# National Healthcare Properties, Inc. (NHP)

> Source: Nexqual · https://nexqual.com/NHP · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, National Healthcare Properties, Inc. (NHP), nexqual.com/NHP" · informational, not investment advice.

**Price:** USD 14.7 (-1.21% on the day) · last close of Oct 28, 2026; US market closed, not a live price. Prev close 14.88 · day 14.34–14.82 · 52w 11.25–17.46 · market cap $1.07B · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $344M, net income -$45.0M (-13.1% margin) (SEC filings).
- Analysts: None.
- Total return with dividends: 1Y +23.7% vs S&P 500 +13.6%; 5Y +15.5% vs S&P 500 +79.8%.
- Next earnings: 2026-11-04, EPS estimate USD —, revenue estimate $94.5M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $329M | $336M | $346M | $354M | $342M | $344M |
| Gross profit | $124M | $122M | $128M | $132M | $123M | — |
| Operating income | -$37.4M | -$31.5M | -$4.7M | -$124M | $3.3M | $11.0M |
| Net income | -$85.4M | -$79.6M | -$72.4M | -$190M | -$57.7M | -$45.0M |
| EPS (diluted) | -$0.82 | -$3.30 | -$3.04 | -$7.19 | -$2.51 | — |
| Gross margin | 37.5% | 36.4% | 37.0% | 37.4% | 36.0% | — |
| Operating margin | -11.4% | -9.4% | -1.4% | -34.9% | 1.0% | 3.2% |
| Net margin | -25.9% | -23.7% | -20.9% | -53.8% | -16.9% | -13.1% |
| Revenue growth | -13.7% | +2.0% | +3.0% | +2.3% | -3.3% | — |
| Cash + short-term investments | $59.7M | $53.7M | $46.4M | $21.7M | $57.6M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 3.1x · P/B 1.0x · Earnings yield -4.20%

## Analysts
Consensus None.
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | Wells Fargo | Target lowered | Overweight | $19 → $18 |
| 2026-10-13 | Raymond James | Initiated | Outperform | $20 |
| 2026-09-01 | Wells Fargo | Target raised | Overweight | $17 → $19 |
| 2026-08-20 | Baird | Target raised | Outperform | $17 → $18 |
| 2026-08-17 | RBC Capital | Target raised | Sector Perform | $15 → $17 |
| 2026-08-10 | Citizens | Target raised | Market Outperform | $18 → $21 |
| 2026-07-15 | Wells Fargo | Target raised | Overweight | $16 → $17 |

## Total return (dividends reinvested)
|  | 1Y (from 2026-04-22) | 5Y (from 2026-04-20) |
|---|---|---|
| Total return | +23.7% | +15.5% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | — | — |
| Volatility (annualized) | 35.6% | 28.1% |
| Max drawdown | -13.7% (Aug 2026→Oct 2026) | -12.9% (Aug 2026→Oct 2026) |

## Peers (REIT - Healthcare Facilities)
MPT (Medical Properties Trust, Inc.) USD 2.75 +1.10% · DHC (Diversified Healthcare Trust) USD 7.8 +0.52% · UHT (Universal Health Realty Income ) USD 36.76 -0.14% · LTC (LTC Properties, Inc.) USD 42.73 -0.42% · XRN (Chiron Real Estate Inc.) USD 28.77 -0.66% · CHCT (Community Healthcare Trust Inco) USD 12.75 -0.23%

## More
Full page: https://nexqual.com/NHP · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Seniors Housing Communities | $58.3M | 66.7% | +4.0% |
| OMF | $29.2M | 33.3% | -0.2% |
| Total revenue | $87.5M | 100% | — |

## Customer concentration

Period ended 2026-06-30: 10% of revenue from unnamed direct customers (10-Q, filed 2026-08-06).

## Company outlook (8-K filed 2026-08-05)

- "Note : The Company's 2026 guidance contains forward-looking statements and is based on a number of assumptions and estimates, including those identified later in this press release."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | — | — | — | $94.5M | — |
| Next quarter (ends 2026-12-31) | — | — | — | $95.6M | — |
| Current fiscal year (ends 2026-12-31) | — | — | — | $362.5M | — |
| Next fiscal year (ends 2027-12-31) | — | — | — | $354.0M | — |

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-27 | Schedule 13G/A | BlackRock, Inc.: 6.1% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1561032/000201238326003787/0002012383-26-003787-index.htm |
| 2026-10-22 | 8-K | Change to shareholder rights; Other material event — “In connection with the Conversion, the common stock was assigned CUSIP No. 42226B600. The CUSIP number previously assigned to the Class A common stock is no longer in use.” | https://www.sec.gov/Archives/edgar/data/1561032/000156103226000068/0001561032-26-000068-index.htm |
| 2026-10-07 | Schedule 13G/A | PRUDENTIAL FINANCIAL INC: 3.1% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1561032/000113777426000206/0001137774-26-000206-index.htm |
| 2026-10-05 | 25-NSE | Removal from exchange listing | https://www.sec.gov/Archives/edgar/data/1561032/000135445726000950/0001354457-26-000950-index.htm |
| 2026-09-29 | 8-K | Entered a material agreement — “Entry into a Material Agreement On September 25, 2026, certain termination rights of the purchaser terminated under the purchase and sale agreement (the "PSA"), dated as of July 15, 2026, as amended from time to time, by and among certain subsidiaries of National Healthcare Properties, Inc. (the "Company") and an unaffiliated third party to sell the Company's portfolio of 40 outpatient medical facilities for approximately $531 million (before transaction expenses, property operating prorations and capital…” | https://www.sec.gov/Archives/edgar/data/1561032/000156103226000066/0001561032-26-000066-index.htm |
| 2026-09-14 | 8-K | Director or executive officer change, or pay arrangement — “On September 11, 2026, Edward M. Weil, Jr. notified National Healthcare Properties, Inc. (the "Company") of his decision to resign from the board of directors of the Company, effective as of September 11, 2026. Mr. Weil's decision was not a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.” | https://www.sec.gov/Archives/edgar/data/1561032/000156103226000063/0001561032-26-000063-index.htm |
| 2026-09-10 | 8-K | Completed an acquisition or sale of assets — “On September 10, 2026, National Healthcare Properties, Inc., a Maryland corporation (the "Company"), through certain subsidiaries (collectively, the "Sellers") of its operating partnership, National Healthcare Properties Operating Partnership, L.P., a Delaware limited partnership (the "OP"), consummated the closing of the first tranche of the previously announced sale of a portfolio of 86 outpatient medical facilities (the "Portfolio") to an unaffiliated third party (the "Buyer"), pursuant to that certain Purchase…” | https://www.sec.gov/Archives/edgar/data/1561032/000156103226000058/0001561032-26-000058-index.htm |
| 2026-09-03 | 25-NSE | Removal from exchange listing | https://www.sec.gov/Archives/edgar/data/1561032/000135445726000856/0001354457-26-000856-index.htm |
| 2026-08-14 | Schedule 13G | Alyeska Investment Group, L.P., Alyeska Fund GP, LLC: 5.8% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1561032/000117266126003801/0001172661-26-003801-index.htm |
| 2026-08-14 | Schedule 13G | Rush Island Management LP, Rush Island Master, LP: 5.8% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1561032/000121465926010353/0001214659-26-010353-index.htm |
| 2026-08-14 | Schedule 13G | passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1561032/000101143826000534/0001011438-26-000534-index.htm |
| 2026-08-13 | Schedule 13G | passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1561032/000108560126000008/0001085601-26-000008-index.htm |
| 2026-08-10 | Schedule 13G | passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1561032/000114036126031976/0001140361-26-031976-index.htm |
| 2026-08-06 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1561032/000156103226000055/0001561032-26-000055-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.