National Healthcare Properties

NHP

Market cap $1.17B

As REIT earnings season kicks into gear this week, we preview results and major sector trends based on recent operating indicators, company commentary, and real estate market data. REITs enter earnings season with solid momentum, outperforming the market despite elevated Treasury yields and geopolitical volatility, as investors refocus on earnings growth, property fundamentals, dividends, M&A, and capital allocation. Encouraging green shoots have become more plentiful, including resilient hotel demand, robust senior housing growth, improving apartment and industrial fundamentals, and a rebound in retail leasing following a softer Q1.

Creative, off-market transactions connect existing Discovery capital providers in an aligned structure preserving operational continuity, occupancy, RevPOR and NOI growth Bonita Springs, Florida--(Newsfile Corp. - July 13, 2026) - Discovery Senior Living ("Discovery" or the "Company"), and its affiliated companies, one of the largest and most trusted seniors housing operators in the U.S., today announced it has retained management of a 36-community assisted living portfolio following multi-party transactions between two long-standing capital providers on the Discovery platform, Discovery and certain principals of the Company. Discovery played a central role in the transaction, identifying the parties, facilitating the off-market process, and helping structure an economically aligned framework designed to meet the strategic objectives of all stakeholders while preserving operational continuity across the portfolio.

NEW YORK, July 10, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP) (“NHP”) announced today that it will release its financial results for the quarter ended June 30, 2026 after market close on Wednesday, August 5, 2026.

NEW YORK, July 07, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP) (the “Company”), 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, today provided the following business updates: SHOP Acquisitions of Approximately $197 Million In late June 2026, the Company acquired two senior housing operating portfolio (“SHOP”) communities located in the Midwest with a total of 211 units for a purchase price of $98 million. The communities will be managed by one of the Company's existing operating partners.

I rate National Healthcare Properties a buy, citing its strategic pivot toward senior housing operating properties (SHOP) for accelerated NOI and FFO growth. NHP's SHOP portfolio, with 76% assisted living/memory care and 96% private pay, benefits from favorable demographics, limited new supply, and strong operating leverage. The planned $528.2 million OMF asset sale and robust acquisition pipeline position NHP to shift its earnings base toward higher-growth SHOP assets.

NEW YORK, July 01, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP / NHPAP / NHPBP) (the “Company”) announced today that its Board of Directors declared a quarterly dividend of $0.075 per share of its common stock (including its Class A Common Stock). The dividend will be payable in cash on July 30, 2026 to holders of record at the close of business on July 15, 2026.

NEW YORK, June 22, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP / NHPAP / NHPBP) (“NHP” or the “Company”) announced today that it declared quarterly dividends on its outstanding preferred stock. Specifically, NHP declared a dividend of $0.4609375 per share on its 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock payable on July 15, 2026, to holders of record at the close of business on July 2, 2026. In addition, NHP declared a dividend of $0.4453125 per share on its 7.125% Series B Cumulative Redeemable Perpetual Preferred Stock payable on July 15, 2026, to holders of record at the close of business on July 2, 2026.

NEW YORK, June 22, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP / NHPAP / NHPBP) (the “Company”), 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, today announced the final results of its concurrent but separate offers to purchase up to a maximum aggregate purchase price in cash of $100 million of (i) its 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (the “Series A Shares”), and (ii) its 7.125% Series B Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (the “Series B Shares,” and together with the Series A Shares, the “Shares”), in each case for a purchase price of $22.50 per share in cash (collectively, the “Offers”), each less any applicable withholding taxes and without interest. The Offers each expired at 5:00 p.m., New York City time, on June 16, 2026 (the “Expiration Date”).

National Healthcare Properties is a newly public senior housing REIT transitioning from a troubled non-traded past to internalized management. NHP is rapidly shifting its portfolio toward senior housing operating properties (SHOP), targeting higher organic growth and valuation multiples versus outpatient medical facilities (OMF). Leverage remains high but is set to decline sharply following asset sales and preferred stock repurchases, positioning NHP closer to investment-grade credit metrics.

REITs have refused to break in 2026 despite oil-driven inflation pressure, rising Treasury yields, and a Fed narrative that flipped from multiple rate cuts to potential hikes. The “Rates Up, REITs Down” regime has weakened, with REIT-rate correlations falling sharply as fundamentals, strategy, capital allocation, and valuation catalysts increasingly drive performance. M&A has helped break the rate-driven narrative, validating public-market discounts to NAV and proving that REITs can unlock value through consolidation, privatizations, and strategic alternatives.