Every 10-Q that National Healthcare Properties, Inc. 7.125% Series B Cumulative Redeemable Perpetual Preferred Stock (NHPBP) has filed with the SEC in the last 24 months is listed below, 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 NHPBP 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 NHPBP 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.
National Healthcare Properties, Inc. reported a narrower quarterly loss while continuing to streamline its balance sheet. For Q3, revenue from tenants was $86.0 million versus $88.9 million a year ago, and net loss attributable to common stockholders was $15.9 million (basic and diluted EPS $(0.56)), improving from $44.1 million last year. Year to date, revenue from tenants was $257.8 million, with a net loss attributable to common stockholders of $45.1 million.
Total assets were $1.74 billion, down from $1.95 billion at year-end, reflecting property sales and lower real estate balances. Net real estate investments declined to $1.54 billion. Debt balances included mortgage notes payable, net of $696.8 million, and Fannie Mae secured debt of $336.2 million. Operating expenses benefited from the absence of related-party operating and termination fees seen in 2024, partially offset by $6.6 million of Q3 impairment charges. The company recorded a Q3 gain on sale of real estate of $0.6 million and year-to-date gains of $28.3 million.
Cash from operations was a modest use of $3.0 million year to date, while investing provided $73.1 million (driven by $90.3 million of sale proceeds). Financing used $41.7 million, including debt repayments and preferred stock repurchases. As of October 30, 2025, common shares outstanding were 28,426,694.