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National Healthcare Properties, Inc.

$25.24 +$6.73 (+36.36%)
NASDAQ · 03 Sep 2026 20:00 UTC
Previous Close
$25.24
Day Range
$25.23$25.25
Year Range
$17.18$25.25
Market Cap
714.65M
AVG Volume
18.59K
Trailing/Forward PE
-110.22/776.62
PEG ratio
1.01
Dividend Yield
7.03%
Next Earnings Date
2026-12-04
Primary Exchange
NASDAQUS
Revenue (USD)
025M50M75M100M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Revenue (USD) by quarter
PeriodRevenue (USD)
26 Q287.53M
26 Q186.28M
25 Q484.48M
25 Q386.03M
25 Q285.33M
25 Q186.44M
24 Q487.74M
24 Q388.94M
24 Q288.82M
24 Q188.3M
Net Income (USD)
-150M-100M-50M024 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Net Income (USD) by quarter
PeriodNet Income (USD)
26 Q2-5.36M
26 Q1-4.31M
25 Q4-22.7M
25 Q3-12.55M
25 Q2-20.8M
25 Q1-1.57M
24 Q4-16.99M
24 Q3-40.69M
24 Q2-116.47M
24 Q1-15.55M
Operating Income (USD)
-150M-100M-50M050M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Operating Income (USD) by quarter
PeriodOperating Income (USD)
26 Q28.95M
26 Q110.16M
25 Q4-6.58M
25 Q38.48M
25 Q27.54M
25 Q1-15K
24 Q4-1.05M
24 Q3-20.93M
24 Q2-100.44M
24 Q1-1.12M
EBITDA (USD)
-10M010M20M30M40M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP EBITDA (USD) by quarter
PeriodEBITDA (USD)
26 Q225.2M
26 Q128.2M
25 Q422.78M
25 Q320.62M
25 Q213.54M
25 Q136.73M
24 Q421.09M
24 Q3-2.04M
24 Q223.25M
24 Q121.64M
Cash Flows (USD)
-150M-100M-50M050M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Cash Flows (USD) by quarter
PeriodCash Flows (USD)
26 Q216.26M
26 Q13.75M
25 Q4-1.81M
25 Q35.58M
25 Q21.36M
25 Q1-26.9M
24 Q4946K
24 Q3-100.48M
24 Q2393K
24 Q1-2.62M
EPS (USD)
-2-1.5-1-0.5024 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP EPS (USD) by quarter
PeriodEPS (USD)
26 Q2-0.13
26 Q1-0.27
25 Q4-0.92
25 Q3-0.56
25 Q2-0.85
25 Q1-0.18
24 Q4-0.72
24 Q3-1.56
24 Q20
24 Q10
Expenses (USD)
010M20M30MSG&ACapex24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Expenses (USD) by quarter
PeriodExpenses (USD)
26 Q211.95M
26 Q110.73M
25 Q420.32M
25 Q310.26M
25 Q212.1M
25 Q110.56M
24 Q411.31M
24 Q310.74M
24 Q210.67M
24 Q111.93M
Cash & Debt (USD)
0500M1B1.5B2BCashLong Term DebtShort Term Debt24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Cash & Debt (USD) by quarter
PeriodCash & Debt (USD)
26 Q2302.38M
26 Q1106.6M
25 Q4108.45M
25 Q3102.54M
25 Q247.12M
25 Q171.38M
24 Q421.65M
24 Q332.86M
24 Q229.46M
24 Q128.67M
Debt ratios
010203024 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Debt ratios by quarter
PeriodDebt ratios
26 Q25.77
26 Q111.06
25 Q410.45
25 Q310.68
25 Q214.35
25 Q112.76
24 Q417.64
24 Q321.04
24 Q215.02
24 Q115.11
Margins
-20%0%20%40%24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Margins by quarter
PeriodMargins
26 Q2-2.53%
26 Q138.67%
25 Q437.24%
25 Q337.41%
25 Q236.9%
25 Q133.07%
24 Q437.78%
24 Q336.58%
24 Q238.07%
24 Q137.55%
Return on Capital
-20%-15%-10%-5%0%24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Return on Capital by quarter
PeriodReturn on Capital
26 Q2-0.51%
26 Q1-0.72%
25 Q4-3.75%
25 Q3-1.98%
25 Q2-3.19%
25 Q1-0.23%
24 Q4-2.46%
24 Q3-5.74%
24 Q2-15.27%
24 Q1-1.76%
Shares Outstanding
020M40M60M80M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Shares Outstanding by quarter
PeriodShares Outstanding
26 Q261.6M
26 Q128.34M
25 Q424.75M
25 Q322.37M
25 Q224.34M
25 Q126.37M
24 Q423.52M
24 Q326.08M
24 Q227.48M
24 Q123.15M
Dividends (USD)
00.511.5Apr 24Jul 24Oct 24Jan 25Apr 25Jul 25Oct 25Jan 26Apr 26Jul 26
NHPAP Dividends (USD) by quarter
PeriodDividends (USD)
Jul 260.46
Apr 260.46
Jan 260.46
Oct 250.46
Jul 250.46
Apr 250.46
Jan 250.46
Oct 240.46
Jul 240.46
Apr 240.46
Employee Count
025507510020142015201620172018201920242025
NHPAP Employee Count by quarter
PeriodEmployee Count
202531
202426
2019100
2018100
2017100
2016100
2015100
2014100
Book Value Per Share (USD)
01020304024 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Book Value Per Share (USD) by quarter
PeriodBook Value Per Share (USD)
26 Q217.16
26 Q121.05
25 Q424.43
25 Q328.28
25 Q226.81
25 Q125.79
24 Q429.34
24 Q327.16
24 Q227.75
24 Q138.19
Total Assets (USD)
01B2B3B24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
NHPAP Total Assets (USD) by quarter
PeriodTotal Assets (USD)
26 Q21.98B
26 Q11.7B
25 Q41.71B
25 Q31.74B
25 Q21.76B
25 Q11.83B
24 Q41.95B
24 Q32B
24 Q22.11B
24 Q12.13B
Free Cash Flow Yield
-40%-30%-20%-10%0%10%med -26.1%Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
NHPAP Free Cash Flow Yield by quarter
PeriodFree Cash Flow Yield
Sep 261.53%
Sep 261.53%
Aug 261.24%
Aug 261.24%
Aug 261.24%
Aug 261.24%
Jul 261.35%
Jul 261.36%
Jul 261.35%
Jul 261.36%
Jul 261.36%
Jun 261.35%
Jun 261.39%
Jun 261.39%
Jun 261.4%
May 261.4%
May 261.4%
May 261.45%
May 26-4.18%
May 26-4.24%
Apr 26-4.16%
Apr 26-4.12%
Apr 26-4.43%
Apr 26-4.59%
Mar 26-4.6%
Mar 26-4.63%
Mar 26-4.59%
Mar 26-4.55%
Feb 26-4.35%
Feb 26-4.35%
Feb 26-4.36%
Feb 26-4.38%
Jan 26-4.36%
Jan 26-4.42%
Jan 26-4.47%
Jan 26-4.56%
Jan 26-4.59%
Dec 25-4.46%
Dec 25-4.49%
Dec 25-4.41%
Dec 25-4.42%
Nov 25-27.69%
Nov 25-28.16%
Nov 25-27.84%
Nov 25-28.36%
Oct 25-28.43%
Oct 25-28.81%
Oct 25-28.81%
Oct 25-28.92%
Oct 25-28.18%
Sep 25-27.43%
Sep 25-27.38%
Sep 25-28.55%
Sep 25-28.36%
Aug 25-28.6%
Aug 25-25.79%
Aug 25-26.96%
Aug 25-27.55%
Aug 25-29.61%
Jul 25-29.16%
Jul 25-29.89%
Jul 25-31.1%
Jul 25-31.45%
Jun 25-31.63%
Jun 25-32.47%
Jun 25-33.03%
Jun 25-33.54%
May 25-34.14%
May 25-31.35%
May 25-31.37%
May 25-31.33%
May 25-31.55%
Apr 25-30.9%
Apr 25-31.69%
Apr 25-31.83%
Apr 25-33.1%
Mar 25-30.04%
Mar 25-30.57%
Mar 25-30.47%
Mar 25-30.62%
Feb 25-28.22%
Feb 25-28.2%
Feb 25-28.99%
Feb 25-29.11%
Jan 25-28.84%
Jan 25-26.51%
Jan 25-26.61%
Jan 25-27.53%
Jan 25-27.61%
Dec 24-27.16%
Dec 24-28.58%
Dec 24-26.35%
Dec 24-25.85%
Nov 24-25.39%
Nov 24-1.05%
Nov 24-1.02%
Nov 24-1.01%
Nov 24-1.03%
Oct 24-1.01%
Oct 24-0.99%
Price to Sales
012345med 1.26Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
NHPAP Price to Sales by quarter
PeriodPrice to Sales
Sep 264.52
Sep 264.52
Aug 262.09
Aug 262.09
Aug 262.09
Aug 262.08
Jul 261.92
Jul 261.91
Jul 261.92
Jul 261.9
Jul 261.91
Jun 261.91
Jun 261.87
Jun 261.86
Jun 261.86
May 261.85
May 261.86
May 261.79
May 261.52
May 261.5
Apr 261.53
Apr 261.55
Apr 261.44
Apr 261.39
Mar 261.38
Mar 261.37
Mar 261.39
Mar 261.4
Feb 261.27
Feb 261.27
Feb 261.26
Feb 261.26
Jan 261.26
Jan 261.24
Jan 261.23
Jan 261.21
Jan 261.2
Dec 251.23
Dec 251.23
Dec 251.25
Dec 251.25
Nov 251.3
Nov 251.27
Nov 251.29
Nov 251.27
Oct 251.26
Oct 251.25
Oct 251.25
Oct 251.24
Oct 251.27
Sep 251.31
Sep 251.31
Sep 251.26
Sep 251.27
Aug 251.26
Aug 251.39
Aug 251.33
Aug 251.3
Aug 251.21
Jul 251.23
Jul 251.2
Jul 251.15
Jul 251.14
Jun 251.13
Jun 251.1
Jun 251.08
Jun 251.07
May 251.05
May 250.92
May 250.92
May 250.92
May 250.91
Apr 250.93
Apr 250.91
Apr 250.9
Apr 250.87
Mar 250.96
Mar 250.94
Mar 250.94
Mar 250.94
Feb 251.06
Feb 251.06
Feb 251.03
Feb 251.03
Jan 251.04
Jan 251.13
Jan 251.13
Jan 251.09
Jan 251.09
Dec 241.1
Dec 241.05
Dec 241.14
Dec 241.16
Nov 241.18
Nov 241.23
Nov 241.27
Nov 241.29
Nov 241.26
Oct 241.28
Oct 241.31
EV/EBITDA
15202530med 19.45Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
NHPAP EV/EBITDA by quarter
PeriodEV/EBITDA
Sep 2621.83
Sep 2621.83
Aug 2619.46
Aug 2619.46
Aug 2619.44
Aug 2619.44
Jul 2618.79
Jul 2618.74
Jul 2618.79
Jul 2618.72
Jul 2618.75
Jun 2618.76
Jun 2618.58
Jun 2618.54
Jun 2618.52
May 2618.5
May 2618.52
May 2618.27
May 2616.01
May 2615.93
Apr 2616.04
Apr 2616.1
Apr 2615.7
Apr 2615.52
Mar 2615.5
Mar 2615.47
Mar 2615.51
Mar 2615.56
Feb 2615.44
Feb 2615.44
Feb 2615.42
Feb 2615.4
Jan 2615.42
Jan 2615.35
Jan 2615.3
Jan 2615.22
Jan 2615.18
Dec 2515.31
Dec 2515.29
Dec 2515.37
Dec 2515.36
Nov 2520.87
Nov 2520.76
Nov 2520.83
Nov 2520.71
Oct 2520.7
Oct 2520.62
Oct 2520.62
Oct 2520.59
Oct 2520.76
Sep 2520.93
Sep 2520.94
Sep 2520.67
Sep 2520.71
Aug 2520.66
Aug 2518.94
Aug 2518.68
Aug 2518.55
Aug 2518.15
Jul 2518.23
Jul 2518.1
Jul 2517.89
Jul 2517.83
Jun 2517.8
Jun 2517.67
Jun 2517.59
Jun 2517.52
May 2517.43
May 2522.72
May 2522.71
May 2522.72
May 2522.69
Apr 2522.79
Apr 2522.66
Apr 2522.64
Apr 2522.45
Mar 2522.94
Mar 2522.85
Mar 2522.87
Mar 2522.84
Feb 2527.82
Feb 2527.83
Feb 2527.64
Feb 2527.62
Jan 2527.68
Jan 2528.26
Jan 2528.23
Jan 2527.99
Jan 2527.97
Dec 2428.09
Dec 2427.74
Dec 2428.31
Dec 2428.45
Nov 2428.58
Nov 2420.56
Nov 2420.75
Nov 2420.81
Nov 2420.68
Oct 2420.77
Oct 2420.89
Price/Operating Cashflow
050100150med 17.96Dec 23Mar 24Jul 24Oct 24Feb 26May 26Sep 26
NHPAP Price/Operating Cashflow by quarter
PeriodPrice/Operating Cashflow
Sep 2630.64
Sep 2630.64
Aug 2619.23
Aug 2619.21
Aug 2619.18
Aug 2619.17
Jul 2617.69
Jul 2617.57
Jul 2617.7
Jul 2617.52
Jul 2617.6
Jun 2617.61
Jun 2617.22
Jun 2617.13
Jun 2617.07
May 2617.03
May 2617.07
May 2616.49
May 2674.87
May 2673.91
Apr 2675.29
Apr 2676.11
Apr 2670.77
Apr 2668.32
Mar 2668.03
Mar 2667.64
Mar 2668.21
Mar 2668.85
Feb 26126.91
Feb 26126.98
Feb 26126.59
Feb 26125.94
Jan 26126.59
Jan 26124.71
Jan 26123.41
Jan 26121.14
Jan 26120.16
Dec 25123.67
Dec 25123.02
Dec 25125.03
Dec 25124.9
Nov 2421.69
Nov 2422.41
Nov 2422.64
Nov 2422.16
Oct 2422.48
Oct 2422.96
Oct 2422.56
Oct 2422.67
Sep 2423.08
Sep 2421.85
Sep 2421.84
Sep 2421.27
Aug 2421.15
Aug 2418.11
Aug 2418.05
Aug 2417.95
Aug 2417.72
Jul 2417.42
Jul 2417.53
Jul 2417.75
Jul 2417.66
Jun 2417.55
Jun 2417.7
Jun 2418.1
Jun 2417.85
May 2418.02
May 2417.12
May 2416.61
May 2416.84
May 2416.82
Apr 2416.75
Apr 2416.96
Apr 2417.35
Apr 2418.14
Mar 2417.97
Mar 2418.32
Mar 2418.09
Mar 2417.82
Mar 2417.75
Feb 2415.42
Feb 2415.32
Feb 2415.72
Feb 2415.77
Jan 2416.19
Jan 2415.37
Jan 2415.23
Jan 2416.06
Dec 2316.13
Dec 2314.97
Dec 2315.22
Dec 2312.48
Dec 2312.92
Nov 2312.58
Nov 2312.05
Nov 2311.48
Nov 2312.35
Oct 2312.41
Oct 2312.85
Oct 2315.51
Price to Book
00.511.5med 0.67Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
NHPAP Price to Book by quarter
PeriodPrice to Book
Sep 261.47
Sep 261.47
Aug 261.2
Aug 261.2
Aug 261.2
Aug 261.2
Jul 261.1
Jul 261.1
Jul 261.1
Jul 261.09
Jul 261.1
Jun 261.1
Jun 261.07
Jun 261.07
Jun 261.06
May 261.06
May 261.06
May 261.03
May 260.86
May 260.85
Apr 260.87
Apr 260.88
Apr 260.81
Apr 260.79
Mar 260.78
Mar 260.78
Mar 260.78
Mar 260.79
Feb 260.69
Feb 260.69
Feb 260.69
Feb 260.69
Jan 260.69
Jan 260.68
Jan 260.67
Jan 260.66
Jan 260.65
Dec 250.67
Dec 250.67
Dec 250.68
Dec 250.68
Nov 250.69
Nov 250.68
Nov 250.69
Nov 250.68
Oct 250.67
Oct 250.67
Oct 250.67
Oct 250.66
Oct 250.68
Sep 250.7
Sep 250.7
Sep 250.67
Sep 250.68
Aug 250.67
Aug 250.72
Aug 250.69
Aug 250.67
Aug 250.63
Jul 250.64
Jul 250.62
Jul 250.6
Jul 250.59
Jun 250.59
Jun 250.57
Jun 250.56
Jun 250.55
May 250.54
May 250.47
May 250.47
May 250.47
May 250.47
Apr 250.48
Apr 250.47
Apr 250.46
Apr 250.45
Mar 250.49
Mar 250.48
Mar 250.48
Mar 250.48
Feb 250.53
Feb 250.53
Feb 250.52
Feb 250.51
Jan 250.52
Jan 250.56
Jan 250.56
Jan 250.54
Jan 250.54
Dec 240.55
Dec 240.52
Dec 240.57
Dec 240.58
Nov 240.59
Nov 240.57
Nov 240.58
Nov 240.59
Nov 240.58
Oct 240.59
Oct 240.6
National Healthcare Properties, Inc.
NHPAP
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News: NHPAP

National Healthcare Properties Completes Sale of 30 Multi-Tenant OMFs for $198 Million

globenewswire.com · 10 Sep 2026

National Healthcare Properties Completes Sale of 30 Multi-Tenant OMFs for $198 Million

NEW YORK, Sept. 10, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP) (the “Company”) announced today that it has completed the primarily multi-tenant first tranche of its previously announced sale of 86 outpatient medical facilities (“OMFs”) for approximately $528 million. The closing of the remaining 56 OMFs, which are subject to the buyer's assumption of approximately $220 million of secured debt (Secured Term Loan 4 due 2033) and customary closing conditions, is expected to occur in the fourth quarter of 2026.

National Healthcare Properties Reports Second Quarter 2026 Results

globenewswire.com · 5 Aug 2026

National Healthcare Properties Reports Second Quarter 2026 Results

SHOP Same Store Cash NOI increased 20.1% on a year-over-year basis   $400 million of 2026 SHOP acquisitions completed or under definitive agreement  Secured an additional $650 million of credit facility commitments at improved spreads and terms   Transformed net leverage profile with successful IPO   Appointed Albert M. Campbell to Board of Directors, including its audit committee

Despite Its Rally, The Preferred Stock Of National Healthcare Properties Remains Attractive

seekingalpha.com · 10 Jul 2026

Despite Its Rally, The Preferred Stock Of National Healthcare Properties Remains Attractive

National Healthcare Properties (NHPAP) preferred stock has delivered a 31% total return in seven months, outperforming the S&P 500. NHPAP's dividend yield remains attractive at 8.0%, supported by rapid deleveraging and strong business momentum, especially in senior housing. The recent IPO raised $531 million, materially improving NHPAP's balance sheet and reducing risk for preferred shareholders.

National Healthcare Properties Announces Third Quarter 2026 Common Stock Dividend

globenewswire.com · 1 Jul 2026

National Healthcare Properties Announces Third Quarter 2026 Common Stock Dividend

NEW YORK, July 01, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP / NHPAP / NHPBP) (the “Company”) announced today that its Board of Directors declared a quarterly dividend of $0.075 per share of its common stock (including its Class A Common Stock). The dividend will be payable in cash on July 30, 2026 to holders of record at the close of business on July 15, 2026.

National Healthcare Properties Announces Preferred Stock Dividends

globenewswire.com · 22 Jun 2026

National Healthcare Properties Announces Preferred Stock Dividends

NEW YORK, June 22, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP / NHPAP / NHPBP) (“NHP” or the “Company”) announced today that it declared quarterly dividends on its outstanding preferred stock. Specifically, NHP declared a dividend of $0.4609375 per share on its 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock payable on July 15, 2026, to holders of record at the close of business on July 2, 2026. In addition, NHP declared a dividend of $0.4453125 per share on its 7.125% Series B Cumulative Redeemable Perpetual Preferred Stock payable on July 15, 2026, to holders of record at the close of business on July 2, 2026.

National Healthcare Properties Announces Final Results of its Series A and Series B Preferred Stock Self Tender Offers

globenewswire.com · 22 Jun 2026

National Healthcare Properties Announces Final Results of its Series A and Series B Preferred Stock Self Tender Offers

NEW YORK, June 22, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP / NHPAP / NHPBP) (the “Company”), a self-managed real estate investment trust focused on acquiring, owning and investing in a diversified portfolio of healthcare real estate, with an emphasis on providing senior housing to serve a growing elderly population in the United States, today announced the final results of its concurrent but separate offers to purchase up to a maximum aggregate purchase price in cash of $100 million of (i) its 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (the “Series A Shares”), and (ii) its 7.125% Series B Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (the “Series B Shares,” and together with the Series A Shares, the “Shares”), in each case for a purchase price of $22.50 per share in cash (collectively, the “Offers”), each less any applicable withholding taxes and without interest. The Offers each expired at 5:00 p.m., New York City time, on June 16, 2026 (the “Expiration Date”).

National Healthcare Properties Announces Preliminary Results of its Series A and Series B Preferred Stock Self Tender Offers

globenewswire.com · 17 Jun 2026

National Healthcare Properties Announces Preliminary Results of its Series A and Series B Preferred Stock Self Tender Offers

NEW YORK, June 17, 2026 (GLOBE NEWSWIRE) -- National Healthcare Properties, Inc. (Nasdaq: NHP / NHPAP / NHPBP) (the “Company”), a self-managed real estate investment trust focused on acquiring, owning and investing in a diversified portfolio of healthcare real estate, with an emphasis on providing senior housing to serve a growing elderly population in the United States, today announced the preliminary results of its concurrent but separate offers to purchase up to a maximum aggregate purchase price in cash of $100 million of (i) its 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (the “Series A Shares”), and (ii) its 7.125% Series B Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (the “Series B Shares,” and together with the Series A Shares, the “Shares”), in each case for a purchase price of $22.50 per share in cash (collectively, the “Offers”), each less any applicable withholding taxes and without interest. The Offers each expired at 5:00 p.m., New York City time, on June 16, 2026 (the “Expiration Date”).

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