Earnings Release & Supplemental Report

10-Q Filing

Discussion + Reconciliation of Non-GAAP Financial Measures

Update to Reconciliation of Certain Non-GAAP Financial Measures

• Net income of $0.22 per share, Nareit FFO of $0.42 per share, FFO as Adjusted of $0.42 per share, AFFO of $0.38 per share, and blended Total Same-Store Portfolio Cash (Adjusted) NOI growth of 5.5%
  • Life Science and MOB Same-Store Portfolio Cash (Adjusted) NOI growth of 6.3% and 3.7%, respectively
• First quarter life science new and renewal lease executions totaled 311,000 square feet, with +55% cash releasing spreads on renewals
• Placed-in-service the remaining 19,000 square feet at 101 CambridgePark Drive
• Balance Sheet:
  • In January 2023, issued $400 million of 5.25% fixed rate 10-year senior unsecured notes
  • Net debt to Adjusted EBITDAre was 5.4x as of March 31, 2023
• On February 10, 2023, Healthpeak implemented a holding company reorganization to an Umbrella Partnership Real Estate Investment Trust (UPREIT)
• Board of Directors: 
  • Kathy Sandstrom appointed Chair of the Board of Directors
  • Jim Connor appointed as an independent director
• Healthpeak's Board of Directors declared today a quarterly common stock cash dividend of $0.30 per share to be paid on May 19, 2023, to stockholders of record as of the close of business on May 8, 2023 
• Recent ESG accomplishments include:
  • Earned the 2023 ENERGY STAR® Partner of the Year Award from the U.S. Environmental Protection Agency and the U.S. Department of Energy, marking Healthpeak's third time receiving the award
  • Ranked in the top 10% of companies by ISS for each of our environmental, social, and governance quality scores
  • Named a Women's Forum of New York Corporate Champion for the fifth time