Healthpeak Properties, Inc. Files 10-Q for Q1 2024

Ticker: DOC · Form: 10-Q · Filed: Apr 26, 2024 · CIK: 765880

Healthpeak Properties, INC. 10-Q Filing Summary
FieldDetail
CompanyHealthpeak Properties, INC. (DOC)
Form Type10-Q
Filed DateApr 26, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$1.00
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, real-estate, financials

Related Tickers: DOC

TL;DR

**DOC filed its Q1 2024 10-Q. All systems go.**

AI Summary

Healthpeak Properties, Inc. (DOC) reported its quarterly results for the period ending March 31, 2024. The company is a Maryland-incorporated entity with its principal executive offices in Denver, CO. It is registered with the SEC under file number 001-08895 and its common stock trades on the New York Stock Exchange under the symbol DOC.

Why It Matters

This filing provides investors with the latest financial performance and operational details of Healthpeak Properties, Inc., a significant player in the real estate sector.

Risk Assessment

Risk Level: low — This is a standard quarterly report filing with no immediate red flags or significant new disclosures that would indicate elevated risk.

Key Players & Entities

FAQ

What is the primary business of Healthpeak Properties, Inc.?

The filing does not explicitly state the primary business, but it is a publicly traded company with common stock listed on the NYSE under the symbol DOC.

Where are Healthpeak Properties, Inc.'s principal executive offices located?

Healthpeak Properties, Inc.'s principal executive offices are located at 4600 South Syracuse Street, Suite 500, Denver, CO 80237.

What is the par value of Healthpeak Properties, Inc.'s common stock?

The par value of Healthpeak Properties, Inc.'s common stock is $1.00.

Has Healthpeak Properties, Inc. filed all required reports for the preceding 12 months?

The filing indicates 'Yes' for having filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

Has Healthpeak Properties, Inc. submitted all Interactive Data Files electronically?

The filing indicates 'Yes' for having submitted electronically every Interactive Data File required by Rule 405 of Regulation S-T during the preceding 12 months.

Filing Stats: 4,503 words · 18 min read · ~15 pages · Grade level 18.9 · Accepted 2024-04-26 16:43:39

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited): 3 Consolidated Balance Sheets 3 Consolidated Statements of Operations 4 Consolidated Statements of Comprehensive Income (Loss) 5 Consolidated Statements of Equity and Redeemable Noncontrolling Interests 6 Consolidated Statements of Cash Flows 7 Notes to the Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 37 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 58 Item 4.

Controls and Procedures

Controls and Procedures 59

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 60 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60 Item 5. Other Information 60 Item 6. Exhibits 61

Signatures

Signatures 63 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Healthpeak Properties, Inc. CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) (Unaudited) March 31, 2024 December 31, 2023 ASSETS Real estate: Buildings and improvements $ 16,571,761 $ 13,329,464 Development costs and construction in progress 735,176 643,217 Land and improvements 3,079,225 2,647,633 Accumulated depreciation and amortization ( 3,723,173 ) ( 3,591,951 ) Net real estate 16,662,989 13,028,363 Loans receivable, net of reserves of $ 9,334 and $ 2,830 267,798 218,450 Investments in and advances to unconsolidated joint ventures 930,559 782,853 Accounts receivable, net of allowance of $ 2,800 and $ 2,282 68,567 55,820 Cash and cash equivalents 101,763 117,635 Restricted cash 55,395 51,388 Intangible assets, net 1,160,446 314,156 Assets held for sale, net — 117,986 Right-of-use asset, net 434,010 240,155 Other assets, net 860,513 772,044 Total assets $ 20,542,040 $ 15,698,850 LIABILITIES AND EQUITY Bank line of credit and commercial paper $ 183,000 $ 720,000 Term loans 1,645,180 496,824 Senior unsecured notes 6,545,209 5,403,378 Mortgage debt 382,406 256,097 Intangible liabilities, net 238,760 127,380 Liabilities related to assets held for sale, net — 729 Lease liability 307,119 206,743 Accounts payable, accrued liabilities, and other liabilities 717,191 657,196 Deferred revenue 923,676 905,633 Total liabilities 10,942,541 8,773,980 Commitments and contingencies (Note 11) Redeemable noncontrolling interests 54,848 48,828 Common stock, $ 1.00 par value: 1,500,000,000 and 750,000,000 shares authorized; 703,733,446 and 547,156,311 shares issued and outstanding 703,733 547,156 Additional paid-in capital 12,918,936 10,405,780 Cumulative dividends in excess of earnings ( 4,779,599 ) ( 4,621,861 ) Accumulated other comprehensive income (loss) 38,543 19,371 Total stockholders' equity 8,881,613 6,350,446 Joint venture partners 328,430 310,998 Non-mana

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