TakeoverPE & activists

NHPNational Healthcare Properties, Inc.

Real Estate Investment Trusts · $428M market cap

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

0of 15 firedHow well they predict deals →

No signals fired.

15 other checks
  • TSR below peersNo
    —
    3+ of last 5 years
  • High CEO pay despite TSRNo
    —
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    —
    Cash flow under 80% of net income
  • Dilutive SBCNo
    1% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    0% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    —
    Over 40% of assets
  • Shareholder dissentNo
    80% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    —
    Bottom quartile of its SIC industry
  • Quiet on AINo
    1.1 per 10K words · 35th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    —
    More cash than debt, positive EBITDA
  • Buyout-sizedNo
    $428M market cap
    Market cap $500M–$5B
  • Recurring revenueNo
    7 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    1 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Active 13DNo
    0 filings
    Active-intent 13D in 18 months
  • Net insider sellingNo
    $0 net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Mar 17, 2020SC TO-T/AComrit Investments 1, LP——
Mar 10, 2020SC TO-T/AComrit Investments 1, LP——
Feb 26, 2020SC TO-TComrit Investments 1, LP——
Oct 3, 2016SC TO-T/AMACKENZIE CAPITAL MANAGEMENT, LP——
Aug 15, 2016SC TO-TMACKENZIE CAPITAL MANAGEMENT, LP——

Key numbers

Revenue
$342MFY2021: $329MFY2022: $336MFY2023: $346MFY2024: $354MFY2025: $342M
3.3% YoY
Operating margin
1.0%FY2021: -11.4%FY2022: -9.4%FY2023: -1.4%FY2024: -34.9%FY2025: 1.0%
103% YoY
EBITDA
$82MFY2021: $42MFY2022: $51MFY2023: $78MFY2024: −$39MFY2025: $82M
307% YoY
Net debt / EBITDA
—

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$329M$336M$346M$354M$342M 3.3% FY2021: $329MFY2022: $336MFY2023: $346MFY2024: $354MFY2025: $342M
Operating income−$37M−$32M−$5M−$124M$3M 103% FY2021: −$37MFY2022: −$32MFY2023: −$5MFY2024: −$124MFY2025: $3M
Operating cash flow$39M$28M$22M−$80M$7M 109% FY2021: $39MFY2022: $28MFY2023: $22MFY2024: −$80MFY2025: $7M
Stock-based comp$1M$1M$919K$613K$4M 514% FY2021: $1MFY2022: $1MFY2023: $919KFY2024: $613KFY2025: $4M
Buybacks$0$0———FY2021: $0FY2022: $0
Dividends$0$0———FY2021: $0FY2022: $0

13D filers

None on file.

Insider trading

No open-market trades in the last 12 months.

Pay vs performance

No pay-versus-performance disclosure yet.