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.
DENVER & NEW YORK--(BUSINESS WIRE)--Healthpeak Properties, Inc. (NYSE: DOC) ("Healthpeak") and Brookfield Asset Management (NYSE: BAM, TSX: BAM) (“Brookfield”), today announced the formation of a long-term strategic capital partnership through a joint venture involving a portfolio of outpatient medical buildings across the United States.The portfolio contributed by Healthpeak is comprised of 86 properties totaling approximately 5.6 million square feet, valued at approximately $2.1 billion. The p.
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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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DENVER--(BUSINESS WIRE)--Healthpeak Properties, Inc. (NYSE: DOC) ("Healthpeak"), a leading owner, operator, and developer of real estate for healthcare discovery and delivery, announced that on July 9, 2026, its Board of Directors declared a monthly common stock cash dividend of $0.10167 per share for the third quarter of 2026, 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 in the table below. The.
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.
DENVER--(BUSINESS WIRE)--Healthpeak Properties, Inc. ("Healthpeak") (NYSE: DOC) announced today the release of its 15th annual 2025 Corporate Impact Report (the "Report"). The Report highlights Healthpeak's continued focus on building a resilient portfolio, advancing sustainability goals, fostering a workplace culture guided by its WE CARE core values, and promoting sound corporate governance and transparency.
"As one of the nation’s leading owners of Outpatient Medical, Lab, and Senior Housing real estate, we have invested in a high-quality, resilient portfolio that supports healthcare discovery and delivery," said Scott Brinker, President and Chief Executive Officer. "This Report demonstrates how we are advancing environmental stewardship, supporting our people and communities, and maintaining strong governance practices, all in service of delivering durable outcomes for our stakeholders."
Performance & Team Highlights
Environmental progress: Achieved a 3.4% like-for-like reduction in energy use in 2025 (10.3% cumulative since 2020) and a 0.5% like-for-like reduction in greenhouse gas emissions (26.9% cumulative since 2018). Also reduced water consumption 1.5% in 2025 (13.0% cumulative since 2020) and increased recycling 0.6% in 2025 (12.7% cumulative since 2020). Resilient buildings: Achieved more than 840,000 square feet of new LEED certifications, 14 new ENERGY STAR certifications, and 13 inaugural ENERGY STAR NextGen certifications. Team and culture: Continued to invest in employee development, community engagement, and a values-driven workplace culture guided by Healthpeak's WE CARE core values. Governance leadership: Maintained strong corporate governance practices, including cybersecurity oversight, responsible AI use, and a commitment to transparency and accountability. Recent Recognitions
Green Lease Leader Platinum by the Institute for Market Transformation GRESB Green Star Rating (2012–2025) CDP Leadership/Management Band (2012–2025) Nareit Leader in the Light (10-time award recipient) Great Place to Work Certified DJSI North America Index constituent (13 consecutive years), including World Index (5 times) S&P Global Sustainability Yearbook member (11 consecutive years) Newsweek's America's Most Responsible Companies (7 consecutive years) Governance Intelligence and IR Magazine – Governance Professional of the Year (2025) The Report was prepared with reference to disclosure standards established by the Global Reporting Initiative (GRI), Task Force on Climate-related Financial Disclosures (TCFD), and United Nations Sustainable Development Goals (UN SDGs). The Report focuses on property performance within Healthpeak's operational boundary owned as of December 31, 2025.
To learn more and view the Report, please visit www.healthpeak.com/corporate-impact.
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. For more information, visit www.healthpeak.com.
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.
DENVER--(BUSINESS WIRE)--Healthpeak Properties, Inc. (NYSE: DOC), a leading owner, operator, and developer of real estate for healthcare discovery and delivery, is scheduled to report second quarter 2026 financial results after the close of trading on the New York Stock Exchange on Tuesday, August 4, 2026.
Healthpeak will host a conference call and webcast on Wednesday, August 5, 2026 at 10:00 a.m. Eastern Time to review its financial performance and operating results.
The conference call can be accessed in the following ways:
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 through August 4, 2027.
ABOUT HEALTHPEAK PROPERTIES
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. For more information regarding Healthpeak, visit https://www.healthpeak.com/.
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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.
Advisors Capital Management LLC boosted its holdings in shares of Healthpeak Properties, Inc. (NYSE:DOC – Free Report) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,439,624 shares of the real estate investment trust’s stock after purchasing an additional 34,929 shares during the quarter. Advisors Capital Management LLC owned about 0.21% of Healthpeak Properties worth $23,149,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in DOC. Vanderbilt University bought a new stake in Healthpeak Properties during the third quarter worth $1,263,000. Argent Advisors Inc. bought a new stake in Healthpeak Properties during the third quarter worth $1,536,000. Twin City Private Wealth LLC bought a new stake in Healthpeak Properties during the third quarter worth $1,148,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Healthpeak Properties by 7.0% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,935,397 shares of the real estate investment trust’s stock worth $37,063,000 after acquiring an additional 126,322 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Healthpeak Properties by 8.4% during the third quarter. Bank of New York Mellon Corp now owns 6,754,147 shares of the real estate investment trust’s stock worth $129,342,000 after acquiring an additional 525,875 shares during the period. Institutional investors own 93.57% of the company’s stock.
Healthpeak Properties Stock Performance NYSE:DOC opened at $16.43 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.82 and a current ratio of 2.82. Healthpeak Properties, Inc. has a 52-week low of $15.71 and a 52-week high of $19.68. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 164.28, a PEG ratio of 2.26 and a beta of 1.10. The business’s fifty day moving average is $17.01 and its 200 day moving average is $17.22.
Healthpeak Properties (NYSE:DOC – Get Free Report) last posted its earnings results on Monday, February 2nd. The real estate investment trust reported $0.47 EPS for the quarter, topping 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 business had revenue of $719.40 million during the quarter, compared to analysts’ expectations of $685.14 million. During the same period in the previous year, the business earned $0.46 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. 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 EPS for the current year.
Healthpeak Properties Dividend Announcement The firm also recently announced a monthly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 15th will be given a dividend of $0.1017 per share. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date is Monday, June 15th. Healthpeak Properties’s payout ratio is presently 1,220.00%.
Analysts Set New Price Targets Several analysts have issued reports on DOC shares. Argus lowered Healthpeak Properties from a “buy” rating to a “hold” rating in a research note on Thursday, February 5th. UBS Group started coverage on Healthpeak Properties in a research note on Monday, April 20th. They issued a “neutral” rating and a $17.00 target price on the stock. Robert W. Baird lowered their target price on Healthpeak Properties from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Wells Fargo & Company restated a “positive” rating on shares of Healthpeak Properties in a research note on Tuesday, February 3rd. Finally, Weiss Ratings upgraded Healthpeak Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $19.04.
Read Our Latest Research Report on DOC
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.
Further Reading Five stocks we like better than Healthpeak Properties
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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.
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DiamondRock Hospitality (NYSE:DRH – Get Free Report) and Healthpeak Properties (NYSE:DOC – Get Free Report) are both finance companies, but which is the better investment? We will contrast the two companies based on the strength of their institutional ownership, risk, analyst recommendations, profitability, dividends, valuation and earnings.
Profitability This table compares DiamondRock Hospitality and Healthpeak Properties’ net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets DiamondRock Hospitality 5.69% 4.04% 2.05% Healthpeak Properties 2.52% 0.84% 0.36% Dividends DiamondRock Hospitality pays an annual dividend of $0.36 per share and has a dividend yield of 3.5%. Healthpeak Properties pays an annual dividend of $1.22 per share and has a dividend yield of 7.4%. DiamondRock Hospitality pays out 81.8% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. Healthpeak Properties pays out 1,220.0% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. DiamondRock Hospitality has raised its dividend for 1 consecutive years.
Earnings and Valuation This table compares DiamondRock Hospitality and Healthpeak Properties”s gross revenue, earnings per share and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio DiamondRock Hospitality $1.12 billion 1.87 $48.05 million $0.44 23.23 Healthpeak Properties $2.82 billion 4.05 $71.35 million $0.10 164.26 Healthpeak Properties has higher revenue and earnings than DiamondRock Hospitality. DiamondRock Hospitality is trading at a lower price-to-earnings ratio than Healthpeak Properties, indicating that it is currently the more affordable of the two stocks.
Risk and Volatility DiamondRock Hospitality has a beta of 0.99, meaning that its share price is 1% less volatile than the S&P 500. Comparatively, Healthpeak Properties has a beta of 1.1, meaning that its share price is 10% more volatile than the S&P 500.
Analyst Recommendations This is a summary of current recommendations for DiamondRock Hospitality and Healthpeak Properties, as reported by MarketBeat.com.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score DiamondRock Hospitality 0 6 4 0 2.40 Healthpeak Properties 0 9 6 0 2.40 DiamondRock Hospitality presently has a consensus price target of $10.36, indicating a potential upside of 1.38%. Healthpeak Properties has a consensus price target of $19.04, indicating a potential upside of 15.89%. Given Healthpeak Properties’ higher possible upside, analysts clearly believe Healthpeak Properties is more favorable than DiamondRock Hospitality.
Insider and Institutional Ownership 93.6% of Healthpeak Properties shares are owned by institutional investors. 0.9% of DiamondRock Hospitality shares are owned by company insiders. Comparatively, 0.2% of Healthpeak Properties shares are owned by company insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company is poised for long-term growth.
Summary Healthpeak Properties beats DiamondRock Hospitality on 9 of the 16 factors compared between the two stocks.
About DiamondRock Hospitality (Get Free Report)
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.
About Healthpeak Properties (Get Free Report)
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 for healthcare discovery and delivery.
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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.
Key Takeaways Healthpeak Properties is set to report Q1 results with projected declines in revenue and FFO per share.DOC may benefit from lab demand and rising senior housing needs supporting segment performance.Higher interest expenses and competition likely weighed on profitability and revenue growth. Healthpeak Properties, Inc. (DOC - Free Report) is slated to report its first-quarter 2026 results on May 5, after market close. The company’s quarterly results are likely to display a year-over-year fall in revenues and funds from operations (FFO) per share.
In the last reported quarter, this healthcare real estate investment trust (REIT) posted an FFO as adjusted per share of 47 cents, which beat the Zacks Consensus Estimate of 45 cents. Results reflected better-than-anticipated revenues. Growth in total merger-combined same-store cash (adjusted) net operating income was witnessed across the portfolio.
In the preceding four quarters, Healthpeak’s FFO, as adjusted per share, surpassed the Zacks Consensus Estimate on two occasions and met in the remaining periods, with the average beat being 1.67%. The graph below depicts this surprise history:
Factors at Play for HealthpeakThe increasing life expectancy of the U.S. population and biopharma drug development growth opportunities have promoted the lab real estate market fundamentals. Healthpeak’s focus on the lab segment is a strategic fit and is expected to have benefited from this tailwind.
Moreover, the senior citizen population is on the rise, and the healthcare expenditure of this age cohort is usually on the higher end compared with the general population. Healthpeak’s life plan communities, which refer to its retirement communities that include independent living, assisted living, memory care and skilled nursing units, is anticipated to have benefited from this positive expenditure trend, supporting the segment’s quarterly performance.
However, high interest expenses during the first quarter are likely to have been a spoilsport for Healthpeak. The company’s operators contend with peers for occupancy. This would have likely hurt Healthpeak’s power to raise rents and affect revenues and profitability.
DOC’s Projections for Q1For the first quarter, the Zacks Consensus Estimate for DOC’s rental and related revenues stands at $530.72 million, indicating a fall of 1.4% from the year-ago reported number.
The Zacks Consensus Estimate for DOC’s interest income and revenues currently stands at $15.69 million, implying a marginal rise from the prior-year period’s reported figure.
The Zacks Consensus Estimate for first-quarter total revenues is pegged at $671.93 million, indicating a decline of 4.4% from the year-ago reported number.
Before the first-quarter earnings release, the company’s activities were inadequate to gain analysts’ confidence. The Zacks Consensus Estimate for the quarterly FFO per share has decreased a cent to 43 cents over the past month. The figure suggests 6.52% fall from the year-ago quarter’s tally.
What Our Quantitative Model Predicts for HealthpeakOur proven model does not conclusively predict a surprise in terms of FFO per share for DOC this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is not the case here.
Healthpeak currently has an Earnings ESP of -1.55% and carries a Zacks Rank of #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks That Warrant a LookHere are two stocks from the broader REIT sector, Host Hotels & Resort (HST - Free Report) and Terreno Realty (TRNO - Free Report) , you may want to consider, as our model shows that these have the right combination of elements to report an FFO beat this quarter.
HST is slated to report quarterly numbers on May 6. HST has an Earnings ESP of +0.98% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
TRNO is slated to report quarterly numbers on May 6. TRNO has an Earnings ESP of +0.50% and carries a Zacks Rank of 3 at present.
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.
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.
Healthpeak (DOC - Free Report) came out with quarterly funds from operations (FFO) of $0.45 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to FFO of $0.46 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of +4.65%. A quarter ago, it was expected that this health care real estate investment trust would post FFO of $0.45 per share when it actually produced FFO of $0.47, delivering a surprise of +4.44%.
Over the last four quarters, the company has surpassed consensus FFO estimates three times.
Healthpeak, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $752.95 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 12.06%. This compares to year-ago revenues of $702.89 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
Healthpeak shares have added about 1.3% since the beginning of the year versus the S&P 500's gain of 5.2%.
What's Next for Healthpeak?While Healthpeak has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Healthpeak was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.44 on $666.5 million in revenues for the coming quarter and $1.74 on $2.71 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Chatham Lodging (CLDT - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.
This real estate investment trust is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +14.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Chatham Lodging's revenues are expected to be $65.17 million, down 5.1% from the year-ago quarter.
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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REITs are undervalued and out-of-favor compared to AI-driven tech stocks, creating a contrarian opportunity. Rising construction costs are constraining new supply, increasing the value and pricing power of existing REIT portfolios. Multiple REITs, including AH REALTY TRUST, Chiron Real Estate, Piedmont Realty Trust, and Healthpeak Properties, report higher replacement costs and favorable re-leasing spreads.
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.
Healthpeak Properties earns a buy rating, driven by strong capital allocation and a compelling portfolio mix across Outpatient Medical, Labs, and Senior Housing. DOC trades at ~11x P/FFO with a >6% dividend yield, offering both stability and upside from secular and cyclical trends in its segments. Recent moves—like the Janus Living IPO, opportunistic acquisitions, and disciplined share buybacks—unlock value and enhance capital efficiency.
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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Key Takeaways Healthpeak expanded lab and outpatient leasing as occupancy and rent spreads improved in Q1 2026.DOC posted 13.8% senior housing NOI growth and Janus Living revenue rose 35% Y/Y.Healthpeak raised liquidity with $267M in proceeds and a new $400M unsecured term loan. Shares of Healthpeak Properties (DOC - Free Report) have gained 22.7% over the year-to-date period, outperforming the industry's upside of 12.7%.
This healthcare real estate, carrying a Zacks Rank #3 (Hold), is strategically positioning 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 remains a strategic fit, as drug discovery and development spending supports long-term demand for high-quality lab real estate in 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 LOI. Total lab occupancy ended the first quarter of 2026 at 77.7%, up from the 77% at year-end 2025. Management expects year-end 2026 lab occupancy to be higher than the 2025 level.
The outpatient medical segment continues to show steady fundamentals that support 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, 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 continues to reposition its portfolio toward lab, outpatient medical and life plan assets in high barrier-to-entry markets, using dispositions and structured transactions to fund growth. In the first quarter of 2026, it generated $267 million of proceeds from recapitalizations, dispositions and loan repayments, including a joint venture recapitalization. These actions support a longer-term approach to driving per-share earnings growth while keeping investment activity flexible across cycles.
Healthpeak has been taking steps to bolster its near-term liquidity. The company ended the first quarter of 2026 with net debt-to-EBITDA of 5.4x. Cash and cash equivalents rose to $1.17 billion from $467.5 million in the last quarter, reflecting the Janus Living IPO proceeds. As of May 4, 2026, it maintained long-term credit ratings of Baa1 from Moody’s and BBB+ from S&P Global. The company 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 American Tower (AMT - Free Report) and Lamar Advertising (LAMR - Free Report) , each carrying a Zacks Rank of #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 AMT’s 2026 FFO per share is pegged at $10.95, which indicates year-over-year growth of 1.77%.
The Zacks Consensus Estimate for LAMR’s full-year FFO per share is pinned at $8.63, which suggests an increase of 4.48% 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.
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
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It has been about a month since the last earnings report for Healthpeak (DOC - Free Report) . Shares have lost about 2.2% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Healthpeak due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Healthpeak Q1 FFOA Tops Estimates on Steady Leasing MomentumHealthpeak Properties 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 exceeded the consensus mark by 12.1%.
The quarter’s performance reflected the 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.
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.
Balance Sheet Actions Highlight Recycling and BuybacksHealthpeak 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.
Same-store expectations were reaffirmed at (1.0%) to 1.0% for total same-store cash (adjusted) NOI growth for 2026.
How Have Estimates Been Moving Since Then?Estimates revision followed a downward path over the past two months.
VGM ScoresAt this time, Healthpeak has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook Healthpeak has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerHealthpeak belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Cousins Properties (CUZ - Free Report) , has gained 1.7% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.
Cousins Properties reported revenues of $261.11 million in the last reported quarter, representing a year-over-year change of +7.4%. EPS of -$0.15 for the same period compares with $0.74 a year ago.
Cousins Properties is expected to post earnings of $0.73 per share for the current quarter, representing a year-over-year change of +4.3%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Cousins Properties. Also, the stock has a VGM Score of F.
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.
