(Reuters) – Healthpeak Properties raised the lower-end of its annual funds from operations (FFO) forecast on Thursday, banking on steady demand for its medical office and life science properties.
The U.S. healthcare-centric company now expects its 2024 adjusted FFO, a key performance measure for real estate investment trusts, to be in the range of $1.79 to $1.81 per share, compared to its previous estimate of $1.77 to $1.81 per share.
Analysts, on average, were expecting adjusted FFO of $1.79 per share, as per data compiled by LSEG.
Demand for the outpatient & life science sites owned by the company has benefited from a rise in patient visits, creating a favorable leasing environment.
The Denver, Colorado-based firm posted adjusted FFO of 45 cents per share in the third quarter, largely in line with analysts’ estimate of 44 cents per share.
The company reported total revenue of $700.40 million for the quarter ended Sept. 30, beating estimates of $680.25 million.
The REIT owns medical office and life science assets, as well as senior housing, hospital and post-acute care assets.
Healthpeak’s lab portfolio is mainly concentrated in San Francisco and San Diego, California, as well as in Boston, Massachusetts.
(Reporting by Sneha S K; editing by Alan Barona)
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