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Hsbc Holdings PLC decreased its holdings in Healthpeak Properties, Inc. (NYSE:DOC – Free Report) by 12.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,952,394 shares of the real estate investment trust’s stock after selling 431,633 shares during the period. Hsbc Holdings PLC owned approximately 0.43% of Healthpeak Properties worth $63,263,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of DOC. Clearstead Trust LLC boosted its stake in Healthpeak Properties by 66.7% during the second quarter. Clearstead Trust LLC now owns 1,357 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 543 shares during the last quarter. Advocate Investing Services LLC acquired a new stake in shares of Healthpeak Properties in the 4th quarter worth $26,000. CYBER HORNET ETFs LLC purchased a new position in shares of Healthpeak Properties during the 2nd quarter worth $33,000. Clearstead Advisors LLC raised its holdings in shares of Healthpeak Properties by 166.3% during the 4th quarter. Clearstead Advisors LLC now owns 1,947 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,216 shares during the period. Finally, Elyxium Wealth LLC purchased a new position in shares of Healthpeak Properties during the 4th quarter worth $31,000. 93.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth A number of equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Healthpeak Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Royal Bank Of Canada lifted their target price on shares of Healthpeak Properties from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Cantor Fitzgerald lifted their target price on shares of Healthpeak Properties from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. BMO Capital Markets boosted their target price on shares of Healthpeak Properties from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Finally, Barclays increased their price target on shares of Healthpeak Properties from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, August 31st. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.72.

View Our Latest Report on Healthpeak Properties Healthpeak Properties Price Performance NYSE:DOC opened at $20.65 on Tuesday. Healthpeak Properties, Inc. has a 52 week low of $15.70 and a 52 week high of $22.95. The stock’s fifty day moving average is $21.53 and its two-hundred day moving average is $19.37. The company has a market capitalization of $14.24 billion, a P/E ratio of 59.00, a P/E/G ratio of 2.55 and a beta of 1.01. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.06.

Healthpeak Properties (NYSE:DOC – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $771.58 million during the quarter, compared to analysts’ expectations of $725.64 million. Healthpeak Properties had a return on equity of 2.79% and a net margin of 8.24%.The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. Healthpeak Properties has set its FY 2026 guidance at 1.730-1.770 EPS. Equities analysts expect that Healthpeak Properties, Inc. will post 1.77 EPS for the current year.

Healthpeak Properties Dividend Announcement The business also recently announced a monthly dividend, which will be paid on Friday, September 25th. Shareholders of record on Monday, September 14th will be paid a dividend of $0.1017 per share. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Monday, September 14th. Healthpeak Properties’s dividend payout ratio (DPR) is 348.57%.

(Free Report)

Healthpeak Properties, Inc is a real estate investment trust (REIT) specializing in healthcare-related real estate. Headquartered in Irvine, California, the company owns, develops and acquires a diversified portfolio of properties that cater to the evolving needs of the healthcare industry. Its investments span life science research facilities, medical office buildings and senior housing communities, positioning Healthpeak as a key provider of specialized real estate assets.

Within its life science segment, Healthpeak develops and leases laboratory and research space to biotechnology, pharmaceutical and other life science companies.

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SAN FRANCISCO, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Healthpeak Properties, Inc. (NYSE: DOC) is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery. The company owns a national portfolio composed of 700 properties totaling nearly 50 million square feet.

Advisor Access spoke with Scott Brinker, President and CEO of Healthpeak Properties.

Advisor Access: For readers who may be unfamiliar with Healthpeak, would you provide us with an overview of the company and explain what sets it apart from other REITs?

AA: What led you to the decision to IPO Healthpeak’s senior housing business in March 2026, and how does Healthpeak benefit from this recent IPO?

AA: How has Healthpeak approached the transaction market in 2026?

AA: How is Healthpeak positioned for long-term growth?

AA: Do you have any final takeaways for our readers?

Click Here to Read the Complete Answers to these Questions and the Entire Article Online, including Disclosures

Click Here for the Healthpeak Properties Investor Presentation

Click Here to visit the Healthpeak Corporate Website

Investors looking for stocks in the REIT and Equity Trust - Other sector might want to consider either Healthpeak (DOC - Free Report) or EastGroup Properties (EGP - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

Right now, Healthpeak is sporting a Zacks Rank of #2 (Buy), while EastGroup Properties has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that DOC has an improving earnings outlook. However, value investors will care about much more than just this.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

DOC currently has a forward P/E ratio of 11.97, while EGP has a forward P/E of 20.83. We also note that DOC has a PEG ratio of 2.32. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. EGP currently has a PEG ratio of 2.91.

Another notable valuation metric for DOC is its P/B ratio of 1.54. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, EGP has a P/B of 3.01.

Based on these metrics and many more, DOC holds a Value grade of B, while EGP has a Value grade of D.

DOC stands above EGP thanks to its solid earnings outlook, and based on these valuation figures, we also feel that DOC is the superior value option right now.

Advisors Capital Management LLC raised its holdings in shares of Healthpeak Properties, Inc. (NYSE:DOC – Free Report) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,576,297 shares of the real estate investment trust’s stock after purchasing an additional 75,700 shares during the quarter. Advisors Capital Management LLC owned 0.23% of Healthpeak Properties worth $33,733,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its position in Healthpeak Properties by 7.3% during the first quarter. Integrated Wealth Concepts LLC now owns 18,084 shares of the real estate investment trust’s stock valued at $366,000 after buying an additional 1,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Healthpeak Properties by 110.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,881 shares of the real estate investment trust’s stock worth $2,463,000 after buying an additional 63,930 shares in the last quarter. Woodline Partners LP lifted its stake in Healthpeak Properties by 41.3% in the 1st quarter. Woodline Partners LP now owns 59,103 shares of the real estate investment trust’s stock worth $1,195,000 after purchasing an additional 17,279 shares in the last quarter. Brown Advisory Inc. boosted its stake in Healthpeak Properties by 3.1% during the second quarter. Brown Advisory Inc. now owns 46,770 shares of the real estate investment trust’s stock valued at $819,000 after buying an additional 1,415 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Healthpeak Properties during the second quarter worth about $3,117,000. 93.57% of the stock is owned by hedge funds and other institutional investors.

Healthpeak Properties Trading Up 2.3% DOC opened at $21.24 on Friday. The stock has a 50-day moving average of $21.37 and a 200 day moving average of $19.00. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 1.06. Healthpeak Properties, Inc. has a 12 month low of $15.70 and a 12 month high of $22.95. The firm has a market cap of $14.65 billion, a P/E ratio of 60.69, a P/E/G ratio of 3.20 and a beta of 1.01.

Healthpeak Properties (NYSE:DOC – Get Free Report) last released its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. Healthpeak Properties had a return on equity of 2.79% and a net margin of 8.24%.The firm had revenue of $771.58 million for the quarter, compared to the consensus estimate of $725.64 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Healthpeak Properties has set its FY 2026 guidance at 1.730-1.770 EPS. As a group, research analysts forecast that Healthpeak Properties, Inc. will post 1.77 EPS for the current year. Healthpeak Properties Announces Dividend The company also recently declared a monthly dividend, which will be paid on Friday, September 25th. Investors of record on Monday, September 14th will be paid a dividend of $0.1017 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. Healthpeak Properties’s payout ratio is currently 348.57%.

Wall Street Analysts Forecast Growth A number of research firms have recently weighed in on DOC. Barclays began coverage on Healthpeak Properties in a research note on Tuesday, July 7th. They issued an “equal weight” rating and a $23.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of Healthpeak Properties from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Evercore lowered shares of Healthpeak Properties from an “outperform” rating to an “in-line” rating and set a $21.00 price target for the company. in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Healthpeak Properties in a research report on Wednesday, August 5th. Finally, Mizuho upped their target price on shares of Healthpeak Properties from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, Healthpeak Properties currently has a consensus rating of “Hold” and an average target price of $21.66.

Get Our Latest Report on Healthpeak Properties

Healthpeak Properties Company Profile (Free Report)

Healthpeak Properties, Inc is a real estate investment trust (REIT) specializing in healthcare-related real estate. Headquartered in Irvine, California, the company owns, develops and acquires a diversified portfolio of properties that cater to the evolving needs of the healthcare industry. Its investments span life science research facilities, medical office buildings and senior housing communities, positioning Healthpeak as a key provider of specialized real estate assets.

Within its life science segment, Healthpeak develops and leases laboratory and research space to biotechnology, pharmaceutical and other life science companies.

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Investors in Healthpeak Properties, Inc. (DOC - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the Oct 16, 2026 $2.50 Put had some of the highest implied volatility of all equity options today.

What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?Clearly, options traders are pricing in a big move for Healthpeak Properties shares, but what is the fundamental picture for the company? Currently, Healthpeak Properties is a Zacks Rank #3 (Hold) in the REIT and Equity Trust – Other industry that ranks in the Top 33% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 44 cents per share to 43 cents in that period.

Given the way analysts feel about Healthpeak Properties right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.

Healthpeak Properties remains a Buy, supported by strong earnings, attractive dividend, and an ongoing portfolio pivot despite macro headwinds. DOC delivered a robust Q2, beating FFO and revenue estimates, increasing guidance, and executing $1 billion in asset sales to strengthen liquidity. Valuation remains compelling, with intrinsic value estimated above current levels even under conservative estimates, supported by conservative AFFO growth and a high discount rate.

Key Takeaways DOC's Q2 FFO beat estimates as leasing gains and stronger senior housing operations boosted results.DOC raised 2026 FFO guidance to $1.73-$1.77 per share, up from $1.71-$1.75 previously guided.DOC generated $1.4 billion from recapitalizations, loan repayments and dispositions in Q2 and after. Healthpeak Properties, Inc. (DOC - Free Report) reported second-quarter 2026 funds from operations (FFO), as adjusted, of 46 cents per share, which topped the Zacks Consensus Estimate of 44 cents by 4.6%. The figure was unchanged year over year. Total revenues of $771.6 million rose 11.1% year over year and beat the consensus mark of $726.2 million by 6.3%.

The results reflected solid leasing across outpatient medical and lab properties, along with stronger senior housing operations. Combined new and renewal lease executions totaled 1.6 million square feet, while total same-store adjusted net operating income (NOI) increased 1.8%.

DOC’s Leasing Activity Supports Portfolio DemandOutpatient medical leasing remained the largest contributor. New lease executions totaled 327,000 square feet, while renewal leases reached 916,000 square feet. Total outpatient medical occupancy improved 20 basis points (bps) sequentially to 90.7%.

Lab leasing also advanced, with 222,000 square feet of new leases and 159,000 square feet of renewal leases. Total lab occupancy increased 80 bps sequentially to 78.5%.

Healthpeak also entered into additional leases after the second quarter-end and reported a substantial pipeline under signed letters of intent.

DOC’s Same-Store Mix Shows Uneven TrendsOutpatient medical same-store adjusted NOI grew 2.5% year over year to $189.1 million. Same-store cash real estate revenues increased 3.2%, while same-store cash operating expenses rose 4.4%. Same-store occupancy was 91.9%, down 50 bps year over year.

Lab same-store adjusted NOI declined 3.2% to $114.2 million as revenues fell 2.1%. Same-store occupancy was 90.3%, down 410 bps.

Senior housing was the standout, with same-store adjusted NOI rising 19.2% to $32.1 million. Occupancy in that portfolio increased 260 basis points to 88.6%.

DOC’s Segment Results Reflect Senior Housing GrowthOutpatient medical adjusted NOI slipped 1.8% to $198 million, while lab adjusted NOI was nearly flat at $142.6 million.

Senior housing adjusted NOI increased 25.4% to $45.9 million. Janus Living, Healthpeak’s senior housing spin-off, generated second-quarter revenues of $216 million, up 45%, while adjusted EBITDAre rose 34% to $79 million. Healthpeak owned a 73.6% equity interest in Janus Living as of June 30, 2026.

DOC’s Costs Rise With Expanded OperationsProperty operating expenses increased 20.6% year over year to $333.1 million. Depreciation and amortization rose to $283.4 million from $265.9 million, while general and administrative expenses increased to $22.5 million from $20.8 million.

Interest expense climbed 22.9% to $92.3 million.

DOC Advances Capital RecyclingThe largest transaction was the sale of a 49% interest in an 86-property outpatient medical portfolio to Brookfield in July 2026. The portfolio was valued at $2.1 billion, and the deal generated approximately $1.025 billion in proceeds. Healthpeak retained a 51% interest and will continue to provide asset and property management services.

After quarter-end, Healthpeak used the Brookfield transaction proceeds to repay $650 million of senior notes and around $375 million of commercial paper borrowings.

Healthpeak generated $1.4 billion of proceeds from outpatient medical recapitalizations, seller financing loan repayments and dispositions during the second quarter and through Aug. 3, bringing year-to-date proceeds to $1.75 billion.

DOC Strengthens LiquidityAvailable liquidity totaled $4.13 billion as of June 30. Cash and cash equivalents were $1.63 billion, up from $467.5 million at the end of 2025. Net Debt to Adjusted EBITDAre improved to 4.7X from 5.4X in the preceding quarter.

DOC Raises Its 2026 FFO OutlookManagement increased its 2026 FFO, as adjusted, guidance to $1.73-$1.77 per share from $1.71-$1.75. The Zacks Consensus Estimate is pinned at $1.75.

Total same-store cash adjusted NOI growth is now expected between 0% and 1.5% compared with the prior range of a 1% decline to 1% growth.

Healthpeak currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other REITsCousins Properties Inc. (CUZ - Free Report) reported second-quarter 2026 FFO of 75 cents per share, beating the Zacks Consensus Estimate of 74 cents. The metric rose 7.1% from the year-ago quarter.

Rental property revenues increased 11.8% year over year to $265.7 million and surpassed the consensus mark of $263.6 million. The results reflected strong leasing momentum, higher rental revenues and solid same-property NOI growth.

BXP, Inc. (BXP - Free Report) reported second-quarter 2026 FFO of $1.78 per share, beating the Zacks Consensus Estimate of $1.71. FFO rose 4.1% from the year-ago period.

Lease revenues increased 3.2% year over year to $831.68 million and surpassed the consensus mark of $812.49 million. Results reflected higher occupancy and same-property NOI growth, which supported the FFO beat.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

Posted by Defense World Staff on Aug 5th, 2026

First Trust Advisors LP grew its position in shares of Healthpeak Properties, Inc. (NYSE:DOC – Free Report) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 264,415 shares of the real estate investment trust’s stock after buying an additional 26,304 shares during the quarter. First Trust Advisors LP’s holdings in Healthpeak Properties were worth $4,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. WPG Advisers LLC boosted its position in Healthpeak Properties by 270.2% in the fourth quarter. WPG Advisers LLC now owns 1,640 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 1,197 shares during the last quarter. Advocate Investing Services LLC purchased a new stake in shares of Healthpeak Properties during the 4th quarter valued at about $26,000. Elyxium Wealth LLC purchased a new stake in shares of Healthpeak Properties during the 4th quarter valued at about $31,000. Clearstead Advisors LLC increased its position in shares of Healthpeak Properties by 166.3% during the 4th quarter. Clearstead Advisors LLC now owns 1,947 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,216 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Healthpeak Properties in the 2nd quarter worth approximately $33,000. Institutional investors own 93.57% of the company’s stock.

Healthpeak Properties Price Performance Shares of NYSE:DOC opened at $21.59 on Wednesday. The company has a market capitalization of $14.89 billion, a P/E ratio of 67.48, a P/E/G ratio of 3.36 and a beta of 1.01. Healthpeak Properties, Inc. has a 1-year low of $15.70 and a 1-year high of $22.95. The firm’s 50 day simple moving average is $21.08 and its two-hundred day simple moving average is $18.73. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.96 and a quick ratio of 2.96.

Healthpeak Properties (NYSE:DOC – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The firm had revenue of $752.95 million for the quarter, compared to the consensus estimate of $694.59 million. Healthpeak Properties had a net margin of 7.73% and a return on equity of 2.61%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.46 EPS. Research analysts expect that Healthpeak Properties, Inc. will post 1.75 EPS for the current fiscal year.

Healthpeak Properties Announces Dividend The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 25th. Stockholders of record on Monday, September 14th will be given a $0.1017 dividend. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Monday, September 14th. Healthpeak Properties’s payout ratio is presently 381.25%.

Insider Activity at Healthpeak Properties In other news, insider Scott R. Bohn sold 10,989 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $19.45, for a total value of $213,736.05. Following the completion of the transaction, the insider owned 7,636 shares of the company’s stock, valued at $148,520.20. This represents a 59.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth Several analysts recently issued reports on the stock. Evercore lowered shares of Healthpeak Properties from an “outperform” rating to an “in-line” rating and set a $21.00 target price for the company. in a research report on Monday, May 11th. UBS Group lifted their price target on shares of Healthpeak Properties from $19.00 to $21.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Wells Fargo & Company boosted their price objective on shares of Healthpeak Properties from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price objective on Healthpeak Properties from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $22.00 target price (up from $20.00) on shares of Healthpeak Properties in a report on Thursday, June 11th. Four research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.62.

Check Out Our Latest Analysis on Healthpeak Properties

Healthpeak Properties Company Profile (Free Report)

Healthpeak Properties, Inc is a real estate investment trust (REIT) specializing in healthcare-related real estate. Headquartered in Irvine, California, the company owns, develops and acquires a diversified portfolio of properties that cater to the evolving needs of the healthcare industry. Its investments span life science research facilities, medical office buildings and senior housing communities, positioning Healthpeak as a key provider of specialized real estate assets.

Within its life science segment, Healthpeak develops and leases laboratory and research space to biotechnology, pharmaceutical and other life science companies.

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Healthpeak Properties Inc (DOC) released its 8-K filing on August 4, 2026, showcasing its financial results for the quarter ended June 30, 2026. The company, a

DENVER--(BUSINESS WIRE)--Healthpeak Properties, Inc. (NYSE: DOC) ("Healthpeak"), a leading owner, operator, and developer of real estate for healthcare discovery and delivery, today announced results for the quarter ended June 30, 2026.

SECOND QUARTER 2026 FINANCIAL PERFORMANCE AND RECENT HIGHLIGHTS

Net income of $0.08 per share and FFO as Adjusted of $0.46 per share Second quarter Outpatient Medical and Lab new and renewal lease executions totaled 1.6 million square feet: Outpatient Medical new lease executions totaled 327,000 square feet and renewal lease executions totaled 916,000 square feet Subsequent to the second quarter, we have entered into approximately 204,000 square feet of Outpatient Medical leases and have another approximately 882,000 under signed letters of intent ("LOIs") Lab new lease executions totaled 222,000 square feet and renewal lease executions totaled 159,000 square feet Subsequent to the second quarter, we have entered into approximately 20,000 square feet of Lab leases and have another approximately 480,000 square feet under signed LOIs Total occupancy increased sequentially by +20 basis points ("bps") in Outpatient Medical to 90.7% and by +80 bps in Lab to 78.5% Janus Living (NYSE: JAN) reported year-over-year revenue and Adjusted EBITDAre growth of 45% and 34%, respectively Entered into a new $20 million outpatient medical development agreement to support Northside Hospital’s continued expansion in the Atlanta market Generated $1.4 billion of proceeds from Outpatient Medical recapitalizations, seller financing loan repayments, and dispositions during the second quarter and through August 3, bringing year-to-date proceeds to $1.75 billion As previously disclosed, in July 2026, closed on the recapitalization and sale of a 49% joint venture interest in an 86-asset, 5.6 million square foot outpatient medical portfolio to affiliates of Brookfield at a gross valuation of $2.1 billion, generating proceeds of approximately $1.025 billion Net Debt to Adjusted EBITDAre was 4.7x for the quarter ended June 30, 2026 Authorized new $500 million share repurchase program Published 15th annual Corporate Impact Report highlighting Healthpeak's continued focus on building a resilient portfolio, advancing sustainability goals, fostering a workplace culture guided by our WE CARE core values, and promoting sound corporate governance and transparency To learn more and view the Corporate Impact Report, please visit www.healthpeak.com/corporate-impact

SECOND QUARTER RESULTS

Three Months Ended June 30,

2026

2025

Diluted Net income (loss) per common share

$

0.08

$

0.05

Diluted FFO as Adjusted per common share

0.46

0.46

Year-Over-Year Same-Store ("SS") Adjusted NOI Growth

Three Month

SS Growth %

% of SS

Outpatient Medical

2.5

%

56.4

%

Lab

(3.2

%)

34.0

%

Senior Housing

19.2

%

9.6

%

Total

1.8

%

100.0

%

JANUS LIVING SECOND QUARTER FINANCIAL AND OPERATING HIGHLIGHTS

Revenue of $216 million, up 45% compared to the prior year quarter Adjusted EBITDAre of $79 million, up 34% compared to the prior year quarter Total Adjusted Net Operating Income of $58 million, up 37% compared to the prior year quarter Same-store Adjusted NOI increased 19.2% and margin expanded 250 basis points During the second quarter, acquired two senior housing communities for approximately $105 million Subsequent to quarter end, and through August 3, 2026, completed approximately $1.0 billion of senior housing acquisitions As of August 3, 2026, and subsequent to closing the acquisitions referenced above, Janus Living had approximately $558 million of unrestricted cash and no outstanding debt Under purchase agreement for approximately $59 million incremental senior housing acquisition Janus Living, Inc. is a pure-play senior housing real estate investment trust that owns high-quality communities across the United States, and is majority owned by Healthpeak. Healthpeak owns 214.7 million shares of Janus Living common stock and operating partnership common units, representing a 73.6% equity ownership as of June 30, 2026. Janus Living is consolidated into Healthpeak’s financial statements, with the approximately 26.4% not owned by Healthpeak reported as noncontrolling interest.

NORTHSIDE OUTPATIENT MEDICAL DEVELOPMENT

In June 2026, Healthpeak entered into a development agreement for a new $20 million, 33,000 square foot outpatient medical building in the Sugar Hill submarket of Atlanta, Georgia.

The development is 84% pre-leased to Northside Hospital and affiliated physician groups supporting a range of clinical services and extends Northside’s network in a high-growth submarket connecting its Forsyth and Gwinnett hospital campuses.

The development represents Healthpeak’s fifth ground-up project totaling 565,000 square feet supporting Northside Hospital’s continued outpatient expansion in the Atlanta market.

OUTPATIENT MEDICAL JOINT VENTURE RECAPITALIZATION

As previously disclosed, in July 2026, Healthpeak entered into a joint venture with affiliates of Brookfield Asset Management (“Brookfield”) through the contribution of an 86-property outpatient medical portfolio valued at approximately $2.1 billion. The portfolio comprises approximately 5.6 million square feet and is located across 11 states including Kentucky, Indiana, Pennsylvania, Arkansas, Illinois, Minnesota, New Jersey, and New York. The portfolio is 95% leased with a weighted average remaining lease term of six years.

Under the terms of the joint venture, Brookfield owns a 49% non-controlling equity interest and Healthpeak retains a 51% interest in the joint venture and serves as managing member, providing asset and property management services and earning customary fees.

Healthpeak received proceeds of approximately $1.025 billion for the sale of the 49% interest. The transaction implies a trailing cash capitalization rate of approximately 5.9% and a valuation of approximately $380 per square foot. Healthpeak retains a call right for a finite period beginning after year seven to repurchase Brookfield’s interest at a price sufficient to provide Brookfield with a 6.5% net annual rate of return excluding initial transaction expenses.

The joint venture advances Healthpeak’s capital allocation strategy by generating proceeds to strengthen its balance sheet, fund investment opportunities, and support long-term growth. The transaction establishes a structure by which the parties can expand their relationship over time and also underscores the differentiated platform Healthpeak has built, including deep health system relationships and ongoing investments across the enterprise in technology, systems, and innovation that enhance long-term portfolio performance.

SELLER FINANCING LOAN REPAYMENT AND OTHER DISPOSITIONS

In June 2026, Healthpeak received approximately $400 million of gross proceeds from the partial repayment of a seller financing loan. The remaining $20 million loan balance was extended by 12 months pursuant to contractual extension rights. The repayment resulted in a one-time $9 million increase in interest income from the accelerated recognition of the remaining fair value discount.

During the second quarter of 2026, Healthpeak closed on $40 million of non-core outpatient medical dispositions at a trailing cash capitalization rate of 4.9%.

BALANCE SHEET

In June 2026, Healthpeak repaid $142 million of mortgage debt.

Subsequent to the end of the second quarter, Healthpeak used proceeds from the Brookfield joint venture to repay $650 million of 3.25% senior notes at maturity and approximately $375 million of borrowings under its commercial paper program.

As of August 3, 2026, Healthpeak had $3.4 billion of liquidity including cash and available credit facility capacity.

SHARE REPURCHASE ACTIVITY AND NEW SHARE REPURCHASE AUTHORIZATION

As previously disclosed, in April 2026, Healthpeak repurchased 5.9 million common shares at a weighted average share price of $16.81 for approximately $100 million under its $500 million share repurchase program.

In July 2026, Healthpeak's Board of Directors authorized a new $500 million share repurchase program, replacing the existing $500 million authorization. The shares may be repurchased through various methods, including in the open market at Healthpeak's discretion and subject to market conditions, regulatory requirements, and other customary conditions.

DIVIDEND

On July 9, 2026, Healthpeak's Board of Directors declared a monthly common stock cash dividend of $0.10167 per share for each of July, August, and September of 2026, representing cash dividends totaling $0.305 per share for the third quarter, and an annualized dividend amount of $1.22 per share. The dividend is payable on the payment dates set forth in the table below to stockholders of record as of the close of business on the corresponding record date. Future dividends are at the discretion of Healthpeak's Board of Directors.

Record Date

Payment Date

Amount

July 20, 2026

July 31, 2026

$0.10167 per common share

August 17, 2026

August 28, 2026

$0.10167 per common share

September 14, 2026

September 25, 2026

$0.10167 per common share

GUIDANCE

Healthpeak's 2026 guidance ranges are updated as follows:

Full Year 2026

As of 5/5/26

As of 8/4/26

Mid-Point Change

Diluted earnings per common share

$0.46

-

$0.50

$0.48

-

$0.52

$0.02 increase

Diluted FFO as Adjusted per share

$1.71

-

$1.75

$1.73

-

$1.77

$0.02 increase

Total Same-Store Cash (Adjusted) NOI

(1)%

-

1%

0%

-

1.5%

75 bps increase

These estimates are based on our current view of existing market conditions, transaction timing, and other assumptions for the year ending December 31, 2026. For additional guidance ranges, details, and assumptions, please see page 10 in our corresponding Supplemental Report and the Discussion and Reconciliation of Non-GAAP Financial Measures, both of which are available in the Investor Relations section of our website at http://ir.healthpeak.com.

CONFERENCE CALL INFORMATION

Healthpeak has scheduled a conference call and webcast for Wednesday, August 5, 2026, at 10:00 a.m. Eastern Time.

Healthpeak’s website: https://ir.healthpeak.com/news-events Webcast: https://events.q4inc.com/attendee/933204731. Joining via webcast is recommended for those who will not be asking questions. Telephone: The participant dial-in number is (833) 461-5787. The international dial-in is (585) 542-9983. The conference ID number is 933 204 731. A webcast replay will be available on Healthpeak’s website for 30 days.

ABOUT HEALTHPEAK

Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery.

NON-GAAP FINANCIAL MEASURES

Nareit FFO, FFO as Adjusted, Total Same-Store Cash (Adjusted) NOI, Adjusted EBITDAre, and Net Debt to Adjusted EBITDAre are supplemental non-GAAP financial measures that we believe are useful in evaluating the operating performance and financial position of real estate investment trusts. See "June 30, 2026 Discussion and Reconciliation of Non-GAAP Financial Measures" for definitions, discussions of their uses and inherent limitations, and reconciliations to the most directly comparable financial measures calculated and presented in accordance with GAAP, available in the Investor Relations section of our website at http://ir.healthpeak.com/quarterly-results. See also the "Funds From Operations" section of this release for additional information. Additionally, as used herein with respect to Janus Living, Adjusted EBITDAre, Total Adjusted Net Operating Income, and Same-Store Adjusted NOI are supplemental non-GAAP financial measures that we believe are useful in evaluating the operating performance and financial position of Janus Living. See "June 30, 2026 Discussion and Reconciliation of Non-GAAP Financial Measures" for definitions, discussions of their uses and inherent limitations, and reconciliations to the most directly comparable financial measures calculated and presented in accordance with GAAP, available in the Investor Relations section of the Janus Living website at https://ir.janusreit.com/financials/quarterly-results.

FORWARD-LOOKING STATEMENTS

Statements contained in this release that are not historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among other things, statements regarding our and our officers' intent, belief or expectation as identified by the use of words such as "may," "will," "project," "expect," "believe," "intend," "anticipate," "seek," "target," "forecast," "plan," "potential," "estimate," "could," "would," "should" and other comparable and derivative terms or the negatives thereof. Examples of forward-looking statements include, among other things: (i) statements regarding timing, outcomes and other details relating to pending or contemplated acquisitions, dispositions, developments, redevelopments, joint venture transactions, leasing activity and commitments, financing activities, or other transactions discussed in this release; (ii) the payment of a monthly cash dividend; and (iii) the information presented under the heading "Guidance." Pending acquisitions, dispositions, joint venture transactions, leasing activity, and financing activity, including those subject to binding agreements, remain subject to closing conditions and may not be completed within the anticipated timeframes or at all. Forward-looking statements reflect our current expectations and views about future events and are subject to risks and uncertainties that could significantly affect our future financial condition and results of operations. While forward-looking statements reflect our good faith belief and assumptions we believe to be reasonable based upon current information, we can give no assurance that our expectations or forecasts will be attained. Further, we cannot guarantee the accuracy of any such forward-looking statement contained in this release, and such forward-looking statements are subject to known and unknown risks and uncertainties that are difficult to predict. As more fully set forth under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission ("SEC"), these risks and uncertainties include, but are not limited to: changes to regulatory, funding, staffing, trade, and other policies and actions by the U.S. political administration; macroeconomic trends that may increase borrowing, construction, labor and other operating costs; changes within the life science industry, and significant regulation, funding requirements, and uncertainty faced by our lab tenants; factors adversely affecting our tenants’, operators’, or borrowers’ ability to meet their financial and other contractual obligations to us; the insolvency or bankruptcy of one or more of our major tenants, operators, or borrowers; our concentration of real estate investments in the healthcare property sector, which makes us more vulnerable to a downturn in that specific sector than if we invested across multiple sectors; the illiquidity of real estate investments; our ability to identify and secure new or replacement tenants and operators; our property development, redevelopment, and tenant improvement risks, which can render a project less profitable or unprofitable and delay or prevent its undertaking or completion; the ability of the hospitals on whose campuses our outpatient medical buildings are located and their affiliated healthcare systems to remain competitive or financially viable; operational risks associated with our senior housing properties managed by third parties, including our properties operated through structures permitted by the Housing and Economic Recovery Act of 2008, which includes most of the provisions previously proposed in the REIT Investment Diversification and Empowerment Act of 2007 (commonly referred to as “RIDEA”); the failure of our tenants, operators, and borrowers to comply with federal, state, and local laws and regulations, including resident health and safety requirements, as well as licensure, certification, and inspection requirements; required regulatory approvals to transfer our senior housing properties; compliance with the Americans with Disabilities Act and fire, safety, and other regulations; the requirements of, or changes to, governmental reimbursement programs such as Medicare or Medicaid; economic conditions, natural disasters, weather, and other conditions that negatively affect geographic areas where we have concentrated investments; uninsured or underinsured losses, which could result in a significant loss of capital invested in a property, lower than expected future revenues, and unanticipated expenses; our use of joint ventures may limit our returns on and our flexibility with jointly owned investments; our use of rent escalators or contingent rent provisions in our leases; competition for suitable healthcare properties to grow our investment portfolio; our ability to exercise rights on collateral securing our real estate-related loans; any requirement that we recognize reserves, allowances, credit losses, or impairment charges; investment of substantial resources and time in transactions that are not consummated; our ability to successfully integrate and/or operate acquisitions or internalize property management; the potential impact of unfavorable resolution of litigation or disputes and resulting rising liability and insurance costs; environmental compliance costs and liabilities associated with our real estate investments; environmental, social and governance and sustainability commitments and changing requirements, as well as stakeholder expectations; epidemics, pandemics, or other infectious diseases, and health and safety measures intended to reduce their spread; our past participation in the Coronavirus Aid, Relief, and Economic Security Act Provider Relief Fund and other Covid-related stimulus and relief programs; laws or regulations prohibiting eviction of our tenants; human capital risks, including the loss or limited availability of our key personnel; our reliance on information technology and any material failure, inadequacy, interruption, or security failure of that technology; the use of, or inability to use, artificial intelligence by us, our tenants, our vendors, and our investors; volatility, disruption, or uncertainty in the financial markets; increased interest rates and borrowing costs, which could impact our ability to refinance existing debt, sell properties, and conduct investment activities; cash available for distribution to stockholders and our ability to make dividend distributions at expected levels; the availability of external capital on acceptable terms or at all; an increase in our level of indebtedness; covenants in our debt instruments, which may limit our operational flexibility, and breaches of these covenants; volatility in the market price and trading volume of our common stock; adverse changes in our credit ratings; the initial public offering of Janus Living, and may not achieve the intended benefits; our economic exposure to shifts in the price of Janus Living common stock and our ability to control the assets and activities of Janus Living; potential conflicts of interest in our relationship with Janus Living; our ability to maintain our qualification as a real estate investment trust (“REIT”); our taxable REIT subsidiaries being subject to corporate level tax; tax imposed on any net income from “prohibited transactions”; changes to U.S. federal income tax laws, and potential deferred and contingent tax liabilities from corporate acquisitions; calculating non-REIT tax earnings and profits distributions; tax protection agreements that may limit our ability to dispose of certain properties and may require us to maintain certain debt levels; ownership limits in our charter that restrict ownership in our stock, and provisions of Maryland law and our charter that could prevent a transaction that may otherwise be in the interest of our stockholders; conflicts of interest between the interests of our stockholders and the interests of holders of Healthpeak OP, LLC (“Healthpeak OP”) common units; provisions in the operating agreement of Healthpeak OP and other agreements that may delay or prevent unsolicited acquisitions and other transactions; our status as a holding company of Healthpeak OP; and other risks and uncertainties described from time to time in our SEC filings.

Moreover, other risks and uncertainties of which we are not currently aware may also affect our forward-looking statements, and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by us on our website or otherwise. We do not undertake any obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made.

Healthpeak Properties, Inc.

Consolidated Balance Sheets

In thousands, except share and per share data

June 30,
2026

December 31,
2025

Assets

Real estate:

Buildings and improvements

$

17,211,536

$

16,593,535

Development costs and construction in progress

969,495

1,010,657

Land and improvements

3,225,957

3,007,346

Accumulated depreciation

(4,543,382

)

(4,512,443

)

Net real estate

16,863,606

16,099,095

Loans receivable, net of reserves of $8,165 and $11,345

261,398

606,020

Investments in unconsolidated joint ventures

526,780

802,601

Accounts receivable, net of allowance of $3,523 and $2,018

72,134

78,327

Cash and cash equivalents

1,626,827

467,457

Restricted cash

91,858

70,245

Intangible assets

717,494

654,516

Assets held for sale

37,101

80,621

Right-of-use asset

395,124

412,198

Deferred tax assets

122,320

111,248

Goodwill

68,529

68,529

Other assets

896,875

885,161

Total assets

$

21,680,046

$

20,336,018

Liabilities and Equity

Bank line of credit and commercial paper

$

1,495,994

$

1,078,850

Term loans

1,646,282

1,647,113

Senior unsecured notes

6,785,697

6,772,722

Mortgage debt

104,213

349,209

Intangible liabilities

155,466

173,697

Liabilities related to assets held for sale

594

11,900

Lease liability

288,194

296,260

Accounts payable, accrued liabilities, and other liabilities

678,687

718,509

Deferred revenue

1,026,479

985,307

Total liabilities

12,181,606

12,033,567

Commitments and contingencies

Redeemable noncontrolling interests

27,695

159,581

Common stock, $1.00 par value: 1,500,000,000 shares authorized; 689,465,312 and 695,036,731 shares issued and outstanding

689,465

695,037

Additional paid-in capital

13,273,880

12,767,914

Cumulative dividends in excess of earnings

(6,129,129

)

(5,952,920

)

Accumulated other comprehensive income (loss)

10,534

(9,937

)

Total stockholders’ equity

7,844,750

7,500,094

Public investors of Janus Living, Inc.

979,186

—

Joint venture partners

291,294

295,455

Non-managing member unitholders

355,515

347,321

Total noncontrolling interests

1,625,995

642,776

Total equity

9,470,745

8,142,870

Total liabilities and equity

$

21,680,046

$

20,336,018

Healthpeak Properties, Inc.

Consolidated Statements of Operations

In thousands, except per share data

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Revenues:

Rental and related revenues

$

533,354

$

529,687

$

1,071,790

$

1,067,828

Resident fees and services

216,456

148,855

416,801

297,782

Interest income and other

21,769

15,806

35,940

31,627

Total revenues

771,579

694,348

1,524,531

1,397,237

Costs and expenses:

Operating

333,123

276,181

656,984

549,324

Depreciation and amortization

283,390

265,916

573,124

534,462

Interest expense

92,280

75,063

179,572

147,756

General and administrative

22,517

20,764

47,108

46,882

Transaction costs

9,172

10,215

33,321

15,749

Impairments and loan loss reserves (recoveries), net

(1,479

)

3,499

(3,754

)

(63

)

Total costs and expenses

739,003

651,638

1,486,355

1,294,110

Other income (expense):

Gain (loss) on sales of real estate, net

9,988

1,636

60,657

1,636

Gain (loss) on debt extinguishments

—

—

(403

)

—

Other income (expense), net

16,766

(4,692

)

156,545

(10,818

)

Total other income (expense), net

26,754

(3,056

)

216,799

(9,182

)

Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures

59,330

39,654

254,975

93,945

Income tax benefit (expense)

1,402

(2,382

)

1,148

(4,462

)

Equity income (loss) from unconsolidated joint ventures

2,509

1,747

6,774

(400

)

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

Participating securities’ share in earnings

(150

)

(115

)

(299

)

(579

)

Net income (loss) applicable to common shares

$

52,668

$

31,558

$

246,152

$

73,922

Earnings per common share:

Basic

$

0.08

$

0.05

$

0.36

$

0.11

Diluted

$

0.08

$

0.05

$

0.36

$

0.11

Weighted average shares outstanding:

Basic

689,885

695,188

692,508

697,117

Diluted

689,885

695,194

692,843

697,146

Healthpeak Properties, Inc.

Funds From Operations

In thousands, except per share data

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Net income (loss) applicable to common shares

$

52,668

$

31,558

$

246,152

$

73,922

Real estate related depreciation and amortization

283,390

265,916

573,124

534,462

Healthpeak’s share of real estate related depreciation and amortization from unconsolidated joint ventures

7,644

12,530

14,856

24,730

Noncontrolling interests’ share of real estate related depreciation and amortization

(15,421

)

(4,426

)

(20,123

)

(8,879

)

Loss (gain) on sales of depreciable real estate, net

(9,988

)

(1,636

)

(60,657

)

(1,636

)

Healthpeak’s share of loss (gain) on sales of depreciable real estate, net, from unconsolidated joint ventures

1,793

—

1,793

—

Noncontrolling interests’ share of gain (loss) on sales of depreciable real estate, net

973

—

973

—

Loss (gain) upon change of control, net(1)

(226

)

—

(138,343

)

—

Taxes associated with real estate dispositions

(1,863

)

(335

)

(1,805

)

(335

)

Nareit FFO applicable to common shares

318,970

303,607

615,970

622,264

Distributions on dilutive convertible units and other

4,384

4,560

8,930

9,183

Diluted Nareit FFO applicable to common shares

$

323,354

$

308,167

$

624,900

$

631,447

Diluted Nareit FFO per common share

$

0.46

$

0.43

$

0.88

$

0.89

Weighted average shares outstanding - Diluted Nareit FFO

704,472

709,839

707,066

711,828

Impact of adjustments to Nareit FFO:

Transaction, merger, and restructuring-related costs(2)

$

7,734

$

10,215

$

28,302

$

15,749

Other impairments (recoveries) and other losses (gains), net(3)

(1,479

)

3,499

(3,754

)

179

Loss (gain) on debt extinguishments

—

—

302

—

Casualty-related charges (recoveries), net(4)

(4,191

)

3,919

(4,381

)

8,145

Recognition (reversal) of valuation allowance on deferred tax assets(5)

—

—

(3,058

)

—

Total adjustments

2,064

17,633

17,411

24,073

FFO as Adjusted applicable to common shares

321,034

321,240

633,381

646,337

Distributions on dilutive convertible units and other

4,382

4,545

8,916

9,161

Diluted FFO as Adjusted applicable to common shares

$

325,416

$

325,785

$

642,297

$

655,498

Diluted FFO as Adjusted per common share

$

0.46

$

0.46

$

0.91

$

0.92

Weighted average shares outstanding - Diluted FFO as Adjusted

704,472

709,839

707,066

711,828

Other operating data:

Amortization of deferred financing costs and debt discounts (premiums)

$

8,900

$

7,875

$

17,264

$

15,727

Non-refundable entrance fee sales in excess of (less than) the related GAAP amortization

12,866

19,042

20,621

23,739

Stock-based compensation amortization expense

4,351

1,738

8,853

6,365

Deferred income taxes

48

2,597

3,101

5,168

AFFO capital expenditures

(42,105

)

(25,729

)

(66,061

)

(48,864

)

Straight-line rents

(12,183

)

(5,401

)

(23,088

)

(16,554

)

Amortization of above (below) market lease intangibles, net

(6,308

)

(10,085

)

(12,905

)

(20,296

)

Other items(6)

(3,055

)

(1,069

)

(5,662

)

381

_______________________________________

Refer to footnotes on the next page.

(1)

  The six months ended June 30, 2026 includes a gain upon change of control related to (i) the acquisition of the remaining 46.5% interest in the SWF SH JV which held 19 senior housing properties and (ii) the disposition of an 80% interest in six outpatient medical buildings to a third-party. These gains upon change of control are included in other income (expense), net in the Consolidated Statements of Operations.

(2)

  The three and six months ended June 30, 2026 includes costs incurred related to the Janus Living IPO and investment pursuit costs. The three and six months ended June 30, 2025 includes costs related to the merger with Physicians Realty Trust, which are primarily comprised of severance, legal, accounting, tax, information technology, and other costs of combining operations with Physicians Realty Trust that were incurred during the period. The three and six months ended June 30, 2025 also included $6 million of costs incurred related to investments we are no longer pursuing.

(3)

  The three and six months ended June 30, 2026 and 2025 includes reserves and (recoveries) for expected loan losses recognized in impairments and loan loss reserves (recoveries), net in the Consolidated Statements of Operations.

(4)

  Casualty-related charges (recoveries), net are recognized in other income (expense), net, equity income (loss) from unconsolidated joint ventures, and noncontrolling interests’ share in earnings in the Consolidated Statements of Operations.

(5)

  The six months ended June 30, 2026 includes the income tax impact related to the change in tax status of certain entities in connection with the Janus Living IPO.

(6)

  Primarily includes: (i) amortization of deferred revenue, (ii) noncontrolling interests’ share of senior housing entrance fees in excess of (less than) the related GAAP amortization, and (iii) our proportionate share of AFFO capital expenditures and straight-line rents from unconsolidated joint ventures.

More News From Healthpeak Properties, Inc.

Key Takeaways DOC formed a joint venture with Brookfield involving 86 outpatient medical properties worth $2.1 billion.BAM acquired a 49% stake, while DOC retained 51% control and continues managing the portfolio.The venture provides long-term capital, with 95% of the 5.6 million-square-foot properties leased. Healthpeak Properties, Inc. (DOC - Free Report) and Brookfield Asset Management Ltd. (BAM - Free Report) have formed a long-term strategic capital partnership through a joint venture involving a portfolio of outpatient medical buildings across the United States. DOC contributed 86 properties totaling about 5.6 million square feet, with the portfolio valued at roughly $2.1 billion.

The properties are spread across 11 states, including Kentucky, Indiana, Pennsylvania, Arkansas, Illinois, Minnesota, New Jersey and New York. The portfolio is 95% leased and has a weighted average remaining lease term of six years, giving the joint venture a stable base of rental income.

Brookfield and its affiliates acquired a 49% non-controlling stake in the venture, while Healthpeak retained a 51% controlling interest. Healthpeak will remain the managing member and continue to handle asset management, leasing and property management. The company received about $1.025 billion in gross proceeds from the sale of 49% stake, which reflects a trailing cash capitalization rate of about 5.9% and a valuation of roughly $380 per square foot.

Healthpeak will also have the right, for a limited period starting after year seven, to buy back Brookfield’s interest at a price designed to provide BAM with a 6.5% net annual rate of return, excluding initial transaction costs.

The deal gives Healthpeak access to long-term capital while allowing it to keep control of the properties and benefit from future value growth. The joint venture is expected to remain consolidated in Healthpeak’s financial statements, with Brookfield’s stake recorded as a non-controlling equity interest.

ConclusionHealthpeak is raising substantial cash without giving up control of a well-leased portfolio. The structure could fund debt reduction, share repurchases or investments in faster-growing areas while giving Brookfield access to durable healthcare real estate.

In the past three months, shares of this Zacks Rank #3 (Hold) company have gained 36.5% compared with the industry's 6.2% growth.

Image Source: Zacks Investment Research

Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Postal Realty Trust (PSTL - Free Report) and Welltower (WELL - Free Report) , each sporting a Zacks Rank of 1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for PSTL’s 2026 FFO per share is pegged at $1.41, which indicates year-over-year growth of 6.82%.

The Zacks Consensus Estimate for WELL’s full-year FFO per share is pinned at $16.32, which suggests an increase of 19.47% from the year-ago period.

Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.

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America’s demographic clock keeps ticking, and the money is following the wrinkles. Personal consumption on healthcare hit $3,716.0 billion in May 2026, up from $3,512.1 billion a year earlier, a jump of $203.9 billion that outpaces overall services growth. Healthcare now absorbs roughly 24.5% of every services dollar. That is the demand curve behind senior housing and healthcare real estate, and it is why the three REITs below deserve a hard look this month.

All three trade on the NYSE, all three pay attractive dividends, and each is executing a specific playbook against the aging-Boomer tailwind. If you are building a dividend-heavy retirement sleeve, our monthly dividend research report pairs well with the picks below.

LTC Properties (NYSE: LTC) LTC Properties (NYSE:LTC) is the small-cap transformation story in the group. Market cap sits at roughly $1.99B, shares changed hands at $41.24 on July 16, and the stock has climbed more than 19% year to date. The quarterly dividend of 57 cents per share pencils to a dividend yield near 5.83%, with the next ex-dividend date set for July 23, 2026.

Q1 2026 delivered adjusted EPS of 48 cents against a 40-cent consensus, a 20% beat, and revenue jumped 58.38% year over year to $95.41 million. Management reaffirmed full-year Core FFO/share guidance of $2.75–$2.79.

Bull case: The pivot to a Seniors Housing Operating Portfolio (SHOP) model is capturing the demographic upside directly. SHOP now represents 29% of gross investments and management is guiding to 45% by year-end 2026, with the core SHOP portfolio running at 89.4% occupancy and REVPOR of $7,998. CEO Clint Malin put it plainly: “We have strong conviction that our SHOP strategy is the right one to create a higher growth profile company with better risk-adjusted returns to drive shareholder value.”

Risk: Skilled nursing still accounts for 33% of gross investments, and the $179.9 million Prestige Healthcare mortgage carries prepayment risk beginning July 2026. Tenant concentration and execution risk on the SHOP conversion are the near-term watch items.

Healthpeak Properties (NYSE: DOC) Healthpeak Properties (NYSE:DOC | DOC Price Prediction) is the mid-cap diversifier with a monthly paycheck. Market cap is $14.99 billion, shares traded around $22.18 on July 16, and the stock has surged 36.88% year to date. The monthly dividend of 10 cents per share supports a yield near 5.64%.

Q1 2026 GAAP EPS of 28 cents crushed the five-cent consensus, revenue of $752.95 million topped estimates by 8.63% and management raised full-year diluted EPS guidance to 46 cents to 50 cents from 34 cents to 38 cents. FFO as Adjusted guidance moved to $1.71–$1.75.

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Bull case: The Janus Living IPO printed $880 million in net proceeds at a $6.90 billion market cap, with Healthpeak retaining 81.6%, unlocking senior housing value while Janus lines up another $400 million in senior housing acquisitions. Senior housing same-store cash NOI grew 13.8% year over year in Q1, and the buyback program repurchased 5.9M shares at roughly $16.81 average, with about $306 million still authorized.

Risk: The lab segment is dragging. Same-store cash NOI fell 7.2% year over year in Q1 2026, and while management believes life science is near an inflection, occupancy is the swing variable through year-end.

Welltower (NYSE: WELL) Welltower (NYSE:WELL) is the elephant. At $165.57 billion market cap, it is the largest healthcare REIT in the country, and the price action reflects the scale advantage. Shares traded around $239.46 on July 16, up 28.09% year to date and 51.99% over the past 12 months.

Q1 2026 normalized FFO landed at $1.47 per share on revenue of $3.35 billion, up 40.3% year over year. Guidance was raised across the board: net income per share to $3.24–$3.38 and normalized FFO/share to $6.21–$6.35, with blended same-store NOI growth guided to 12.25%–16.00%. The quarterly dividend of $0.74 was Welltower’s 220th consecutive quarterly dividend, following a 10.4% increase the prior period.

Bull case: The Seniors Housing Operating segment produced 22.1% same-store NOI growth, occupancy climbed 370 bps year over year to 89.0%, and margin expanded to 30.9% from 27.7%. With $10.5B in year-to-date investment activity closed or under contract, 92.3% private-pay revenue mix, and net debt/EBITDA at a lean 3.03x, Welltower is compounding scale advantages faster than smaller peers can match. Analysts back the setup, with a $241 average price target and 12 Buy ratings and five Strong Buy ratings.

Risk: Valuation. Forward P/E of 79x and EV/EBITDA of 68x leave no margin for execution slippage. Interest expense climbed from $144.9M to $192.7M year over year, and integration risk on the Barchester and HC-One UK acquisitions adds an FX overlay.

What to Watch Into Q3 Housing starts weakened to 1.18M units in May 2026, a 15.4% month-over-month drop that will eventually tighten senior housing supply, a bullish setup for existing landlords. Keep an eye on the LTC ex-dividend date on July 23, the DOC ex-dividend date on July 20, and Q2 earnings reports later this summer for confirmation that the SHOP tailwind is still accelerating. The demographic thesis is durable; the entry points still matter.

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Key Takeaways Healthpeak Properties is expanding labs, outpatient and life plan assets in high-barrier markets.DOC posted stronger lab and outpatient leasing, with higher occupancy and solid re-leasing spreads.Healthpeak Properties boosted liquidity with Janus IPO proceeds and added a $400M term loan. Shares of Healthpeak Properties (DOC - Free Report) have gained 28% in the past three months, outperforming the industry's upside of 12.4%.

This healthcare real estate company, carrying a Zacks Rank #3 (Hold), is strategically positioning itself toward lab, outpatient medical and life plan assets in high-barrier markets, driven by strong leasing momentum, rising occupancy and growth in its senior housing platform, Janus Living. Management is using dispositions and structured transactions to fund focused growth while enhancing liquidity and maintaining investment flexibility across cycles.

Image Source: Zacks Investment Research

Factors Behind DOC Stock Price Surge: Will the Trend Last?Healthpeak’s continued focus on the lab segment aligns well with long-term demand, since ongoing investment in drug discovery and development supports the need for high-quality lab real estate across its core clusters of San Diego, San Francisco, and Boston. During the first quarter of 2026, Healthpeak executed 141,000 square feet of lab leases, with 92% tied to new leasing, and had roughly 355,000 square feet under Letter of Intent. At the end of the first quarter of 2026, total lab occupancy was 77.7%, up from 77% at year-end 2025. Management expects year-end 2026 lab occupancy to be higher than the 2025 level.

The outpatient medical segment maintains solid fundamentals that generate consistent, recurring cash flow. In the first quarter of 2026, Healthpeak executed nearly 1.1 million square feet of outpatient leases, achieved 5.4% cash re-leasing spreads on renewals and ended the quarter at 91% total occupancy, with 79% tenant retention. Subsequent to quarter-end and through early May 2026, the company executed additional outpatient leasing activity and reported a larger pipeline under letter of intent (LOI), which should help sustain occupancy and rent growth over time.

Healthpeak’s exposure to life plan communities remains tied to demand for senior housing services, and the Janus Living structure adds a clearer vehicle for growth. In the first quarter of 2026, senior housing same-store cash (adjusted) net operating income (NOI) grew 13.8% year over year, reflecting stronger operating performance in the life plan portfolio. Janus Living reported year-over-year revenue growth of 35% and adjusted EBITDA expansion of 42% for the quarter.

Healthpeak is repositioning its portfolio toward labs, outpatient medical facilities, and life-plan properties in high–barrier-to-entry markets, funding this growth through asset sales and structured financing transactions. In the first quarter of 2026, the company generated $267 million of proceeds from recapitalizations, dispositions and loan repayments. These actions support a longer-term approach to driving per-share earnings growth while keeping investment activity flexible across cycles.

Healthpeak moved to strengthen near-term liquidity. At the end of the first quarter of 2026, its net debt-to-EBITDA was 5.4X. Cash and cash equivalents climbed to $1.17 billion from $467.5 million in the prior quarter, driven largely by proceeds from the Janus Living IPO. As of May 4, 2026, the company’s long-term credit ratings were Baa1 (Moody’s) and BBB+ (S&P Global). It also increased financial flexibility with a new $400 million unsecured delayed-draw term loan.

Key Risks for DOCCompetition from other industry players in the healthcare services sector is a key concern for Healthpeak. Risks associated with rising construction costs and substantial debt burden add to its woes.

Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Cousins Properties (CUZ - Free Report) and Prologis (PLD - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for CUZ’s 2026 FFO per share is pegged at $2.94, which indicates year-over-year growth of 3.52%.

The Zacks Consensus Estimate for PLD’s full-year FFO per share is pinned at $6.18, which calls for an increase of 6.37% from the year-ago period’s level.

Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.

Healthpeak Properties remains a Strong Buy, combining value, income, and recovery potential in healthcare real estate. DOC's outpatient medical and life sciences segments show improving occupancy, strong lease spreads, and embedded rent escalators supporting steady growth. The Janus Living spin-off unlocks value in senior housing, with DOC retaining 82% ownership and benefiting from high segment growth.

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After a 35-year career in the financial industry, including two decades as an institutional stockbroker at Bear Stearns, Lehman Brothers, and Morgan Stanley, I developed an institutional perspective on dividend-focused investing. My tenure at these premier Wall Street firms exposed me to fundamental analysis, credit evaluation, and risk management practices, which directly translate into selecting quality dividend-paying companies. Having witnessed firsthand the 2008 financial crisis and its aftermath—including the collapse of Bear Stearns and Lehman Brothers, from which I was fortunately spared as I had left both firms by 2004—I developed a keen appreciation for balance sheet strength, sustainable payout ratios, and the importance of dividends as a stabilizing force during market turbulence.

By analyzing cash flow generation, capital allocation strategies, and management quality, I can identify companies with durable competitive advantages and the financial discipline to maintain and grow their dividends through economic cycles. Early in my career, I realized that dividend investing is not merely an income strategy but also a comprehensive framework for building wealth through companies that consistently return capital to shareholders, maintain financial stability, and offer high total-return potential. I used those metrics to screen for high-yield dividend stocks trading under $20. The ability to buy a bigger position allows investors to generate more passive income.

Why do we cover high-yield dividend stocks under $20?

While not suited for everybody, those trying to build strong passive income streams can do exceptionally well with some of these top companies in their portfolios. Paired with more conservative blue-chip dividend giants, investors can use a barbell approach to generate substantial passive income. In addition, as mentioned, stocks trading below $20 allow investors to purchase more shares.

AES This conservative utility stock offers a hefty 4.87% dividend. AES (NYSE: AES | AES Price Prediction) operates as a diversified power generation and utility company in the United States and internationally. The company has agreed to be acquired by a consortium led by Global Infrastructure Partners (a BlackRock company) and EQT AB, in an all-cash deal that will take it private. Shareholders will receive $15.00 per share in a transaction with an enterprise value of approximately $33.4 billion. The advantage for investors is that they will receive a premium over their purchase price, plus collect dividends until the deal is completed late this year or early in 2027.

The company owns and operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and operates utilities to develop or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.

It uses various fuels and technologies to generate electricity, such as:

Coal Gas Hydro Wind Solar Biomass Renewables comprising energy storage and landfill gas AES owns and operates a generation portfolio of approximately 34,596 megawatts and distributes power to 2.6 million customers.

Most Wall Street firms have cut their ratings and have a $15 target price, as that is the purchase price for the shares.

CTO Realty Growth With a rich 7.69% dividend yield and solid upside potential, this lesser-known real estate investment trust (REIT) makes sense for passive-income investors. CTO Realty Growth (NYSE: CTO) owns and operates a portfolio of high-quality, retail-based properties located primarily in higher-growth markets in the United States. With a 96% leased occupancy rate and a strategy targeting high-yield acquisitions, CTO offers strong income potential. In addition, CTO’s smaller market cap and focus on retail REITs in specific growth markets make it less visible compared to larger, more diversified REITs.

The company’s segments include:

Income properties Management services Commercial loans and investments Real estate operations CTO holds a stake in Alpine Income Property Trust (NYSE: PINE), further diversifying its holdings. With a 96% leased occupancy rate and a strategy targeting high-yield acquisitions, CTO offers strong income potential. It has paid dividends for 49 consecutive years, reflecting reliability.

The commercial loans and investments segment includes a portfolio of five commercial loan investments and two preferred equity investments. Its income property operations consist of income-producing properties.

CTO’s business includes its investment in Alpine. The portfolio of properties includes:

Carolina Pavilion Millenia Crossing Lake Brandon Village Crabby’s Oceanside Fidelity LandShark Bar & Grill Granada Plaza The Strand at St. Johns Town Center The Shops at Legacy Price Plaza Cantor Fitzgerald has a Strong Buy rating on the shares, with a $22 target price.

Energy Transfer Energy Transfer (NYSE: ET) is one of North America’s largest and most diversified midstream energy companies, with a strategic footprint across all major domestic production basins. This top master limited partnership (MLP) is a safe option for investors seeking energy exposure and income, as the company pays a 7.03% distribution yield.

The company is a publicly traded limited partnership with core operations that include:

Complementary natural gas midstream, intrastate, and interstate transportation and storage assets Crude oil, natural gas liquids (NGL), and refined product transportation and terminalling assets NGL fractionation Various acquisition and marketing assets Following the acquisition of Enable Partners in December 2021, Energy Transfer owns and operates over 114,000 miles of pipelines and related assets in 41 states, spanning all major U.S. producing regions and markets. This further solidifies its leadership position in the midstream sector.

Through its ownership of Energy Transfer Operating, formerly known as Energy Transfer Partners, the company also owns Lake Charles LNG; the general partner interests, the incentive distribution rights, and 28.5 million standard units of Sunoco (NYSE: SUN); and the public partner interests and 39.7 million standard units of USA Compression Partners (NYSE: USAC).

TD Cowen has a Buy rating with a $21 target price on the shares.

Healthpeak Properties This leading company invests in real estate in the healthcare industry, including senior housing, life sciences, and medical offices. Healthpeak Properties (NYSE: DOC) shares have lagged peers over the past year due to lower-than-expected rent increases. The fully integrated REIT currently trades at a significant discount to its fair value and pays a 7.02% dividend.

The company acquires, develops, owns, leases, and manages healthcare real estate across the United States. It owns, operates, and develops real estate focused on healthcare discovery and delivery, and its segments include:

Lab Outpatient medical Continuing care retirement community (CCRC) The Outpatient medical segment owns, operates, and develops outpatient medical buildings, hospitals, and lab buildings.

The Lab segment properties contain laboratory and office space, and are leased primarily to:

Biotechnology companies Medical device and pharmaceutical companies Scientific research institutions Government agencies Organizations involved in the life science industry Its CCRC segment is a retirement community that offers independent living, assisted living, memory care, and skilled nursing units, providing a continuum of care within an integrated campus.

Baird has an Outperform rating and a $19 price target.

Starwood Property Trust Starwood Capital is a well-established global investor with international investments across more than 30 countries, an affiliate of Starwood Property Trust (NYSE: STWD), which boasts a 10.60% dividend yield, and is led by real estate legend Barry Sternlicht. Starwood Property Trust operates as a REIT in the United States, Europe, and Australia. Since going public 15 years ago, it has kept its dividend intact, never once reducing it,  and has held its current payout steady for more than 10 years.

The company’s loan portfolio spans commercial, residential, and infrastructure assets, and it operates with a conservative leverage ratio below 3x. Its four operating segments are:

Commercial and Residential Lending Infrastructure Lending Property Investing and Servicing The Commercial and Residential Lending segment:

Originates, acquires, finances, and manages commercial first mortgages Non-agency residential mortgages Subordinated mortgages Mezzanine loans Preferred Equity Commercial mortgage-backed securities (CMBS) Residential mortgage-backed securities The Infrastructure Lending segment originates, acquires, finances, and manages infrastructure debt investments. In contrast, the Property segment primarily develops and manages equity interests in stabilized commercial real estate properties, including multifamily and net-leased commercial properties, held for investment purposes.

The Investing and Servicing segment:

Manages and works out problem assets Acquires and contains unrated, investment-grade, and non-investment-grade rated CMBS comprising subordinated interests of securitization and re-securitization transactions Originates conduit loans to sell these loans into securitization transactions and acquire commercial real estate assets, including properties from CMBS trusts Wells Fargo has an Outperform rating and a $21 target price.

Posted by Defense World Staff on Apr 26th, 2026

Evergreen Capital Management LLC acquired a new position in shares of Healthpeak Properties, Inc. (NYSE:DOC – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 33,815 shares of the real estate investment trust’s stock, valued at approximately $544,000.

Other hedge funds have also made changes to their positions in the company. Mather Group LLC. acquired a new position in Healthpeak Properties in the third quarter valued at $25,000. City Holding Co. acquired a new position in Healthpeak Properties in the third quarter valued at $26,000. CYBER HORNET ETFs LLC acquired a new position in Healthpeak Properties in the second quarter valued at $33,000. Wiser Advisor Group LLC acquired a new position in Healthpeak Properties in the third quarter valued at $38,000. Finally, AlphaQuest LLC boosted its holdings in Healthpeak Properties by 49.2% in the third quarter. AlphaQuest LLC now owns 2,864 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 944 shares during the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

Analysts Set New Price Targets A number of brokerages recently weighed in on DOC. The Goldman Sachs Group began coverage on Healthpeak Properties in a report on Friday, January 9th. They issued a “neutral” rating and a $17.00 target price on the stock. Evercore reduced their target price on Healthpeak Properties from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. Argus cut Healthpeak Properties from a “buy” rating to a “hold” rating in a report on Thursday, February 5th. Weiss Ratings upgraded Healthpeak Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Finally, Scotiabank upgraded Healthpeak Properties to a “hold” rating in a report on Thursday. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Healthpeak Properties currently has an average rating of “Hold” and a consensus price target of $19.04.

Get Our Latest Stock Analysis on Healthpeak Properties

Healthpeak Properties Trading Up 0.1% NYSE:DOC opened at $16.43 on Friday. The business’s 50-day moving average is $17.01 and its two-hundred day moving average is $17.22. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.82 and a quick ratio of 2.82. Healthpeak Properties, Inc. has a 12 month low of $15.71 and a 12 month high of $19.68. The firm has a market capitalization of $11.42 billion, a PE ratio of 164.28, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10.

Healthpeak Properties (NYSE:DOC – Get Free Report) last released its quarterly earnings data on Monday, February 2nd. The real estate investment trust reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. Healthpeak Properties had a return on equity of 0.84% and a net margin of 2.52%.The company had revenue of $719.40 million for the quarter, compared to analyst estimates of $685.14 million. During the same period last year, the company posted $0.46 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. Healthpeak Properties has set its FY 2026 guidance at 1.700-1.740 EPS. Research analysts predict that Healthpeak Properties, Inc. will post 1.74 earnings per share for the current fiscal year.

Healthpeak Properties Dividend Announcement The firm also recently announced a monthly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 15th will be given a dividend of $0.1017 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend is Monday, June 15th. Healthpeak Properties’s payout ratio is presently 1,220.00%.

Healthpeak Properties Company Profile (Free Report)

Healthpeak Properties, Inc is a real estate investment trust (REIT) specializing in healthcare-related real estate. Headquartered in Irvine, California, the company owns, develops and acquires a diversified portfolio of properties that cater to the evolving needs of the healthcare industry. Its investments span life science research facilities, medical office buildings and senior housing communities, positioning Healthpeak as a key provider of specialized real estate assets.

Within its life science segment, Healthpeak develops and leases laboratory and research space to biotechnology, pharmaceutical and other life science companies.

Featured Stories Five stocks we like better than Healthpeak Properties Want to see what other hedge funds are holding DOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Healthpeak Properties, Inc. (NYSE:DOC – Free Report).

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The healthcare sector may have defensive and recession-resistant qualities, but it admittedly doesn't have many high-yielding stocks. Among U.S.-listed healthcare stocks with market caps of more than $300 million, just a handful have a forward dividend yield of more than 5%.

However, if you extend the definition of "healthcare stocks" to some adjacent sectors, such as healthcare-focused real estate investment trusts (REITs), more options emerge. While dividend investors have quite a few choices, there may be some caveats with the following healthcare stocks: Perrigo (PRGO 3.27%), Healthpeak Properties (DOC 0.32%), and Medical Properties Trust (MPT 0.50%).

Image source: Getty Images.

Perrigo's high yield comes with high uncertainty Headquartered in Ireland, but operating worldwide, Perrigo is in the over-the-counter health and wellness products space. The company makes and sells branded products as well as private-label products for third-party retailers. On paper, Perrigo may seem like a golden opportunity among high-yield dividend stocks, mostly due to its high 9.6% forward yield, plus its 23-year track record of consecutive annual dividend increases.

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Annual dividend growth has also averaged over 5% for the past five years. However, strip away these appealing features, and you can see why Perrigo is such a bargain.

In recent years, Perrigo has experienced a growth slowdown. Factors such as high inflation and rising interest expenses have also put pressure on profitability. The stock has dropped over 87.5% over the past decade while the dividend has kept growing, turning Perrigo into an accidental high-yielder -- and a stock generally regarded as a value trap.

But there may be merit in this undervalued stock, which trades for only 5.5 times forward earnings. Shares have inched higher recently on takeover rumors. Even if a takeover is not in the cards, any news of a turnaround could be well received by the market, especially by those hopeful that Perrigo will continue its long-standing dividend growth streak.

Healthpeak Properties' restructuring could be what the doctor ordered One of the largest healthcare real estate investment trusts (REITs), Healthpeak Properties owns over 700 healthcare-related properties throughout the U.S. Its portfolio primarily focuses on outpatient healthcare facilities, but the REIT also owns other property types, including medical labs and senior housing.

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At current prices, Healthpeak has a forward dividend yield of 7.1%, making it one of the high-dividend REITs. It is also a monthly dividend stock. While Healthpeak has a spotty dividend-growth track record, an ongoing catalyst may be of interest to investors focused on capital growth.

Earlier this year, the REIT formed a new entity, Janus Living, for its senior housing assets. Janus went public in March in a nearly $1 billion IPO. Healthpeak continues to hold a majority stake in Janus.

Having Janus be a publicly traded subsidiary could help underscore the REIT's underlying value relative to its share price. Due to the REIT's past ownership of various types of healthcare real estate, it's possible the market previously applied a "conglomerate discount" to its shares relative to more pure-play healthcare REITs.

While it's unclear whether the restructuring will lead to more consistent dividend growth, considering the upside potential, this restructuring may just well be what the doctor ordered.

Despite stabilizing results, Medical Properties Trust still gives yield trap vibes Medical Properties Trust is yet another high-yielder with a lot of fleas. Currently, this hospital REIT has a forward dividend yield of around 6.8%. However, during 2023 and 2024, it reduced its quarterly cash dividend twice -- first from $0.29 to $0.15 per share, and then from $0.15 to just $0.08 per share.

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The key reason for this nearly 75% dividend cut was issues related to the REIT's largest tenants, namely the 2024 bankruptcy of Steward Health Care. Shares have stabilized since then. Medical Properties Trust has even recently raised its quarterly dividend to $0.09 per share.

However, tenant-related troubles persist. For instance, key tenants, including those who took over leases from Steward, are facing financial challenges. The REIT also has looming debt maturities, including over $2 billion in outstanding debt that comes due in 2027.

Nevertheless, it's not as if this REIT is destined to further flounder. As noted in Medical Properties Trust's latest quarterly results, normalized funds from operations, a metric commonly used to analyze REIT cash flow, came out to $0.18 per share last quarter . While not guaranteed, this suggests that, for now, this healthcare REIT can sustain its current dividend.

DENVER--(BUSINESS WIRE)--Healthpeak Properties, Inc. (NYSE: DOC), a leading owner, operator, and developer of real estate for healthcare discovery and delivery, today announced results for the quarter ended March 31, 2026. FIRST QUARTER 2026 FINANCIAL PERFORMANCE AND RECENT HIGHLIGHTS Net income of $0.28 per share, Nareit FFO of $0.42 per share, and FFO as Adjusted of $0.45 per share In March 2026, Janus Living, Inc. (NYSE: JAN) ("Janus Living") completed its initial public offering ("IPO") at.

Key Takeaways Healthpeak Properties reported Q1 FFOA of $0.45, beating estimates, with revenues up 7.1% year over year.DOC saw strong outpatient leasing, while lab leasing remained mixed, with occupancy expected to improve.Healthpeak Properties raised 2026 FFOA guidance after Janus Living IPO and active capital recycling efforts. Healthpeak Properties, Inc. (DOC - Free Report) posted first-quarter 2026 funds from operations as adjusted (FFOA) per share of 45 cents, beating the Zacks Consensus Estimate by 4.7%, but declined 2.2% year over year. Total revenues were $752.95 million, which rose 7.1% year over year and came ahead of the consensus mark by 12.1%.

The quarter’s performance reflected benefits from steady leasing activity, along with the Janus Living IPO and active capital allocation. Operationally, the company reported 1.2 million square feet of combined outpatient medical and lab new and renewal lease executions, reinforcing continued tenant demand in key parts of the portfolio.

DOC’s Leasing Shows Outpatient Strength, Lab PressureLeasing momentum remained an important operating signal. In outpatient medical, new leases totaled 195,000 square feet, and renewals totaled 868,000 square feet, with cash releasing spreads on renewals of 5.4%. The company also cited meaningful post-quarter leasing and letters of intent activity through early May.

Lab leasing was more mixed. New lab leases were 129,000 square feet, and renewals were 12,000 square feet, with 3.5% cash releasing spreads on renewals. Even with sequential occupancy improvement in the lab portfolio, management expects occupancy to build through year-end 2026, implying a continued focus on backfilling space and stabilizing that segment.

Healthpeak’s Janus Living IPO Reframes Growth DriversA central narrative for the quarter was the completion of the Janus Living IPO, which generated approximately $880 million of net proceeds. Healthpeak remains Janus Living’s largest shareholder, owning 81.6% as of early May 2026, and management tied the structure to favorable senior housing supply-demand dynamics.

Janus Living’s updates also carried operational relevance. The senior housing REIT reported first-quarter net income of 13 cents per share and FFOA of 23 cents per share, while noting it was under contract for about $400 million of additional senior housing acquisitions. Healthpeak consolidates Janus Living’s results, with the non-owned portion reflected as a noncontrolling interest.

Healthpeak’s Expense Lines Reflect Higher Cost BurdenOn the cost side, the quarter showed pressure from multiple lines. Operating expenses increased year over year, and interest expenses also moved higher, underscoring the relevance of financing costs in the current rate environment and the company’s capital structure.

Transaction costs were also elevated versus the year-ago period, consistent with activity tied to strategic initiatives, including the Janus Living IPO and investment pursuit costs. Offsetting items within other income included gains related to real estate activity and change-of-control items recorded during the quarter, influencing reported profitability.

DOC’s Balance Sheet Actions Highlight Recycling and BuybacksDOC emphasized continued capital recycling. The company generated $267 million of proceeds from recapitalizations, dispositions and loan repayments, including the recapitalization and sale of an 80% joint venture interest in a fully occupied, six-property outpatient medical portfolio valued at $212 million, which generated about $170 million of proceeds.

Capital return also featured prominently. In April 2026, the company repurchased 5.9 million common shares for roughly $100 million at a weighted average share price of $16.81.

Healthpeak exited the first quarter with cash and cash equivalents of $1.17 billion, significantly up from $467.5 million as of Dec. 31, 2025. Its net debt to adjusted EBITDAre was 5.4X as of March 31, 2026.

Healthpeak Raises 2026 View After Solid First QuarterManagement lifted FFOA per share guidance to $1.71-$1.75 from the earlier guided range of $1.70-$1.74. The Zacks Consensus Estimate is pinned at $1.74.

Same-store expectations were reaffirmed at (1.0%) to 1.0% for total same-store cash (adjusted) NOI growth for 2026.

Healthpeak currently carries a Zacks Rank #3 (Hold).

Performance of Other REITsCousins Properties (CUZ - Free Report) reported first-quarter 2026 FFO per share of 73 cents, topping the Zacks Consensus Estimate of 71 cents. The metric slipped 1.4% year over year. Results reflected healthy leasing activity in the quarter.

Boston Properties Inc.’s (BXP - Free Report) first-quarter 2026 FFO per share of $1.59 edged past the Zacks Consensus Estimate of $1.58. Still, FFO per share slipped 3.1% from $1.64 a year ago. BXP’s quarterly results reflected healthy leasing activity and higher occupancy.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

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Healthpeak Properties is still a Buy after the recent rally, supported by strong earnings, a robust dividend, and significant re-rating potential. DOC's Q1 2026 beat on FFO and revenue; completed the Janus Living IPO; and executed major acquisitions, reinforcing portfolio value and future growth prospects. With $1.17 billion in cash and a sustainable 6.2% monthly dividend yield (~70.7% payout ratio), DOC's dividend looks safe despite macroeconomic headwinds, leaving room for more buybacks.

Investors seeking high, stable cash flows may want to take a closer look at real estate investment trust HealthPeak Properties (DOC), a REIT headquartered in Denver.

HealthPeak Properties leases outpatient care, senior living, and laboratory-based properties across the United States. With a 6.3% yield, HealthPeak is among the highest-paying stocks in the S&P 500, well above the index's current 1% average.

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The company pays monthly distributions of 10.1 cents per share, with the next payout quickly approaching on May 15.

HealthPeak capitalized on growth in its senior living segment by spinning it off via an initial public offering of another REIT, Janus Living (JAN), which began trading in March. The IPO was priced at the top of its expected range at $20, and the stock has since appreciated more than 35% in just two months.

HealthPeak REIT Still Reaps Janus Benefits Importantly, the post-IPO success of Janus has not come at HealthPeak's expense. It is quite the opposite, as HealthPeak still owns more than 80% of the company.

That said, the spinoff does leave HealthPeak with its laboratory segment. The group faces headwinds including negative growth and low occupancy levels.

Still, the company's finances remain solid, with debt rated investment grade at BBB+ by S&P Global. The outlook brightened considerably when HealthPeak reported first-quarter results May 5. The company handily beat analyst expectations. Net income of 28 cents per share came in well above estimates for just 3 cents. It also raised its full-year outlook.

The results caught the market off guard — sentiment had been negative heading into the report. Shares surged 19% in a single session, a remarkable move for a large-cap REIT.

HealthPeak shares broke out past a 17.43 buy point in a cup-without-handle pattern on May 6. The stock has continued higher and now trades well above both its 50-day and 200-day moving averages. Investor's Business Daily gives it a Relative Strength Rating of 71.

Steven Bell is a writer and trader based out of Vancouver, British Columbia. He is the author of IBD's Income Investor column, focused on shedding insight on low-risk, underfollowed stocks.

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A sign at the offices of dairy group Arla Foods in Copenhagen, Denmark, February 17, 2026. REUTERS/Tom Little Purchase Licensing Rights, opens new tab

CompaniesBRUSSELS, May 28 (Reuters) - The European Union on ​Thursday approved Arla ‌Foods' acquisition of Germany's DMK and ​Dutch cooperative ​DOC without conditions, saying ⁠the deal ​would not harm competition ​in the European Economic Area.

The European Commission ​said in ​a statement its investigation found ‌the ⁠merger would not significantly reduce competition in raw ​milk ​procurement ⁠or in the supply of ​dairy products, ​including ⁠private-label goods sold to retailers ⁠across ​northern Europe.

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Reporting ​by Charlotte Van Campenhout, Editing ​by Brussels bureau

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Healthpeak Properties offers a diversified, growth-oriented REIT portfolio with 40% life science exposure and robust 2026 FFO guidance of $1.71–$1.75 per share. DOC maintains conservative 37.3% leverage, investment-grade ratings with a stable outlook, and a well-covered 6.2% monthly dividend supported by a 70% payout ratio. Alexandria Real Estate is in portfolio contraction mode, facing sector oversupply and negative re-leasing spreads, with 2026 FFO guidance annualized at $5.80 per share.