National Healthcare Properties Declares Quarterly Dividends on Preferred Stock
National Healthcare Properties, a self-managed REIT focused on senior housing and outpatient medical facilities, declared quarterly dividends on both series of its preferred stock, payable January 15, 2026.
National Healthcare Properties, Inc., a real estate investment trust specializing in senior housing and outpatient medical facilities, declared quarterly cash dividends on its outstanding preferred stock on December 19, 2025. The company's Board of Directors approved dividends on both its Series A and Series B preferred shares. Read more dividend announcements.
The 7.375% Series A Preferred Stock (NASDAQ: NHPAP) will pay $0.4609375 per share to holders of record as of January 2, 2026. The 7.125% Series B Preferred Stock (NASDAQ: NHPBP) will pay $0.4453125 per share to the same record date shareholders. Both dividends were paid on January 15, 2026.
| Security | Amount Per Share | Record Date | Payment Date |
|---|---|---|---|
| 7.375% Series A Preferred (NHPAP) | $0.4609375 | January 2, 2026 | January 15, 2026 |
| 7.125% Series B Preferred (NHPBP) | $0.4453125 | January 2, 2026 | January 15, 2026 |
Portfolio and Financial Performance
The company reported full year 2025 portfolio Same Store Cash NOI growth of 9.0% year-over-year. The SHOP segment posted Same Store Cash NOI growth of 21.8%, while the OMF segment grew 2.9%.
National Healthcare Properties completed $202.5 million in dispositions during 2025, selling seven Non-Core SHOPs and 18 Non-Core OMFs. The company also repurchased preferred stock with an aggregate liquidation preference of approximately $8.6 million at a weighted average yield of 11.5%, representing a $9.27 discount to the $25 per share liquidation preference.
Balance Sheet Metrics
As of December 31, 2025, total debt outstanding stood at approximately $1.0 billion with a weighted average economic interest rate of 5.75% and an average remaining term of 3.9 years. Net Leverage improved to 9.2x from 10.3x at December 31, 2024.
On December 11, 2025, the company entered into a $400 million senior unsecured revolving credit facility and a $150 million senior unsecured term loan, both maturing in December 2028. Proceeds were used to pay off a previous $330 million secured term loan that was scheduled to mature in December 2026.