---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-024229"
form_type: "8-K"
ticker: "NHP"
cik: "0001561032"
company_name: "National Healthcare Properties, Inc."
filed_at: "2025-05-09T23:59:59+00:00"
generated_at: "2026-05-22T01:39:40.772265+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NHP Q1 AFFO $0.31/diluted, up from $0.05 YoY; net leverage improves to 9.7x

## Summary
- AFFO $8.8M ($0.31/diluted) vs $1.5M ($0.05) a year ago; net loss improved to $(5.0M) from $(19.0M).
- Same-Store Cash NOI increased 3.9% YoY; SHOP +18.0% to $10.2M, OMF -2.3% to $19.1M.
- Net debt/Annualized Adjusted EBITDA improved to 9.7x from 10.4x QoQ and 14.3x a year ago.
- Completed $177.5M of strategic dispositions in 2025 (16 assets); $23.9M pipeline under contract/LOI.
- Internalization completed in 2024; >$25M annualized cost savings projected; fee fully paid Q1'25.

## SEC filing metadata
- accession: 0001628280-25-024229
- form_type: 8-K
- ticker: NHP
- cik: 0001561032
- company_name: National Healthcare Properties, Inc.
- filed_at: 2025-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1561032/000162828025024229/0001628280-25-024229-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1561032/000162828025024229/hct-20250509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-024229
- JSON: https://secwatch.observer/filing/0001628280-25-024229.json
- Plain text: https://secwatch.observer/filing/0001628280-25-024229.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.