National Healthcare Properties Reports Third Quarter 2025 Results

Core Insights - National Healthcare Properties, Inc. reported strong financial performance for the third quarter of 2025, highlighting significant growth in cash net operating income across its segments, particularly in Senior Housing Operating Properties [2][6]. Financial Performance and Other Highlights - The Company achieved a net loss of $(0.56) per basic and diluted share, with Nareit defined Funds from Operations (FFO) of $0.23 per diluted share, and Adjusted Funds from Operations (AFFO) of $0.36 per diluted share [6]. - FFO per share increased by 21.1% quarter-over-quarter, while AFFO per share rose by 12.5% [6]. - Same Store Cash Net Operating Income (NOI) grew by 12.2% year-over-year, with the Senior Housing Operating Property segment experiencing a remarkable 27.2% growth [6]. - The Outpatient Medical Facility segment saw a Same Store Cash NOI growth of 4.7% [6]. - The Company completed the sale of one non-core SHOP for $1.8 million during the quarter [3]. Balance Sheet and Capital - As of September 30, 2025, total debt outstanding was $1.0 billion, with a weighted average interest rate of 5.1% and an average remaining term of 3.5 years [4]. - The Company paid down $83.1 million of debt year-to-date through September 2025, utilizing proceeds from property dispositions [4]. - Net Leverage (Net Debt to Annualized Adjusted EBITDA) improved to 8.9x as of September 30, 2025, a reduction of 0.4x compared to June 30, 2025 [5]. Preferred Stock and Dividends - The Board of Directors declared dividends on preferred stock, including $0.4609375 per share on the 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock and $0.4453125 per share on the 7.125% Series B Cumulative Redeemable Perpetual Preferred Stock, both paid on October 15, 2025 [7]. - The Company repurchased $4.5 million of previously outstanding shares of preferred stock at a weighted average yield of 11.9%, reducing leverage by $2.9 million [8].