National Healthcare Properties (HLTC) AI Stock Analysis

• Market Cap: $217.23M
• Dividend Yield: N/A
• Average Volume (3M): 184.00
• Price to Earnings (P/E): ―
• Beta (1Y): -2.67
• Revenue Growth: -2.72%
• EPS Growth: 69.06%
• Country: US
• Employees: 26
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Healthcare Facilities
• EPS (TTM): -0.18
• 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: 0.85
• 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: 37 Underperform
• Price Target: $5.00 ▼(-32.43% Downside)

The overall stock score for HLTC is heavily impacted by poor financial performance, with declining revenues, high leverage, and negative cash flows posing significant risks. Technical analysis supports a bearish outlook, with the stock trading below key moving averages and momentum indicators in oversold territory. Valuation metrics further highlight profitability challenges, resulting in a low overall score.

Positive Factors

New Credit Agreement

The new $400 million revolving credit facility and $150 million term loan enhance liquidity and financial flexibility, supporting long-term growth and operational stability.

Leadership Change

The new CFO brings extensive experience in financial strategy and investor relations, likely improving financial management and supporting strategic growth.

Revenue Model

The business model of long-term net leases with periodic rent escalations ensures stable revenue streams and potential growth, enhancing financial predictability.

Negative Factors

High Leverage

High leverage poses a risk in a rising interest rate environment, potentially straining financial resources and limiting strategic flexibility.

Negative Cash Flow

Negative cash flow from operations indicates challenges in generating sufficient cash to support operations and debt obligations, impacting financial stability.

Declining Revenue

Declining revenue growth reflects challenges in maintaining market position and could hinder long-term profitability and expansion efforts.

National Healthcare Properties Business Overview & Revenue Model

Company Description

National Healthcare Properties (HLTC) is a real estate investment trust (REIT) focused on acquiring, owning, and managing healthcare-related properties across the United States. The company primarily invests in senior housing, skilled nursing facilities, and other healthcare real estate assets, catering to the growing demand for healthcare services driven by an aging population. HLTC aims to provide stable and attractive returns for its investors by leveraging its expertise in the healthcare sector and maintaining a diversified portfolio of properties.

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: Neutral
• Last Price: 7.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HLTC, the sentiment is Neutral. The current price of 7.4 is below the 20-day moving average (MA) of 7.67, below the 50-day MA of 7.78, and below the 200-day MA of 7.81, indicating a bearish trend. The MACD of -0.21 indicates Positive momentum. The RSI at 50.61 is Neutral, neither overbought nor oversold. The STOCH value of 28.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	$170.43M	20.92	52.29%	4.62%	29.76%	22.76%
UHT	69 Neutral	$544.82M	30.32	10.55%	7.51%	0.68%	-1.34%
CHCT	66 Neutral	$444.44M	-39.89	-2.32%	12.08%	3.40%	-240.85%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
DHC	58 Neutral	$1.21B	-3.42	-18.84%	0.80%	4.10%	8.96%
GMRE	55 Neutral	$479.74M	-133.01	0.49%	10.01%	2.73%	-131.16%
HLTC	37 Underperform	$217.23M	-3.30	-11.41%	―	-2.72%	69.06%

National Healthcare Properties Corporate Events

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.

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.