NYSE$DOC

Healthpeak Properties Inc · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

Healthpeak Properties reported Q4 2025, revenue of $719.4M, net income of $113.8M, diluted EPS of $0.16.

For Q4 2025, Healthpeak Properties reported revenue of $719.4M, net income of $113.8M, diluted EPS was $0.16. Management discusses segment performance, capital allocation, and outlook in the earnings filing.

  • Revenue $719.4M.
  • Net income $113.8M.
  • Diluted EPS $0.16.

Headline financials

Total Revenue

$719M

Previous: $698M+3.1%
EPS (adj)

$0.16

Previous: $0.46-65.2%
Total Merger-Combined Same-Store Cash (Adjusted) NOI growth

3.9%

No prior period
Outpatient Medical SS Cash NOI growth

4.1%

No prior period
Lab SS Cash NOI growth

-0.3%

No prior period
Life Plan SS Cash NOI growth

16.7%

No prior period
Net Debt to Adjusted EBITDAre

5.2

No prior period
Outpatient Medical new lease executions

288.0K

No prior period
Outpatient Medical renewal lease executions

1.5M

No prior period
Outpatient Medical cash releasing spreads on renewals

4.4%

No prior period
Lab new lease executions

261.0K

No prior period
Lab renewal lease executions

72.0K

No prior period
Lab cash releasing spreads on renewals

-1.7%

No prior period
Net Income

$114M

Previous: $4.4M+2487.5%
Operating Income

$125M

Previous: -$3.23M+3968.6%

Revenue & EPS history

Healthpeak · Revenue · Quarterly

$719M

Q4 2025+3.1%vs Q4 2024
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

The release discusses Healthpeak Properties's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • Healthpeak Properties cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.
  • Distributions, book value, and portfolio yields remain central to the investment case.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.
  • Interest rates, spreads, and asset marks can swing quarterly GAAP earnings.

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 2025

Historical avgQ4 2025

-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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