On HCP’s Q3 earnings call, the REIT revealed it was changing its name to Healthpeak Properties effective immediately. President and CEO, Tom Herzog, said that the company also redesigned its corporate website.
Why Healthpeak? According to Herzog, it is the word health, of course, which he says communicates the sector in which the company invests and operate. “PEAK and also our position as one of the country’s premier REITs plus list the concepts of focus, stability and high-quality.”
Today marks the beginning of a new chapter, he added on the call. “Change in our name represents the combination of efforts to reposition our strategy, team, portfolio and balance sheet. Healthpeak, we believe in the power of clarity and a simple strategy, unwavering focus and delivered actions enable consistent delivery on our vision.”
Over the past few years, he says the REIT has been more disciplined in its investment approach with a focus on the three primary private pay healthcare segments of life science, medical office and senior housing. “As an innovative company at the forefront of providing high-quality real estate of the evolving healthcare industry, we are committed to delivering value to our shareholders, customers and employees. Our shareholders, we now have a much improved and more focused portfolio that we expect to produce high-quality cash flows, consistent earnings and generate strong dividend growth over time.”