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Healthpeak Properties (DOC)
NYSE:DOC
Holding DOC?
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Earnings Data
Report Date
Feb 03, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.05Last Year’s EPS
0.13Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2018
|% Change Since: -9.61%
|Next Earnings Date:Aug 02, 2018
Earnings Call Sentiment|Positive
The earnings call demonstrated strong performance in leasing, increased guidance, and successful merger synergies, highlighting the company's strategic growth and financial stability. However, challenges in the lab market and hesitance in new development starts present areas of concern. Overall, the positive aspects of leasing momentum, high dividends, and a strong balance sheet were emphasized.Company Guidance
In the third quarter of 2024, Healthpeak Properties announced an increase in guidance for the third time this year, attributed to strong performance in leasing, same-store operations, and merger synergies. The company reported adjusted FFO of $0.45 per share and AFFO of $0.41 per share, with total portfolio same-store growth at 4.1%. Notably, the merger closed on March 1 is expected to deliver $50 million in synergies, 25% above initial estimates, primarily due to internalization efforts. Leasing momentum in the lab segment led to over 700,000 square feet signed since July 1, including significant activity at key campuses. Outpatient medical continues to exhibit robust fundamentals, achieving a cash rent mark-to-market of 10% and same-store growth of 3.4% year-to-date. The company revised its 2024 FFO guidance to $1.79-$1.81 and AFFO guidance to $1.56-$1.58, reflecting a 50 basis point increase in same-store growth expectations to 3.5%-4.5%. Healthpeak's balance sheet remains strong with a net debt-to-EBITDA ratio of 5.1 and $3 billion in liquidity.Increased Guidance for 2024
Healthpeak increased guidance for the third time this year, driven by outperformance in leasing, same-store operations, and merger synergies.
Merger Synergies Outperformance
Year one synergies from the merger are tracking to be $50 million, 25% above the initial forecast, with additional synergies expected in the next year or two.
Strong Leasing Momentum
Over 700,000 square feet of leases signed since July 1, with positive 10% cash re-leasing spreads in the third quarter.
High Dividends and Free Cash Flow
Paying a 5%-plus dividend with a conservative payout ratio, leaving nearly $300 million of annual free cash flow to reinvest in the business.
Outpatient Medical Business Growth
Record re-leasing spreads and moving rent escalators up to 3% on new leases, with over 5 million square feet of leases executed year-to-date.
Balance Sheet Strength
Net debt-to-EBITDA of 5.1 times and $3 billion of liquidity, with the revolver being completely undrawn.
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DOC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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DOC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $22.69 | $21.98 | -3.13% |
| Jul 25, 2024 | $20.19 | $21.30 | +5.50% |
| Apr 25, 2024 | $17.56 | $18.00 | +2.51% |
| Feb 08, 2024 | $16.93 | $16.32 | -3.60% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Healthpeak Properties (DOC) report earnings?
Healthpeak Properties (DOC) is schdueled to report earning on Feb 03, 2025, TBA Not Confirmed.
What is Healthpeak Properties (DOC) earnings time?
Healthpeak Properties (DOC) earnings time is at Feb 03, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DOC EPS forecast?
DOC EPS forecast for the fiscal quarter 2024 (Q4) is 0.05.
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