NYSE$DOC

Healthpeak Properties Inc · Q4 2024 earnings

Q4 2024 earnings · · After market close · Investor relations

Briefing

Announced results for the fourth quarter and year ended December 31, 2024 and increased cash dividend.

Healthpeak Properties reported fourth-quarter results with a net income of $0.01 per share, Nareit FFO of $0.44 per share, FFO as Adjusted of $0.46 per share, and AFFO of $0.40 per share. Total Same-Store Portfolio Cash (Adjusted) NOI growth was 5.4%. The company's Board of Directors declared a 1.7% increase in the quarterly common stock cash dividend to $0.305 per share.

  • Net income of $0.01 per share, Nareit FFO of $0.44 per share, FFO as Adjusted of $0.46 per share, AFFO of $0.40 per share, and Total Same-Store Portfolio Cash (Adjusted) NOI growth of 5.4%.
  • Healthpeak's Board of Directors declared a 1.7% increase in the Company's quarterly common stock cash dividend to $0.305 per share.
  • Fourth quarter new and renewal lease executions totaled 1.5 million square feet.
  • Originated loans and other investments totaling up to approximately $126 million during the fourth quarter 2024 and through January 2025.

Headline financials

Total Revenue

$698M

Previous: $554M+26.1%
EPS (adj)

$0.46

Previous: $0.26+76.9%
Capital Expenditures

-$39M

No prior period
Net Income

$4.4M

Previous: $70.8M-93.8%
Operating Income

-$3.23M

No prior period

Revenue & EPS history

Healthpeak · Revenue · Quarterly

$698M

Q4 2024+26.1%vs Q4 2023
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

For full year 2025, Diluted earnings per common share of $0.30 – $0.36, Diluted Nareit FFO per share of $1.81 – $1.87, Diluted FFO as Adjusted per share of $1.81 – $1.87 and Total Merger-Combined Same-Store Cash (Adjusted) NOI growth from 3.0% – 4.0%

Tailwinds

  • Diluted earnings per common share of $0.30 – $0.36
  • Diluted Nareit FFO per share of $1.81 – $1.87
  • Diluted FFO as Adjusted per share of $1.81 – $1.87
  • Total Merger-Combined Same-Store Cash (Adjusted) NOI growth from 3.0% – 4.0%

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 Q4 2024

Historical avgQ4 2024

-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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