Earnings Release & Supplemental Report

10-Q Filing

Discussion + Reconciliation of Non-GAAP Financial Measures

• Net income of $0.65 per share, Nareit FFO of $0.42 per share, FFO as Adjusted of $0.43 per share, and blended Total Same-Store Portfolio Cash (Adjusted) NOI growth of 5.1%
  • Life Science and MOB Same-Store Portfolio Cash (Adjusted) NOI growth of 5.4% and 4.9%, respectively
• Increasing full-year 2022 FFO as Adjusted and Total Portfolio Same-Store Cash (Adjusted) NOI growth guidance
• Life science leasing update:
  • Third quarter lease executions totaled over 500,000 square feet 
  • $1 billion active life science development pipeline is 81% pre-leased 
• Balance Sheet:
  • Closed on the previously announced $500 million delayed draw senior unsecured term loans and related interest rate swaps resulting in a 3.5% fixed contractual rate through the initial 2027 maturities 
  • Net debt to adjusted EBITDAre and liquidity were 5.3x and $2.4 billion, respectively, as of September 30, 2022
• Appointed Scott Brinker as President and Chief Executive Officer and elected him to the Healthpeak Board
• The Board of Directors declared a quarterly common stock cash dividend of $0.30 per share to be paid on November 18, 2022, to stockholders of record as of the close of business on November 7, 2022 
• Received the GRESB Green Star designation and named a constituent in the FTSE4Good Index, each for the eleventh consecutive year