HEALTHPEAK PROPERTIES, INC.
For the period ended Sep 30, 2026. Filed Nov 3, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 3, 2026
DOC$20.41-1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
(In thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $299,584 | $(20,765) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization of real estate, in-place lease, and other intangibles | 872,047 | 796,779 |
| Stock-based compensation amortization expense | 14,170 | 10,410 |
| Stock-based compensation issued as part of initial public offering of Janus Living, Inc. | 4,872 | — |
| Amortization of deferred financing costs and debt discounts (premiums) | 25,879 | 23,708 |
| Straight-line rents | (35,964) | (30,836) |
| Amortization of above (below) market lease intangibles | (19,466) | (28,402) |
| Amortization of non-refundable entrance fees | (84,812) | (71,813) |
| Equity loss (income) from unconsolidated joint ventures | (10,516) | 176,691 |
| Distributions of earnings from unconsolidated joint ventures | 1,739 | 16,861 |
| Deferred income tax expense (benefit) | (2,439) | (131) |
| Impairments and loan loss reserves (recoveries), net | (3,964) | (117) |
| Loss (gain) on debt extinguishments | 403 | — |
| Loss (gain) on sales of real estate, net | (60,657) | (13,136) |
| Loss (gain) upon change of control, net | (138,343) | — |
| Casualty-related loss (recoveries), net | (5,950) | 9,825 |
| Other non-cash items | (14,680) | (7,826) |
| Changes in: | ||
| Decrease (increase) in accounts receivable and other assets | 27,222 | 9,756 |
| Increase (decrease) in accounts payable, accrued liabilities, and other liabilities | (14,204) | (18,087) |
| Increase (decrease) in deferred revenue | 121,519 | 104,958 |
| Net cash provided by (used in) operating activities | 976,440 | 957,875 |
| Cash flows from investing activities: | ||
| Acquisitions of real estate and deposits | (2,307,282) | (43,880) |
| Joint venture buyout, net | (400,902) | — |
| Development, redevelopment, and other major improvements of real estate | (444,091) | (547,087) |
| Leasing costs, tenant improvements, and recurring capital expenditures | (103,678) | (76,125) |
| Proceeds from sales of real estate, net | 146,702 | 30,839 |
| Proceeds from the BX JV I and II transaction, net | 162,801 | — |
| Investments in unconsolidated joint ventures | (3,123) | (76,329) |
| Distributions in excess of earnings from unconsolidated joint ventures | 23,084 | 22,745 |
| Proceeds from insurance recovery | 13,969 | 12,214 |
| Proceeds from sales/principal repayments on loans receivable and other | 403,839 | 125,927 |
| Investments in loans receivable and other | (70,297) | (77,357) |
| Net cash provided by (used in) investing activities | (2,578,978) | (629,053) |
| Cash flows from financing activities: | ||
| Borrowings under bank line of credit and commercial paper | 21,494,850 | 9,435,650 |
| Repayments under bank line of credit and commercial paper | (21,084,200) | (9,217,525) |
| Issuances and borrowings of term loans, senior unsecured notes, and mortgage debt | — | 987,260 |
| Repayments and repurchases of term loans, senior unsecured notes, and mortgage debt | (894,775) | (806,492) |
| Payments for debt extinguishment and deferred financing costs | (8,663) | (2,604) |
| Issuance of common stock, net of offering costs | 796 | 304 |
| Repurchase of common stock | (101,660) | (97,058) |
| Dividends paid on common stock | (632,541) | (637,234) |
| Distributions to and redemption of noncontrolling interests | (195,373) | (28,820) |
| Proceeds from Janus Living public offerings, net of underwriting fees | 2,107,448 | — |
| Proceeds from the Brookfield JV transaction | 1,001,793 | — |
| Contributions from and issuance of noncontrolling interests | 760 | 13,124 |
| Noncontrolling interest issuance costs | (17,777) | — |
| Net cash provided by (used in) financing activities | 1,670,658 | (353,395) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 68,120 | (24,573) |
| Cash, cash equivalents, and restricted cash, beginning of period | 537,702 | 184,305 |
| Cash, cash equivalents, and restricted cash, end of period | $605,822 | $159,732 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.