 3.25% – 4.75%.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2023

Historical avgQ2 2023

-0.9%

Avg return

Earnings day

-0.7%

Avg return

5 days after

+0.1%

Avg return

30 days after

40%

29 / 72 earnings

Positive

+5.8%

Q3 2020

Best reaction

-8.1%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.1%+17.3%+19.9%
Q4 2025+0.0%-0.4%+2.9%
Q3 2025+1.2%-5.2%-3.8%
Q2 2025+1.6%+1.1%+6.1%
Q1 2025-5.2%-5.2%-10.5%
Q4 2024-1.6%-2.6%-1.2%
Q3 2024-3.6%-2.6%-6.5%
Q2 2024-0.1%-1.4%+1.3%
Q1 2024+0.9%-0.1%+2.5%
Q4 2023-0.8%-4.4%+3.7%
Q3 2023-5.3%+4.8%+4.4%
Q2 2023-2.2%-2.3%-8.9%
Q1 2023+5.8%+2.0%-6.3%
Q4 2022-2.1%-5.0%-18.3%
Q3 2022-0.3%+1.2%+10.2%
Q2 2022-2.2%-3.8%-4.6%
Q1 2022+0.2%-4.9%-9.1%
Q4 2021-2.8%-2.3%+7.8%
Q3 2021-1.8%-3.8%-5.8%
Q2 2021+0.8%-0.8%-0.1%
Q1 2021-3.1%-1.8%-0.8%
Q4 2020-7.1%-4.9%+2.4%
Q3 2020+5.8%+4.1%+9.4%
Q2 2020+1.1%+6.4%+5.7%
Q1 2020-4.4%-3.5%+10.5%
Q4 2019-8.1%-7.9%-29.8%
Q3 2019-2.2%-6.6%-4.0%
Q2 2019+4.4%+2.9%+8.5%
Q1 2019+2.6%+1.7%+6.5%
Q4 2018-0.5%-1.0%+1.2%
Q3 2018+0.3%+2.1%+4.0%
Q2 2018+1.8%+1.8%+4.0%
Q1 2018+1.1%+1.5%+3.4%
Q4 2017+0.8%+2.3%+6.8%
Q3 2017-0.4%+0.1%-1.1%
Q2 2017-0.6%-1.4%+0.4%
Q1 2017-4.4%-3.6%+2.0%
Q4 2016+1.9%+0.2%-4.7%
Q3 2016-5.9%-0.7%-4.6%
Q2 2016-1.2%-1.3%+0.3%
Q1 2016-2.3%
Q4 2015+2.8%
Q3 2015-7.7%
Q2 2015-0.3%
Q1 2015+1.6%
Q4 2014-0.7%
Q3 2014+1.3%
Q2 2014+2.5%
Q1 2014+1.0%
Q4 2013+2.0%
Q3 2013-0.8%
Q2 2013-2.7%
Q1 2013+0.5%
Q4 2012+0.7%
Q3 2012+0.7%
Q2 2012-0.4%
Q1 2012+0.8%
Q4 2010-3.8%
Q4 2011-3.8%
Q3 2011-3.7%
Q2 2011-0.5%
Q1 2011-0.2%
Q3 2010-0.9%
Q2 2010-0.9%
Q1 2009-4.1%
Q1 2010-0.5%
Q4 2007+3.2%
Q3 2008-5.2%
Q3 2009-5.2%
Q2 2008+0.6%
Q2 2009+0.6%
Q4 2008+0.6%

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