National Healthcare Properties (HLTC) AI Stock Analysis

• Market Cap: $215.24M
• Dividend Yield: N/A
• Average Volume (3M): 184.00
• Price to Earnings (P/E): ―
• Beta (1Y): -2.52
• Revenue Growth: -2.72%
• EPS Growth: 69.06%
• Country: US
• Employees: 26
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Healthcare Facilities
• EPS (TTM): N/A
• Shares Outstanding: 28,426,695
• 10 Day Avg. Volume: 152
• 30 Day Avg. Volume: 184
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.33
• Price to Sales (P/S): 0.64
• P/FCF Ratio: -2.23
• Enterprise Value/Market Cap: 0.86
• Enterprise Value/Revenue: 0.71
• Enterprise Value/Gross Profit: 4.66
• Enterprise Value/Ebitda: 2.14
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: $7.00 ▼(-5.41% Downside)

The score is held down primarily by weak financial performance—sharp TTM revenue decline, persistent losses, and negative free cash flow with limited flexibility. Technicals add a modest drag with the stock below key longer-term moving averages and negative MACD, while valuation is constrained by a negative P/E and no dividend yield data to offset profitability risk.

Positive Factors

Sector exposure & demographic tailwind

NHP’s concentrated REIT model in senior housing and skilled nursing aligns with secular aging demographics that drive long-term demand for care space. This structural exposure supports stable occupancy and lease cashflows, underpinning predictable rental income over multiple years.

Improved liquidity via new credit facility

The new $550M committed facilities materially increase liquidity and refinancing flexibility, reducing near-term roll-over risk and enabling capital allocation for acquisitions or capex. Durable access to bank funding supports operational stability through multi-year cycles.

Governance and leadership strengthening

Board declassification, proxy access and an experienced audit chair improve oversight, transparency and capital markets credibility. Stronger governance enhances long-term strategic discipline, risk management and supports better investor stewardship across multi-year planning horizons.

Negative Factors

Declining revenue and persistent losses

Sharp top-line declines and ongoing net losses weaken the firm's ability to self-fund operations or reinvest in assets. Prolonged revenue contraction undermines rent growth prospects and occupancy stability, pressuring long-term profitability and strategic flexibility.

Weak cash generation and negative free cash flow

Negative and deteriorating FCF constrains the company's capacity to service debt, fund maintenance or growth, and return capital. Reliance on external financing for recurring needs raises structural liquidity risk and amplifies vulnerability to tighter credit conditions.

Elevated leverage and balance sheet visibility risk

Historically high leverage and declining equity reduce financial resilience to shocks and limit acquisition firepower. Inconsistent debt reporting creates transparency and refinancing uncertainty, making long-term capital planning and creditor confidence more challenging.

National Healthcare Properties Business Overview & Revenue Model

Company Description

Healthcare Trust, Inc. is a publicly registered real estate investment trust focused on acquiring a diversified portfolio of healthcare real estate, with an emphasis on seniors housing and medical office buildings, located in the United States.

How the Company Makes Money

National Healthcare Properties generates revenue primarily through leasing its healthcare properties to operators who provide medical and residential care services. The company typically enters long-term net leases with these operators, which obligate them to cover property expenses such as maintenance, taxes, and insurance, allowing HLTC to receive consistent rental income. Additionally, HLTC may benefit from periodic rent escalations, which are built into the lease agreements, enhancing revenue growth over time. The company also strategically acquires properties that have the potential for appreciation in value, contributing to its overall earnings through capital gains. Partnerships with reputable healthcare operators and a focus on high-demand markets further strengthen its revenue model.

National Healthcare Properties Financial Statement Overview

Summary

National Healthcare Properties is facing financial difficulties, with declining revenues and persistent losses impacting profitability. The high leverage and negative cash flows present significant risks. The company needs to focus on improving operational efficiency and cash flow management to stabilize its financial position.

Income Statement

National Healthcare Properties has experienced declining revenue growth, with a negative growth rate of -0.99% in the TTM period. The company is facing profitability challenges, as evidenced by negative net profit margins and EBIT margins. The gross profit margin has been relatively stable but insufficient to cover operating expenses, leading to negative net income.

Balance Sheet

The company has a high debt-to-equity ratio, indicating significant leverage, which poses a risk in a rising interest rate environment. The return on equity is negative, reflecting ongoing losses. However, the equity ratio is relatively stable, suggesting some balance sheet resilience.

Cash Flow

Cash flow from operations is negative, and free cash flow has deteriorated significantly, with a negative growth rate of -76.4% in the TTM period. The operating cash flow to net income ratio is unfavorable, indicating cash flow challenges. The company needs to improve its cash generation to support operations and debt obligations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	259.47M	353.79M	345.93M	335.85M	329.36M	381.61M
Gross Profit	39.69M	132.65M	128.13M	122.40M	123.54M	138.06M
EBITDA	86.33M	-22.36M	76.87M	53.76M	42.59M	61.12M
Net Income	-55.24M	-189.70M	-72.30M	-79.62M	-85.18M	-75.81M
Balance Sheet
Total Assets	1.74B	1.95B	2.15B	2.18B	2.21B	2.29B
Cash, Cash Equivalents and Short-Term Investments	47.06M	21.65M	46.41M	53.65M	59.74M	72.36M
Total Debt	0.00	1.15B	1.18B	1.12B	1.09B	1.23B
Total Liabilities	1.11B	1.26B	1.24B	1.18B	1.17B	1.33B
Stockholders Equity	627.22M	684.56M	894.15M	992.64M	1.03B	956.99M
Cash Flow
Free Cash Flow	-19.02M	-101.75M	-773.00K	302.00K	19.81M	19.91M
Operating Cash Flow	3.45M	-79.85M	21.62M	28.30M	38.88M	41.81M
Investing Cash Flow	78.55M	63.97M	-62.82M	-41.78M	-47.92M	-82.49M
Financing Cash Flow	-64.37M	-1.35M	55.97M	4.64M	4.08M	19.43M

National Healthcare Properties Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HLTC, the sentiment is Negative. The current price of 7.4 is below the 20-day moving average (MA) of 7.52, below the 50-day MA of 7.60, and below the 200-day MA of 7.88, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 50.13 is Neutral, neither overbought nor oversold. The STOCH value of 45.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HLTC.

National Healthcare Properties Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STRW	75 Outperform	$174.23M	21.39	52.29%	4.62%	29.76%	22.76%
UHT	69 Neutral	$540.93M	30.11	10.55%	7.51%	0.68%	-1.34%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
CHCT	64 Neutral	$483.73M	-43.42	-2.32%	12.08%	3.40%	-240.85%
GMRE	55 Neutral	$514.53M	-142.66	0.49%	10.01%	2.73%	-131.16%
DHC	49 Neutral	$1.37B	-3.86	-18.84%	0.80%	4.10%	8.96%
HLTC	43 Neutral	$215.24M	-3.27	-11.41%	―	-2.72%	69.06%

National Healthcare Properties Corporate Events

National Healthcare Properties Accelerates Governance Reforms, Adds Director

On January 9, 2026, National Healthcare Properties, Inc. implemented a series of governance and structural changes, including amending its rights agreement to accelerate the expiration of its common share purchase rights to January 12, 2026, after which the rights ceased to be outstanding. Also on January 9 and 12, 2026, the board moved to declassify itself under Maryland law so that all directors will stand for annual election from the 2026 annual meeting, adopted new bylaws that tighten procedures for shareholder nominations, incorporate SEC universal proxy rules, introduce proxy access for long-term shareholders with at least 3% ownership, and remove a prior director qualification requirement. The board further consolidated the former Nominating and Corporate Governance Committee into a newly named Compensation and Corporate Governance Committee to cut costs and streamline oversight, and broadened its opt-out from the Maryland Business Combination Act to exempt business combinations with any party, potentially facilitating strategic transactions. Separately, on January 12, 2026, the company appointed veteran financial executive Scott Humphrey as an independent director and chair of the audit committee, adding extensive capital markets, M&A and governance expertise to support NHP’s growth strategy in healthcare real estate.

The most recent analyst rating on (HLTC) stock is a Hold with a $7.50 price target. To see the full list of analyst forecasts on National Healthcare Properties stock, see the HLTC Stock Forecast page.

National Healthcare Properties Secures New Credit Agreement

On December 11, 2025, National Healthcare Properties, Inc., along with its Operating Partnership and certain subsidiaries, entered into a new credit agreement with Wells Fargo Bank and other lenders. This agreement includes a $400 million senior unsecured revolving credit facility and a $150 million senior unsecured term loan facility, replacing a previous loan agreement from 2019. The new facilities, which mature in 2028, are intended for general corporate purposes and allow for potential increases in lending commitments. The agreement imposes various financial covenants and conditions, with the possibility of prepayment without penalty.

The most recent analyst rating on (HLTC) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on National Healthcare Properties stock, see the HLTC Stock Forecast page.

National Healthcare Properties Appoints New CFO Amid Leadership Change

On November 18, 2025, National Healthcare Properties announced the appointment of Andrew T. Babin as Chief Financial Officer and Treasurer, following the resignation of Scott M. Lappetito. Babin, who previously held significant roles in financial strategy and investor relations, brings extensive experience in capital markets and investor relations, which is expected to enhance NHP’s strategic financial management and support its growth in the healthcare real estate sector. Lappetito’s departure was amicable, and he entered into a separation agreement with the company.

The most recent analyst rating on (HLTC) stock is a Sell with a $5.00 price target. To see the full list of analyst forecasts on National Healthcare Properties stock, see the HLTC Stock Forecast page.