National Healthcare Properties Q1 FFO $0.31; NOI +12%; $528M Divestment
National Healthcare Properties, Inc. reported a net loss of $(0.27) per share for Q1 2026, alongside strong operational growth with Nareit FFO up 121.4% to $0.31 per diluted share and Normalized FFO up 100.0% to $0.26 per diluted share. The company achieved a 12.0% year-over-year increase in total portfolio Same Store Cash NOI, driven by a 24.0% increase in its Senior Housing Operating Property (SHOP) segment. Strategically, the company announced agreements to divest 86 outpatient medical facilities for $528.2 million and acquire 13 senior living communities for $64.0 million, aligning with its focus on needs-based senior housing. Post-quarter, a public offering raised $531.3 million, used in part to repay $186.0 million in debt, improving its leverage.
Key Highlights
- Q1 Net loss attributable to common stockholders was $(0.27) per basic and diluted share.
- Nareit FFO was $0.31 per diluted share, a 121.4% increase year-over-year.
- Normalized FFO was $0.26 per diluted share, a 100.0% increase year-over-year.
- Total portfolio Same Store Cash Net Operating Income (NOI) grew 12.0% year-over-year.
- Entered agreement to sell 86 outpatient medical facilities for approximately $528.2 million.
- Entered agreement to purchase 13 senior living communities for $64.0 million through a joint venture.
- Completed a public offering of 44,275,000 shares, raising $531.3 million gross proceeds.
- Repaid $186.0 million of outstanding debt, improving Net Leverage to 8.6x from 9.6x.
Price Impact
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