National Healthcare Properties, Inc. reported its financial results for the second quarter and first half of 2026, revealing a modest increase in revenue and significant improvements in profitability compared to the same period in 2025. For the three months ended June 30, 2026, the company generated $87.5 million in revenue from tenants, a 2.6% increase from $85.3 million in the prior year. The net loss attributable to common stockholders was $8.1 million, or $0.13 per share, a notable improvement from a net loss of $24.2 million, or $0.85 per share, in the same quarter of 2025. For the six months ended June 30, 2026, total revenue reached $173.8 million, up 1.2% from $171.8 million, while the net loss narrowed to $15.7 million from $29.2 million year-over-year.
The company’s operational metrics showed positive trends, particularly in its Senior Housing Operating Portfolio (SHOP) segment, which reported a 4.0% increase in revenue from tenants to $58.3 million for the second quarter. The net operating income (NOI) for the SHOP segment surged by 27.0% to $13.0 million, driven by higher occupancy rates and revenue per occupied room. Conversely, the Outpatient Medical Facilities (OMF) segment experienced a slight decline in revenue, down 0.2% to $29.2 million, with NOI decreasing by 2.4% to $20.4 million, attributed to nonrecurring revenue recognized in the prior year.
Strategically, National Healthcare Properties completed a public offering on April 23, 2026, raising approximately $531.3 million through the issuance of 44.3 million shares of Class A common stock. This capital was utilized to repay outstanding debt, including a $186 million revolving credit facility, thereby enhancing the company's liquidity position. As of June 30, 2026, the company reported total liquidity of $529.3 million, comprising $283.6 million in undrawn credit and $245.7 million in cash and cash equivalents.
In terms of acquisitions, the company acquired two SHOP communities for $98 million during the first half of 2026 and has entered into agreements to acquire additional properties. The company also announced plans to sell a portfolio of 86 outpatient medical facilities for approximately $528.2 million, pending lender approval. The company’s total assets increased to $1.98 billion as of June 30, 2026, up from $1.71 billion at the end of 2025, reflecting its ongoing investment strategy in healthcare-related real estate.
Looking ahead, National Healthcare Properties expressed optimism about its growth trajectory, citing a strong pipeline of potential acquisitions and a focus on enhancing operational efficiencies. The company remains committed to navigating market challenges, including inflation and labor shortages, while leveraging its diversified portfolio to drive long-term value for shareholders.
About National Healthcare Properties, Inc.
National Healthcare Properties, Inc. is a real estate investment trust (REIT) focused on acquiring, owning, and managing healthcare-related properties, primarily outpatient medical facilities and senior housing operating properties. Its portfolio includes hospitals, clinics, assisted living, and memory care facilities across the U.S., serving healthcare providers and seniors. The company emphasizes diversification, strategic investments, and a strong capital structure within the evolving healthcare industry.
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