Key Highlights

  • National Healthcare Properties’ $0.075 quarterly common Dividend trades ex-dividend October 9, 2026, with payment on October 16.
  • Senior housing same-store cash NOI rose 20.1% year over year, and 2026 guidance was raised to 15.0% to 18.0%.
  • The second-quarter net loss attributable to common stockholders narrowed to $(8,141) thousand, or $(0.13) per share, from $(0.85).
  • The company recast its Credit Facility to $1.2 billion and called all Series A and B preferred stock for redemption.

National Healthcare Properties, Inc. (NASDAQ:NHP) declared a quarterly common dividend of $0.075 per share, a Yield of 1.95%, payable October 16, with shares trading ex-dividend on October 9, 2026. The company reported a second-quarter net loss attributable to common stockholders of $(0.13) per share. Revenue from tenants was $87,530 thousand.

Dividend Program and Shareholder Returns

The company announced the $0.075 quarterly common dividend on October 1, 2026, payable October 16 in cash, applying to its common stock including Class A Common Stock. The shares trade ex-dividend on October 9.

The company declared the same $0.075 amount on July 1, paid July 30. The $0.075 quarterly amount equals $0.30 on an annualized basis, a computed figure. The company also paid preferred dividends of $0.4609375 per Series A share and $0.4453125 per Series B share on July 15. Each dividend remains subject to board approval.

About the Company

National Healthcare Properties, Inc. is a healthcare real estate company that owned 170 properties at June 30, 2026, compared with 168 at March 31. The portfolio comprised 130 outpatient medical facilities, 39 senior housing operating portfolio (SHOP) communities and one land parcel. In April 2026, the company completed its public offering of 44,275,000 Class A shares for about $531.3 million of gross proceeds.

Second-Quarter Revenue, Losses and Impairments

Revenue from tenants was $87,530 thousand, compared with $85,332 thousand, and first-half revenue was $173,815 thousand, compared with $171,775 thousand. Operating Income was $5,086 thousand. Impairment charges were $3,780 thousand, compared with $15,212 thousand.

The net loss attributable to common stockholders was $(8,141) thousand, or $(0.13) per share, compared with $(24,189) thousand, or $(0.85). For six months, the loss to common stockholders was $(15,744) thousand, or $(0.35) per share, compared with $(29,208) thousand, or $(1.03).

SHOP Performance, Acquisitions and Guidance

SHOP same-store cash NOI growth was 20.1%, with average occupancy of 84.1%, up 1.4% year over year. Guidance for 2026 SHOP same-store cash NOI growth was raised to 15.0% to 18.0% from 13.0% to 16.0%. SHOP revenue from tenants was $58,348 thousand, compared with $56,081 thousand.

Completed acquisitions were two Midwest SHOP communities for $98 million, 16 communities for about $166 million, and one Iowa community for about $16 million. Pending acquisitions are about $30 million in Illinois and $90 million in Florida, and the company cited $400 million of 2026 SHOP acquisitions completed or under definitive agreement.

Capital Structure and Preferred Stock

Cash was $245,695 thousand at June 30, compared with $57,620 thousand at December 31, and the revolver balance was zero, compared with $186,000 thousand. In August, the company entered a $1.2 billion credit agreement with a $750 million revolver, a $300 million term Loan and a new $150 million delayed draw term loan.

The company elected to redeem all Series A (7.375%) shares on September 4 at $25.32 and all Series B (7.125%) shares on October 6 at $25.47.

Earnings and Portfolio Relationships

SHOP revenue equals 66.7% of second-quarter revenue from tenants, a computed ratio. The loss to common stockholders narrowed by $16.0 million, and impairments fell $11.4 million, both computed. Completed acquisitions of $98 million, $166 million and $16 million total $280 million, which with $120 million pending equals the $400 million cited.

Outlook

National Healthcare Properties’ $0.075 quarterly common dividend is payable October 16, with shares trading ex-dividend on October 9, 2026. The 15.0% to 18.0% SHOP guidance, the pending Illinois and Florida acquisitions, the preferred stock redemptions, and the recast credit facility are the relevant considerations.