Healthpeak Properties Reports Strong Q4 Performance
Denver-based Healthpeak Properties (DOC) announced its fourth-quarter financial results, exceeding market expectations. The real estate investment trust reported funds from operations (FFO) of $329.3 million, equivalent to 46 cents per share. Analysts' consensus estimate, as per Zacks Investment Research, was 45 cents per share.
FFO is a key performance metric in the REIT industry. It adjusts net income for non-cash expenses such as depreciation and amortization. Healthpeak also reported a net income of $4.4 million or 1 cent per share.
The company's revenue for the period reached $698 million, also surpassing analyst forecasts. Three analysts surveyed by Zacks anticipated revenue of $694.2 million. For the entire year, Healthpeak's FFO totaled $1.25 billion, while revenue amounted to $2.7 billion.
Looking ahead, Healthpeak projects FFO for the upcoming year to range between $1.81 and $1.87 per share.