REITResearch

National Healthcare Properties, Inc. NHP

Listed / Traded Health Care NASDAQ Mgmt:

National Healthcare Properties, Inc. (Nasdaq: NHP) is a self-managed real estate investment trust focused on acquiring, owning and investing in a diversified portfolio of healthcare real estate, with an emphasis on providing senior housing to serve a growing elderly population in the United States.

Snapshot

Price
$13.49
Market cap
$227.58M
Enterprise value
$1.22B
Dividend yieldi
No regular dividend (or irregular payouts — see filings)
Annual dividendi
No regular dividend (or irregular payouts — see filings)
Frequency
Not reported
FFO / sharei
$0.31 · Q1 2026
Normalized FFO / sharei
$0.26 · Q1 2026
Net debt / EBITDAi
8.60x · Adj. EBITDA
Op. cash flow / sharei
$0.25
Price / OCFi
54.95
Payout (% of OCF)i
Needs dividends + cash flow
Debt / book capitali
63.53%
Premium / disc. to NAVi
No free consensus-NAV source
Credit ratingi
No free ratings feed

Reported FFO / Normalized FFO / leverage are from the Q1 2026 earnings release (filed 2026-05-13) — 8-K, EX-99.1.

Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.

Dividends

No dividend history on record.

Balance sheet (latest FY: 2025)

Total debt
$1.05B
Cash
$57.62M
Net debt / EBITDAi
11.71x
Debt / book capitali
63.53%
Total assets
$1.71B
Total equity
$600.06M

Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.

Financial history

FYRevenueNet incomeD&A EBITDAOp. cash flow
2025 $342.28M $-57.62M $78.26M $82.02M $6.95M
2024 $353.79M $-189.70M $84.07M $-36.49M $-79.85M
2023 $345.93M $-72.30M $82.87M $76.87M $21.62M
2022 $335.85M $-79.49M $82.06M $54.38M

Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.