Healthpeak Properties Q2 2024 10-Q Filed

TL;DR

**Healthpeak Properties Q2 2024 10-Q is in! Check financials and strategy.**

AI Summary

Healthpeak Properties, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and operational updates for the second quarter of 2024. Key financial metrics and business developments are presented, reflecting the company's ongoing activities in the real estate investment trust sector.

Why It Matters

This filing provides investors with a detailed look at Healthpeak Properties' financial health and strategic direction for the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a real estate investment trust, Healthpeak Properties is subject to market fluctuations, interest rate changes, and tenant-related risks.

Key Numbers

• 20240630 — Report End Date (Financial reporting period)
• 20240726 — Filing Date (Date the report was submitted to the SEC)
• 2024-01-01 to 2024-06-30 — Fiscal Year-to-Date Period (First six months of fiscal year 2024)
• 2023-01-01 to 2023-06-30 — Prior Year Period (First six months of fiscal year 2023 for comparison)

Key Players & Entities

• HEALTHPEAK PROPERTIES, INC. (company) — Filer
• HCP, INC. (company) — Former Company Name
• HEALTH CARE PROPERTY INVESTORS INC (company) — Former Company Name
• 4600 SOUTH SYRACUSE STREET (location) — Business and Mail Address
• DENVER (location) — City
• CO (location) — State
• 80237 (location) — ZIP Code

FAQ

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value DOC New York Stock Exchange

Filing Documents

• peak-20240630.htm (10-Q) — 2871KB
• ex10106302024.htm (EX-10.1) — 191KB
• ex31106302024.htm (EX-31.1) — 11KB
• ex31206302024.htm (EX-31.2) — 11KB
• ex32106302024.htm (EX-32.1) — 6KB
• ex32206302024.htm (EX-32.2) — 6KB
• 0001628280-24-033154.txt ( ) — 15039KB
• peak-20240630.xsd (EX-101.SCH) — 108KB
• peak-20240630_cal.xml (EX-101.CAL) — 131KB
• peak-20240630_def.xml (EX-101.DEF) — 510KB
• peak-20240630_lab.xml (EX-101.LAB) — 1037KB
• peak-20240630_pre.xml (EX-101.PRE) — 777KB
• peak-20240630_htm.xml (XML) — 2717KB

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 8 Notes to the Consolidated Financial Statements 9 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 41 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 67 Item 4.

Controls and Procedures

Controls and Procedures 68

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 69 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 69 Item 5. Other Information 69 Item 6. Exhibits 70

Signatures

Signatures 71 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) June 30, 2024 December 31, 2023 ASSETS Real estate: Buildings and improvements $ 16,448,690 $ 13,329,464 Development costs and construction in progress 739,318 643,217 Land and improvements 3,005,974 2,647,633 Accumulated depreciation and amortization ( 3,796,108 ) ( 3,591,951 ) Net real estate 16,397,874 13,028,363 Loans receivable, net of reserves of $ 9,143 and $ 2,830 275,478 218,450 Investments in and advances to unconsolidated joint ventures 927,204 782,853 Accounts receivable, net of allowance of $ 2,751 and $ 2,282 59,658 55,820 Cash and cash equivalents 106,886 117,635 Restricted cash 52,409 51,388 Intangible assets, net 1,076,087 314,156 Assets held for sale, net — 117,986 Right-of-use asset, net 440,558 240,155 Other assets, net 843,554 772,044 Total assets $ 20,179,708 $ 15,698,850 LIABILITIES AND EQUITY Bank line of credit and commercial paper $ 25,000 $ 720,000 Term loans 1,645,456 496,824 Senior unsecured notes 6,551,155 5,403,378 Mortgage debt 381,416 256,097 Intangible liabilities, net 227,370 127,380 Liabilities related to assets held for sale, net — 729 Lease liability 313,469 206,743 Accounts payable, accrued liabilities, and other liabilities 709,219 657,196 Deferred revenue 907,852 905,633 Total liabilities 10,760,937 8,773,980 Commitments and contingencies (Note 11) Redeemable noncontrolling interests 1,433 48,828 Common stock, $ 1.00 par value: 1,500,000,000 and 750,000,000 shares authorized; 700,316,807 and 547,156,311 shares issued and outstanding 700,317 547,156 Additional paid-in capital 12,859,567 10,405,780 Cumulative dividends in excess of earnings ( 4,844,683 ) ( 4,621,861 ) Accumulated other comprehensive income (loss) 42,297 19,371 Total stockholders' equity 8,757,498 6,350,446 Joint venture partners 324,681 310,998 Non-managin

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View this 10-Q filing on SEC EDGAR