With a market cap of $13.6 billion, Healthpeak Properties, Inc. (DOC) is a self-administered REIT that owns, operates, and develops high-quality healthcare real estate across the United States. The company maintains a diversified portfolio of 703 properties, focusing on outpatient medical, laboratory, and continuing care retirement community (CCRC) assets, which support healthcare discovery and delivery nationwide.
Shares of the Maryland, USA-based company have lagged behind the broader market over the past 52 weeks. DOC stock has risen 11.8% over this time frame, while the broader S&P 500 Index ($SPX) has increased 31.4%. However, shares of the company are up 21.3% on a YTD basis, outpacing SPX’s 7.6% gain.
Zooming in further, shares of the healthcare REIT have exceeded the State Street Real Estate Select Sector SPDR ETF’s (XLRE) 7.6% return over the past 52 weeks.
Shares of Healthpeak Properties surged 18.1% following its Q1 2026 results on May 5 as the company reported adjusted FFO of $0.45 per share and revenue rose to $753 million, beating analyst expectations. Investor sentiment was further boosted after the company slightly raised its full-year 2026 adjusted FFO guidance to $1.71 per share - $1.75 per share and highlighted strong leasing activity, including 1.2 million square feet of outpatient medical and lab lease executions with positive cash releasing spreads of +5.4% for outpatient renewals and +3.5% for lab renewals.
The successful IPO of Janus Living (JAN) at the high end of its valuation range, which generated approximately $880 million in net proceeds, also strengthened investor confidence despite higher quarterly operating expenses of $747.4 million.
For the fiscal year ending in December 2026, analysts expect Healthpeak Properties’s AFFO per share to decline 5.4% year-over-year to $1.74. However, the company’s earnings surprise history is promising. It beat or met the consensus estimates in the last four quarters.
Among the 19 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on seven “Strong Buy” ratings, two “Moderate Buys,” and 10 “Holds.”
On Apr. 28, Morgan Stanley cut its price target for Healthpeak Properties to $18 while maintaining an “Overweight” rating.
As of writing, the stock is trading above the mean price target of $19.22. The Street-high price target of $29 suggests a 48.7% potential upside.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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