AFFO definition

AFFO means FFO plus acquisition and integration costs. Acquisition and integration costs are one time in nature to the specific assets purchased in the current period or pending and are expensed under IFRS. AFFO is a non-IFRS measure – see Accounting Policies Non-IFRS Measures;

AFFO means adjusted funds from operations, calculated by adjusting FFO by adding back acquisition expenses, equity based compensation expenses, and any other non-recurring on non-cash expenses, and subtracting recurring capital expenditures (and, when calculating the Incentive Fee only, further adjusting FFO to include any realized gains or losses on the Company’s real estate investments).

AFFO means the Company’s adjusted funds from operations as disclosed in the Company’s Periodic Report filed with respect to the applicable period.

Examples of AFFO in a sentence

• Healthpeak provides public guidance with respect to diluted earnings per share, diluted Nareit FFO per share, diluted FFO as adjusted per share, diluted AFFO per share, and total portfolio same-store cash adjusted net operating income growth, which guidance is presented as a range and which guidance may be updated from time to time.

• Further, certain financial metrics presented in this section, including total cash net operating income, EBITDA, unlevered free cash flow, diluted FFO as adjusted, and diluted AFFO, are “non-GAAP financial measures” as set forth in Item 10(e) of Regulation S-K and should not be considered as alternatives to net income (determined in accordance with GAAP) or any other GAAP financial measures or as an indication of Healthpeak’s or the Combined Company’s performance.

• This analysis indicated the following approximate implied per share equity value reference ranges for Healthpeak, as compared to the closing per share price of Healthpeak common stock on October 27, 2023: Implied Per Share Equity Value Reference Ranges for Healthpeak Closing Per Share Price as of 2024E Adjusted EBITDA 2024E FFO 2024E AFFO October 27, 2023 $16.24 – $20.20 $15.02 – $18.46 $16.21 – $17.80 $16.42 No company used in this analysis is identical or directly comparable to Healthpeak.

• BofA Securities also reviewed, among other things, per share equity values, based on closing stock prices on October 27, 2023, of the selected publicly traded companies as a multiple of calendar year 2024 estimated FFO per share and AFFO per share.

• Based on the Exchange Ratio, this analysis indicated that the Company Merger could be accretive to Physicians Realty Trust’s and Healthpeak’s estimated FFO and AFFO for calendar year 2024.

More Definitions of AFFO

AFFO means Core FFO with certain adjustments in order to arrive at a more refined measure of the operating performance of the portfolio. There is no industry standard definition of AFFO and practice is divergent across the industry. AFFO adjusts Core FFO to remove items such as equity-based compensation expense and the amortization of deferred financing costs incurred in connection with obtaining long-term debt financing, and to account for the ongoing maintenance requirements of our properties by reducing Core FFO for a capital expenditure reserve. We believe AFFO is useful to investors as a supplemental gauge of our operating performance and is useful in comparing our operating performance with other real estate investment trusts that are not as involved in the aforementioned activities. NOI

AFFO means adjusted funds from operations.

AFFO means adjusted funds from operations as described under “Non-Standard Measures” in the REIT’s MD&A for the year ended December 31, 2014, which is incorporated by reference.

AFFO means cash provided by operating activities, subject to certain adjustments, which include: (i) adjustments for certain non-cash working capital items that are not considered indicative of sustainable economic cash flow available for distribution; (ii) adjustments for interest expense on the credit facilities and mortgages payable that is included in finance costs; (iii) adjustments for cash paid for interest; (iv) add backs for compensation expense related to the Corporation's deferred share incentive plan; (v) add backs for payments received under the Corporation's income support agreements and development lease arrangements; (vi) add backs for the write-off of deferred financing costs from refinancing; and (vii) other adjustments as determined by the Directors of the Corporation in their sole discretion.

AFFO means net income attributable to holders of Common Stock calculated in accordance with GAAP plus real estate depreciation expense minus recurring capital expenditures on all Real Estate Assets owned by Residential or any Subsidiary, and making such other adjustments as are approved in good faith by the Board of Directors, including a majority of the Independent Directors, after discussions with the Manager.

AFFO means adjusted funds from operations, as reported in the Company’s supplemental disclosure for any fiscal quarter.

AFFO means adjusted funds from operations as more particularly described under “Non-IFRS Financial Measures”.