Healthpeak Properties (NYSE:DOC) reported a second-quarter adjusted funds from operations (FFO) of $0.46 per share and increased its full-year adjusted FFO guidance by $0.02 to $1.73 to $1.77 per share due to improved net operating income in its lab and senior housing sectors. CEO Scott Brinker emphasized the company’s strategic moves during the life science downturn, which include a $5 billion merger and a $1 billion IPO, that have positioned Healthpeak for future growth.
In the second quarter, Healthpeak executed 1.2 million square feet of outpatient medical leases, leading to a total occupancy increase to 90.7%. The company also completed a recapitalization with Brookfield, retaining 51% of a 5.6 million-square-foot portfolio while raising $1 billion in cash proceeds. Healthpeak’s lab portfolio saw significant leasing activity with 381,000 square feet leased, boosting occupancy to 78.5%.
As of the end of the second quarter, Healthpeak reported a net debt to adjusted EBITDA ratio of 4.7 times and $4.1 billion in available liquidity. The company has completed $1.8 billion in senior housing acquisitions since January 1, significantly enhancing its portfolio value.
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