DOC · 10-Q · 2026Q3 · Full report
Net Income and Profitability
HEALTHPEAK PROPERTIES, INC. · 2026-11-03 · Importance 69 · Surprise 64 · In source text
For the three months ended September 30, 2026, net income applicable to common shares was $17.118 million, compared with a net loss of $117.256 million in the 2025 quarter, an improvement of $134.374 million. The improvement reflected lower other-than-temporary impairment charges, higher senior housing Adjusted NOI from acquisitions, occupancy and resident-rate gains and the SWF JV Buyout, and interest earned on Janus Living offering proceeds. Nareit FFO applicable to common shares declined by $21.366 million to $296.789 million, while FFO as Adjusted declined by $13.862 million to $304.888 million. Factors weighing on results included higher interest expense and general and administrative expenses, lower outpatient medical Adjusted NOI, and the absence of real estate dispositions in the 2026 quarter.
Key facts
- Healthpeak’s net income applicable to common shares was $17.118 million for the three months ended September 30, 2026, compared with a net loss of $117.256 million in 2025, an increase of $134.374 million. source
- For the nine months ended September 30, 2026, net income applicable to common shares was $263.270 million, compared with a $43.335 million net loss in 2025, an increase of $306.605 million. source
- For the nine months ended September 30, 2026, depreciation and amortization expense increased by $75.268 million to $872.047 million. source
- Healthpeak’s Nareit FFO applicable to common shares was $296.789 million for the three months ended September 30, 2026, down $21.366 million from $318.155 million in 2025. source
- Healthpeak’s FFO as Adjusted applicable to common shares was $304.888 million for the three months ended September 30, 2026, down $13.862 million from $318.750 million in 2025. source
- For the nine months ended September 30, 2026, Nareit FFO applicable to common shares was $912.759 million, down $27.659 million from 2025. source
- For the nine months ended September 30, 2026, FFO as Adjusted applicable to common shares was $938.269 million, down $26.818 million from 2025. source
- Healthpeak said interest earned on proceeds from the Janus Living IPO and follow-on offerings contributed to increased net income in the three months ended September 30, 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | realized | +114.3% | For the nine months ended September 30, 2026, net income applicable to common shares was $263.270 million, compared with a $43.335 million… |
| net_income | positive | realized | +50.1% | Healthpeak’s net income applicable to common shares was $17.118 million for the three months ended September 30, 2026, compared with a net… |