HealthPeak CFO Resigns, Revenue Up 5%

By Tamara Parker • Monday, April 07 10:02 • Permanent Link

HealthPeak Properties, Inc. (NYSE: DOC) has announced a leadership update as Peter Scott resigns as the Chief Financial Officer to assume the role of Chief Executive Officer of Healthcare Realty Trust Incorporated (NYSE: HR). Scott Brinker, the company's President and CEO, thanked Scott for his eight years of service as they undertook a major project to reposition and strengthen their portfolio, balance sheet, and platform. The company expects to name an internal successor in the coming weeks as part of their thorough succession plan.

Now, let's turn our attention to the financial metrics. In its most recent financial release, HealthPeak Properties reported a $789.5 million total revenue for the period, representing a 5% increase from the previous year's figure. Additionally, the company reported a net income of $189.7 million, indicating a significant 13% rise compared to the same period last year.

Moving on to the balance sheet, the company disclosed total assets of $15.2 billion, reflecting a 6% increase from the prior period. Furthermore, HealthPeak Properties reported total liabilities of $6.3 billion, marking a 4% increase from the same period last year.

In terms of operational metrics, the company revealed a 3% increase in its funds from operations (FFO), reaching $345.6 million for the period. Additionally, the company reported a 2% rise in its net operating income (NOI), amounting to $520.3 million.

These figures demonstrate the company's continued growth and financial strength in the real estate investment trust (REIT) sector. As HealthPeak Properties navigates this leadership transition, investors will be keenly observing the appointment of the internal successor and the company's strategic direction in the coming quarters. Following these announcements, the company's shares moved -3.9%, and are now trading at a price of $17.72. For more information, read the company's full 8-K submission here.

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