| Schedule of Computation of Basic and Diluted Earnings Per Share |
The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator - Basic | | | | | | | | | Net income (loss) | $ | 63,241 | | | $ | 39,019 | | | $ | 262,897 | | | $ | 89,083 | | | Noncontrolling interests’ share in earnings | (10,423) | | | (7,346) | | | (16,446) | | | (14,582) | | | Net income (loss) attributable to Healthpeak Properties, Inc. | 52,818 | | | 31,673 | | | 246,451 | | | 74,501 | | Less: Participating securities’ share in earnings | (150) | | | (115) | | | (299) | | | (579) | | | Net income (loss) applicable to common shares | $ | 52,668 | | | $ | 31,558 | | | $ | 246,152 | | | $ | 73,922 | | | | | | | | | | | Numerator - Dilutive | | | | | | | | | Net income (loss) applicable to common shares | $ | 52,668 | | | $ | 31,558 | | | $ | 246,152 | | | $ | 73,922 | | | Add: distributions on dilutive convertible units and other | — | | | — | | | 60 | | | — | | | Dilutive net income (loss) available to common shares | $ | 52,668 | | | $ | 31,558 | | | $ | 246,212 | | | $ | 73,922 | | | Denominator | | | | | | | | | Basic weighted average shares outstanding | 689,885 | | | 695,188 | | | 692,508 | | | 697,117 | | Dilutive potential common shares - equity awards(1) | — | | | 6 | | | 4 | | | 29 | | | | | | | | | | Dilutive potential common shares - OP Units(2) | — | | | — | | | 331 | | | — | | | | | | | | | | | | | | | | | | | Diluted weighted average common shares | 689,885 | | | 695,194 | | | 692,843 | | | 697,146 | | | Earnings per common share | | | | | | | | | Basic | $ | 0.08 | | | $ | 0.05 | | | $ | 0.36 | | | $ | 0.11 | | | Diluted | $ | 0.08 | | | $ | 0.05 | | | $ | 0.36 | | | $ | 0.11 | |
_______________________________________ (1)For all periods presented, represents the dilutive impact of 1 million outstanding equity awards (restricted stock units). (2)For the three months ended June 30, 2026, all 6 million outstanding OP Units were not included because they were anti-dilutive. For the six months ended June 30, 2026, represents the dilutive impact of 6 million outstanding OP Units. For the three and six months ended June 30, 2025, all 4 million outstanding OP Units were not included because they were anti-dilutive.
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