A month has gone by since the last earnings report for Healthpeak . Shares have lost about 3.5% in that time frame, outperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Healthpeak due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Healthpeak Q4 FFO Meets Estimates, Revenues Rise Y/Y
Healthpeak Properties reported fourth-quarter 2021 FFO as adjusted of 41 cents per share, in line with the Zacks Consensus Estimate. The reported figure also remained flat year over year.
The healthcare REIT generated revenues of $483.2 million, lagging the Zacks Consensus Estimate of $484.3 million. The figure was, however, 11.9% higher than the year-ago number.
The performance was backed by solid revenue growth. However, weakness in the CCRC portfolio affected the company.
Behind the Headlines
For fourth-quarter 2021, the company registered 2.7% growth in the adjusted cash same-store portfolio NOI.
It witnessed 5.4% and 3.6% year-over-year growth in the cash same-store portfolio NOI for its life-science and medical office segments, respectively. However, cash same-store portfolio NOI for the CCRC portfolio declined 9.6% year over year.
Portfolio Activity
In 2021, the company closed the buyouts worth $658 million for life science and $834 million for medical office buildings.
In 2021, Healthpeak’s senior housing dispositions aggregated gross proceeds of $4 billion from closed dispositions since July 2020.
Liquidity
Healthpeak had cash and cash equivalents of $158.3 million as of Dec 31, 2021, up from $44.2 million recorded at the end of 2020. As of the fourth-quarter end, net debt to adjusted EBITDAre was 5.3X.
Outlook
Healthpeak provided the guidance for 2022. The company expects FFO per share as adjusted of $1.68-$1.74.
Same-store cash-adjusted NOI growth is expected to be 3.25-4.75% for the total portfolio.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates revision.
VGM Scores
At this time, Healthpeak has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of this revision has been net zero. Notably, Healthpeak has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Why Is Healthpeak (PEAK) Down 3.5% Since Last Earnings Report?
A month has gone by since the last earnings report for Healthpeak . Shares have lost about 3.5% in that time frame, outperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Healthpeak due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Healthpeak Q4 FFO Meets Estimates, Revenues Rise Y/Y
Healthpeak Properties reported fourth-quarter 2021 FFO as adjusted of 41 cents per share, in line with the Zacks Consensus Estimate. The reported figure also remained flat year over year.
The healthcare REIT generated revenues of $483.2 million, lagging the Zacks Consensus Estimate of $484.3 million. The figure was, however, 11.9% higher than the year-ago number.
The performance was backed by solid revenue growth. However, weakness in the CCRC portfolio affected the company.
Behind the Headlines
For fourth-quarter 2021, the company registered 2.7% growth in the adjusted cash same-store portfolio NOI.
It witnessed 5.4% and 3.6% year-over-year growth in the cash same-store portfolio NOI for its life-science and medical office segments, respectively. However, cash same-store portfolio NOI for the CCRC portfolio declined 9.6% year over year.
Portfolio Activity
In 2021, the company closed the buyouts worth $658 million for life science and $834 million for medical office buildings.
In 2021, Healthpeak’s senior housing dispositions aggregated gross proceeds of $4 billion from closed dispositions since July 2020.
Liquidity
Healthpeak had cash and cash equivalents of $158.3 million as of Dec 31, 2021, up from $44.2 million recorded at the end of 2020. As of the fourth-quarter end, net debt to adjusted EBITDAre was 5.3X.
Outlook
Healthpeak provided the guidance for 2022. The company expects FFO per share as adjusted of $1.68-$1.74.
Same-store cash-adjusted NOI growth is expected to be 3.25-4.75% for the total portfolio.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates revision.
VGM Scores
At this time, Healthpeak has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of this revision has been net zero. Notably, Healthpeak has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.