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Healthpeak Properties raises annual FFO forecast on resilient demand
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Healthpeak Properties raises annual FFO forecast on resilient demand
Jul 25, 2024 4:00 PM

July 25 (Reuters) - Healthpeak Properties ( DOC ) on

Thursday marginally raised its annual funds from operations

(FFO) forecast on the back of resilient demand for the real

estate investment trust's (REIT) medical office and life science

properties.

The U.S. healthcare-centric company now sees its 2024

adjusted FFO, a key performance measure for REITs, in the range

of $1.77 to $1.81 per share, compared with its previous

forecast of $1.76 to $1.80.

Analysts on average were expecting adjusted FFO of $1.77 per

share, according to LSEG data.

The REIT owns medical office and life science properties, as

well as senior housing, hospital sites and recovery care assets.

Demand for the outpatient & life science sites owned by the

company has been buoyed by a jump in patient visits and has

created a favourable leasing environment.

The company also had better occupancy rates at its

senior housing and retirement facilities that cater to older

adults, benefiting from an ageing population.

The Denver, Colorado-based firm posted adjusted FFO of 45

cents per share in the second quarter, compared with analysts'

estimate of 44 cents per share.

Total revenue of $695.5 million for the quarter ended June

30 beat estimates of $668.71 million.

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