Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2025

The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended March 31,
	2025		2024
Numerator
Net income (loss)	$	50,064	$	11,177
Noncontrolling interests’ share in earnings	(7,236)		(4,501)
Net income (loss) attributable to Healthpeak Properties, Inc.	42,828		6,676
Less: Participating securities’ share in earnings	(464)		(199)



Net income (loss) applicable to common shares - basic and diluted	$	42,364	$	6,477




Denominator
Basic weighted average shares outstanding	699,067		600,898
Dilutive potential common shares - equity awards(1)	51		181

Dilutive potential common shares - OP Units(2)	—		109

Diluted weighted average common shares	699,118		601,188
Earnings (loss) per common share








Basic	$	0.06	$	0.01
Diluted	$	0.06	$	0.01

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(1)For all periods presented, represents the dilutive impact of 1 million outstanding equity awards (restricted stock units and stock options).

(2)For the three months ended March 31, 2025 and 2024, represents the dilutive impact of 5 million and 3 million outstanding OP Units, respectively.