REITResearch

National Healthcare Properties, Inc. NHPBP

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
$22.45
Market cap
$635.65M
Enterprise value
$1.63B
Dividend yieldi
7.93%
Annual dividendi
$1.78
Frequency
Quarterly
FFO / sharei
$0.31 · Q1 2026
Normalized FFO / sharei
$0.26 · Q1 2026
Net debt / EBITDAi
8.60x · Adj. EBITDA
Op. cash flow / sharei
Latest financials not yet filed
Price / OCFi
Latest financials not yet filed
Payout (% of OCF)i
Needs dividends + cash flow
Debt / book capitali
63.91%
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

Ex-dateRecordPaymentDeclaredAmountFreq.
2026-04-062026-04-062026-04-15 2026-03-26$0.45Quarterly
2026-01-022026-01-022026-01-15 2025-12-19$0.45Quarterly
2025-10-032025-10-032025-10-15 2025-09-19$0.45Quarterly
2025-07-032025-07-032025-07-15 2025-06-20$0.45Quarterly
2025-04-042025-04-042025-04-15 2025-03-26$0.45Quarterly
2025-01-032025-01-032025-01-15 2024-12-20$0.45Quarterly
2024-10-042024-10-042024-10-15 2024-09-20$0.45Quarterly
2024-07-05 $0.45Quarterly
2024-04-04 $0.45Quarterly
2024-01-04 $0.45Quarterly
2023-10-05 $0.45Quarterly
2023-07-05 $0.45Quarterly
2023-04-05 $0.45Quarterly
2023-01-05 $0.45Quarterly
2022-10-06 $0.45Quarterly
2022-07-01 $0.45Quarterly
2022-04-07 $0.45Quarterly
2022-01-06 $0.42Quarterly

Coverage (payout of operating cash flow): . Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).

Balance sheet (latest FY: 2025)

Total debt
$1.05B
Cash
$57.62M
Net debt / EBITDAi
13.55x
Debt / book capitali
63.91%
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 $81.98M $75.98M $21.62M
2022 $335.85M $-79.49M $81.44M $53.76M $28.30M
2021 $329.36M $-85.18M $79.73M $42.59M $38.88M
2020 $381.61M $-75.81M $80.97M $61.12M $41.81M

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.