Q1 2025 Healthpeak Properties Inc Earnings Call Transcript
Key Points
- Healthpeak Properties Inc (DOC) maintained its FFO guidance for 2025, reflecting confidence in its diversified portfolio.
- The company reported strong performance in its Outpatient Medical and Senior Housing segments, with same-store growth of 5% and 16%, respectively.
- Healthpeak Properties Inc (DOC) successfully internalized property management, adding 4.5 million square feet since January 1, which has been financially and strategically beneficial.
- The company executed nearly 1 million square feet of leases in the Outpatient Medical segment during the first quarter, indicating strong demand.
- Healthpeak Properties Inc (DOC) has a robust balance sheet with a net debt to EBITDA ratio of 5.2 times and $2.8 billion of available liquidity, positioning it well for long-term success.
- The Lab business, which represents 35% of Healthpeak Properties Inc (DOC)'s income, is facing challenges due to regulatory uncertainty and a difficult capital raising environment.
- There is potential for deceleration in same-store growth in the Lab segment as benefits from internalization and free rent normalize.
- The company acknowledged that some tenants might delay leasing decisions due to the current market environment, which could impact future leasing activity.
- Healthpeak Properties Inc (DOC) has stepped back to reassess risk-adjusted returns on its life science loan pipeline, indicating potential challenges in this area.
- The company faces uncertainty in the biopharma sector due to regulatory and market instability, which could affect future performance.
Good morning, and welcome to the Healthpeak Properties Inc., first quarter conference call. (Operator Instructions) Please note this event is being recorded.
I would not like to turn the conference over to Andrew Johns, Senior Vice President, Investor Relations. Please go ahead.
Welcome to Healthpeak's first-quarter 2025 financial results conference call. Today's conference call contain certain forward-looking statements, although we believe expectations reflected in any forward-looking statements are based on reasonable assumptions, our forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our expectations.
A discussion of risks and risk factors included in our press release and detailed in our filings with the SEC. We do not undertake a duty to update any forward-looking statements. Certain non-GAAP financial measures will be discussed on this call, and an exhibit to the 8-K referred to the
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