Healthpeak Properties Inc. (PEAK) Tops Q4 EPS by 1c, Revenues Miss; Provides FY20 Outlook

Healthpeak Properties Inc. (NYSE: PEAK) reported Q4 EPS of $0.09, $0.01 better than the analyst estimate of $0.08. Revenue for the quarter came in at $531.69 million versus the consensus estimate of $536.72 million.

• Net income of $0.09 per share, NAREIT FFO of $0.39 per share, FFO as Adjusted of $0.44 per share and blended Total Portfolio SPP Cash NOI growth of 3.6%

GUIDANCE:

Healthpeak Properties Inc. sees FY2020 EPS of $0.70-$0.76, versus the consensus of $0.36.

For full year 2020, we have established the following guidance ranges:

• Diluted earnings per common share to range between $0.70 to $0.76
• Diluted NAREIT FFO per share of $1.64 to $1.70
• Diluted FFO as Adjusted per share of $1.77 to $1.83
• Blended Total Portfolio Same-Store Cash NOI growth of 2.00% to 3.00%

Key Assumptions

• Components to initial blended Total Portfolio Same-Store Cash NOI guidance:
  • Medical Office: 1.75% to 2.75%
  • Life Science: 4.00% to 5.00%
  • Senior Housing: (1.00%) to 1.00%
  • Other: 1.75% to 2.50%
• Senior Housing Same-Store Cash NOI: At the mid-point, assumes triple-net portfolio growth of 2.50% and SHOP growth of (2.50%)

For earnings history and earnings-related data on Healthpeak Properties Inc. (PEAK) click here.

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