Healthpeak Properties Reports Q2 2025 Financial Results with Revenue of $694.3 Million

Healthpeak Properties, Inc. reported its financial results for the second quarter of 2025, revealing total revenues of $694.3 million, a slight decrease from $695.5 million in the same period last year. The company's net income applicable to common shares was $31.6 million, or $0.05 per share, down from $145.8 million, or $0.21 per share, in the prior year. For the first half of 2025, total revenues increased to $1.4 billion from $1.3 billion in 2024, while net income applicable to common shares fell to $73.9 million from $152.3 million. The decline in profitability was attributed to reduced gains on real estate sales and increased operating expenses, despite higher interest income and lower general and administrative costs.

In terms of operational developments, Healthpeak's portfolio consisted of 702 properties as of June 30, 2025, including 529 outpatient medical buildings, 139 lab properties, and 15 continuing care retirement communities (CCRCs). The company completed several acquisitions, including a lab land parcel in Cambridge, Massachusetts for $20 million and a portfolio of outpatient medical buildings in New York for $17 million. Additionally, Healthpeak sold two outpatient medical buildings for $27 million in July 2025, contributing to its ongoing strategy of optimizing its real estate portfolio.

The company’s financial position showed total assets of $19.8 billion, a decrease from $19.9 billion at the end of 2024. Total liabilities increased to $11.2 billion from $10.9 billion, primarily due to higher borrowings under its commercial paper program, which reached $775 million by the end of June 2025. Healthpeak's equity totaled $8.6 billion, reflecting a decrease from $9.1 billion at the end of the previous fiscal year. The company also reported a cash and cash equivalents balance of $89.4 million, down from $119.8 million at the end of 2024.

Looking ahead, Healthpeak anticipates that its cash flows from operations, along with available cash balances and financing activities, will be sufficient to meet its liquidity needs for the next 12 months. The company plans to fund capital expenditures, acquisitions, and other investment commitments through a combination of cash flows from operations, sales of properties, and borrowings under its credit facilities. Healthpeak's management remains focused on maintaining a strong balance sheet and leveraging its diversified portfolio to navigate potential market challenges, including rising interest rates and economic uncertainties.