Here are the 10-Q quarterly reports from National Healthcare Properties, Inc. (NHP) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow NHP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NHP filings page.
National Healthcare Properties, Inc., a healthcare-focused REIT, generated Q2 2026 revenue from tenants of 87,530 (in thousands), up 2.6% year over year. Net loss attributable to common stockholders narrowed to 8,141 (in thousands), or $0.13 per share, from 24,189 (in thousands), or $0.85 per share, driven mainly by a 75.2% reduction in impairment charges and a 19.7% decline in interest expense. Operating income reached 5,086 (in thousands) versus a 5,518 (in thousands) loss a year earlier, and first-half operating cash flow improved to 30,620 (in thousands) from a use of 13,177 (in thousands).
In the senior housing operating portfolio (SHOP), NOI rose 27.0% to 13,013 (in thousands) on higher average occupancy of 84.1% and average monthly revenue per occupied room of $6,391. Outpatient medical facilities (OMF) NOI declined 2.4% to 20,398 (in thousands), though occupancy increased to 93.1%. As of June 30, 2026, the company owned 39 SHOP communities and 130 OMFs with gross asset value of approximately $2.3 billion.
Capital structure and growth activity were significant. In April 2026 the company issued 44,275,000 Class A common shares for aggregate gross proceeds of approximately $531.3 million, using part of the proceeds to repay $186.0 million outstanding on its revolving facility and boosting total stockholders’ equity to 1,054,124 (in thousands). It agreed to sell a portfolio of 86 OMFs for approximately $528.2 million, including about 278.0 million of secured debt to be defeased or assumed, and to sell one non-core SHOP community for approximately $42.0 million. Subsequent to quarter-end, it expanded unsecured credit facilities from $550 million to $1.2 billion, prepaid Fannie Mae Secured Debt, announced multiple SHOP acquisitions totaling $64.0 million, $117.6 million and $120.3 million, and approved full redemption of its Series A and B preferred shares for approximately $153.5 million.
National Healthcare Properties reported a larger net loss for Q1 2026 while reshaping its balance sheet and portfolio. Revenue from tenants was $86.3 million, roughly flat year over year, but net loss widened to $4.3 million, or $0.27 per share, mainly because 2025 benefited from a large gain on property sales that did not recur.
Property operating costs declined and no impairments were recorded, lifting total NOI for the SHOP and OMF segments to $33.4 million, up from $28.6 million. The company ended the quarter with $2.2 billion of real estate investments at cost and total debt of $1.04 billion, a leverage ratio of about 45%.
Subsequent to quarter-end, the company completed a $531.3 million Class A common stock offering, repaid $186.0 million on its revolving credit facility, agreed to sell a portfolio of 86 outpatient medical facilities for approximately $528.2 million including debt defeasance or assumption, and signed agreements to acquire three senior housing communities for roughly $125 million in total. These steps collectively point to an active capital recycling and deleveraging strategy focused on senior housing and selective outpatient assets.