DOC · 10-Q · 2026Q2 · Full report
Net Income and Profitability
HEALTHPEAK PROPERTIES, INC. · 2026-08-05 · Importance 53 · Surprise 82 · No source text
Three-month net income applicable to common shares increased $21.1 million year over year to $52.7 million from $31.6 million for the period ended June 30, 2026. Six-month net income increased $172.2 million to $246.2 million from $73.9 million, primarily because of gains on the March 2026 outpatient medical building transaction, the SWF JV Buyout, and higher senior housing Adjusted NOI. Three-month Nareit FFO increased $15.4 million to $319.0 million, while six-month Nareit FFO decreased $6.3 million to $616.0 million. FFO as Adjusted decreased $0.2 million to $321.0 million for the quarter and $13.0 million to $633.4 million for the six-month period.
Key facts
- Six months ended June 30, 2026 net income applicable to common shares was $246,152 thousand compared to $73,922 thousand for the six months ended June 30, 2025, a change of $172,230 thousand. source
- Three months ended June 30, 2026 net income applicable to common shares was $52,668 thousand compared to $31,558 thousand for the three months ended June 30, 2025, a change of $21,110 thousand. source
- Other income increased for the six months ended June 30, 2026 primarily due to a $92 million gain upon change of control related to sale of an 80% interest in six outpatient medical buildings in March 2026 and a $46 million gain upon change of control related to the SWF JV Buyout in January 2026. source
- Three months ended June 30, 2026 Nareit FFO applicable to common shares was $318,970 thousand compared to $303,607 thousand for the three months ended June 30, 2025, an increase of $15,363 thousand. source
- Three months ended June 30, 2026 FFO as Adjusted applicable to common shares was $321,034 thousand compared to $321,240 thousand for the three months ended June 30, 2025, a decrease of $206 thousand. source
- Six months ended June 30, 2026 Nareit FFO applicable to common shares was $615,970 thousand compared to $622,264 thousand for the six months ended June 30, 2025, a decrease of $6,294 thousand. source
- Six months ended June 30, 2026 FFO as Adjusted applicable to common shares was $633,381 thousand compared to $646,337 thousand for the six months ended June 30, 2025, a decrease of $12,956 thousand. source
- Noncontrolling interests’ share in earnings was $(10,423) thousand for the three months ended June 30, 2026 versus $(7,346) thousand in 2025 (increase of $(3,077) thousand). source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | realized | +79.6% | Six months ended June 30, 2026 net income applicable to common shares was $246,152 thousand compared to $73,922 thousand for the six… |
| net_income | positive | realized | +63.8% | Other income increased for the six months ended June 30, 2026 primarily due to a $92 million gain upon change of control related to sale… |
| net_income | positive | realized | +9.8% | Three months ended June 30, 2026 net income applicable to common shares was $52,668 thousand compared to $31,558 thousand for the three… |
| net_income | positive | realized | +7.1% | Three months ended June 30, 2026 Nareit FFO applicable to common shares was $318,970 thousand compared to $303,607 thousand for the three… |
| net_income | negative | realized | -6.0% | Six months ended June 30, 2026 FFO as Adjusted applicable to common shares was $633,381 thousand compared to $646,337 thousand for the six… |
| net_income | negative | realized | -2.9% | Six months ended June 30, 2026 Nareit FFO applicable to common shares was $615,970 thousand compared to $622,264 thousand for the six… |
| net_income | negative | realized | -1.4% | Noncontrolling interests’ share in earnings was $(10,423) thousand for the three months ended June 30, 2026 versus $(7,346) thousand in… |
| net_income | negative | realized | -0.1% | Three months ended June 30, 2026 FFO as Adjusted applicable to common shares was $321,034 thousand compared to $321,240 thousand for the… |