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Healthpeak Properties, Inc. (PEAK) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

PEAK Quarterly Reports

Healthpeak Properties, Inc.

CIK: 765880 Ticker: PEAK
Exhibit 99.1
    



Healthpeak Properties Reports First Quarter 2022 Results
DENVER, May 3, 2022 - Healthpeak Properties, Inc. (NYSE: PEAK) today announced results for the first quarter ended March 31, 2022.
FIRST QUARTER 2022 FINANCIAL PERFORMANCE AND RECENT HIGHLIGHTS
Net income of $0.13 per share, Nareit FFO of $0.45 per share, FFO as Adjusted of $0.43 per share, and blended Total Same-Store Portfolio Cash (Adjusted) NOI growth of 5.6%
Life Science and MOB Same-Store Portfolio Cash (Adjusted) NOI growth of 5.2% and 3.6%, respectively
Total pro forma Same-Store Portfolio Cash (Adjusted) NOI growth of 3.2% excluding government grants received under the CARES Act at our CCRC properties
Life science development:
Placed 263,000 square feet of 100% leased Class A life science developments in service during the first quarter, representing $262 million of total investment
Active life science developments 71% pre-leased as of March 31, 2022 with significant active tenant interest in remaining availability
Placed in service three on-campus HCA medical office development projects representing 237,000 square feet and $68 million of investment at completion; the properties were 61% leased as of March 31, 2022
Acquired two medical office buildings on the campus of an HCA hospital in the Houston MSA for $43 million
Net debt to adjusted EBITDAre and liquidity were 5.1x and $2.1 billion, respectively, as of March 31, 2022
Kathy Sandstrom appointed independent Vice Chair of the Board of Directors
The Board of Directors declared a quarterly common stock cash dividend of $0.30 per share to be paid on May 20, 2022, to stockholders of record as of the close of business on May 9, 2022
Recent ESG accomplishments include:
Named to Fortune's inaugural Modern Board 25 list, recognizing the 25 most innovative boards of directors among S&P 500 companies based on corporate governance criteria such as director expertise, independence, diversity and tenure, as well as ESG scoring
Received a Supplier Engagement Rating of "A-" from CDP for the third consecutive year for our leading performance in ESG governance, environmental targets, greenhouse gas emissions disclosure and supplier engagement
Recognized by the Women's Leadership Foundation of Colorado for having a gender-balanced Board
FIRST QUARTER COMPARISON
 Three Months Ended March 31, 2022Three Months Ended March 31, 2021
(in thousands, except per share amounts)AmountPer ShareAmountPer Share
Net income, diluted$69,637 $0.13 $143,337 $0.27 
Nareit FFO, diluted245,783 0.45 40,233 0.07 
FFO as Adjusted, diluted237,186 0.43 217,331 0.40 
AFFO, diluted203,682 186,135 
Nareit FFO, FFO as Adjusted, AFFO, Same-Store Cash (Adjusted) NOI and Net Debt to Adjusted EBITDAre are supplemental non-GAAP financial measures that we believe are useful in evaluating the operating performance and financial position of real estate investment trusts (see the "Funds From Operations" and "Adjusted Funds From Operations" sections of this release for additional information). See "March 31, 2022 Discussion and Reconciliation of Non-GAAP Financial Measures” for definitions, discussions of their uses and inherent limitations, and
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The following information was filed by Healthpeak Properties, Inc. (PEAK) on Tuesday, May 3, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Healthpeak Properties, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Equity And Redeemable Noncontrolling Interests
Consolidated Statements Of Equity And Redeemable Noncontrolling Interests (Parenthetical)
Consolidated Statements Of Operations
Accounts Payable, Accrued Liabilities, And Other Liabilities
Accounts Payable, Accrued Liabilities, And Other Liabilities (Details)
Accounts Payable, Accrued Liabilities, And Other Liabilities (Tables)
Business
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Tables)
Debt - Bank Line Of Credit And Term Loans (Details)
Debt - Commercial Paper Program (Details)
Debt - Debt Maturities (Details)
Debt - Mortgage Debt (Details)
Debt - Senior Unsecured Notes (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Narrative (Details)
Derivative Financial Instruments - Schedule Of Derivative Instruments (Details)
Dispositions Of Real Estate And Discontinued Operations
Dispositions Of Real Estate And Discontinued Operations (Tables)
Dispositions Of Real Estate And Discontinued Operations - Assets And Liabilities For Discontinued Operations (Details)
Dispositions Of Real Estate And Discontinued Operations - Narrative (Details)
Dispositions Of Real Estate And Discontinued Operations - Schedule Of Results Of Discontinued Operations (Details)
Earnings Per Common Share
Earnings Per Common Share (Tables)
Earnings Per Common Share - Computation Of Eps (Details)
Earnings Per Common Share - Narrative (Details)
Equity And Redeemable Noncontrolling Interests
Equity And Redeemable Noncontrolling Interests (Tables)
Equity And Redeemable Noncontrolling Interests - Additional Information (Details)
Equity And Redeemable Noncontrolling Interests - Aoci (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Intangibles
Intangibles (Tables)
Intangibles - Intangibles Lease Assets (Details)
Intangibles - Intangibles Lease Liabilities (Details)
Intangibles - Narrative (Details)
Investments In And Advances To Unconsolidated Joint Ventures
Investments In And Advances To Unconsolidated Joint Ventures (Details)
Investments In And Advances To Unconsolidated Joint Ventures (Tables)
Leases
Leases (Tables)
Leases - Direct Financing Leases (Details)
Leases - Lease Income (Details)
Leases - Narrative (Details)
Loans Receivable
Loans Receivable (Tables)
Loans Receivable - Narrative (Details)
Loans Receivable - Schedule Of Loans Receivable (Details)
Loans Receivable - Schedule Of Loans Receivable By Origination Year (Details)
Loans Receivable - Schedule Of Reserve For Loan Losses (Details)
Real Estate Transactions
Real Estate Transactions - Development Activities (Details)
Real Estate Transactions - Real Estate Investments (Details)
Segment Disclosures
Segment Disclosures (Tables)
Segment Disclosures - Summary Information For The Reportable Segments (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Government Grant Income (Details)
Summary Of Significant Accounting Policies - Narrative (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Tables)
Supplemental Cash Flow Information - Schedule Of Cash, Cash Equivalents And Restricted Cash (Details)
Supplemental Cash Flow Information - Summary Of Cash Flow Information Discontinued Operations (Details)
Supplemental Cash Flow Information - Supplemental Cash Flow Information (Details)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities - Consolidated Assets And Liabilities Of Vies (Details)
Variable Interest Entities - Narrative (Details)
Variable Interest Entities - Schedule Of Variable Interest Entities (Details)
Ticker: PEAK
CIK: 765880
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-22-012290
Submitted to the SEC: Wed May 04 2022 4:18:20 PM EST
Accepted by the SEC: Wed May 04 2022
Period: Thursday, March 31, 2022
Industry: Real Estate Investment Trusts

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