Healthpeak raises full-year 2026 diluted EPS guidance to $0.48-$0.52.
Company lifts 2026 FFO as Adjusted per share forecast to $1.73-$1.77.
Healthpeak now sees 2026 same-store cash NOI growth of 0%-1.5%.
Q2 results and capital return
US healthcare real estate REIT's Q2 adjusted FFO per share was flat year over year at $0.46.
Company authorized a new $500 mln share repurchase program.
Full-year 2026 earnings guidance was raised by $0.02 per share at the midpoint.
Operational drivers and analyst coverage
Leasing activity - Co executed 1.6 mln sq ft of new and renewal leases in Outpatient Medical and Lab segments in Q2, contributing to occupancy gains.
Capital transactions - Co generated $1.4 bln of proceeds from recapitalizations, loan repayments, and asset sales during Q2 and through August 3, used to strengthen the balance sheet.
Senior housing growth - Janus Living reported 45% year-over-year revenue growth and 19.2% same-store NOI growth, driven by acquisitions and margin expansion.
The current average analyst rating on the shares is "hold", with 7 "strong buy" or "buy", 15 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the specialized REITs peer group is "buy".
Wall Street's median 12-month price target for Healthpeak Properties, Inc. is $22.00, about 1.7% above its August 3 closing price of $21.64.
The stock recently traded at 91 times the next 12-month earnings vs. a P/E of 78 three months ago.
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