Wells Fargo Adjusts Healthpeak Properties Price Target to $19 From $22

Crown Castle (CCI) and Healthpeak Properties (PEAK) both raised 2026 outlooks in Q2. CCI yields 5.4% with a 93% AFFO payout ratio for 2026, while PEAK yields 6.7% with a 78% ratio. CCI trades at 16x forward AFFO, PEAK at 12x. Both have cut dividends previously. CCI's Q2 AFFO rose to $1.13/share, with full-year outlook at $4.53-$4.65.

Healthpeak Properties (DOC) raised its 2026 guidance, citing strong performance in outpatient medical and lab leasing, and significant growth at its senior housing operator, Janus Living (JAN). The company reported $0.46 FFO per share, flat year-over-year, and used asset sales to reduce debt and fund buybacks. Lab segment NOI declined, and leverage remains at 4.7x EBITDAre.

DO & CO reported Q1 FY26/27 results despite Middle East headwinds. Sales rose 5% to €642m and EBIT rose 8% to €57m, margin 8.8%. Net profit increased 16% to €31m. Management said conflict-related costs reduced sales by about €40m. FY26/27 targets are 6-8% sales growth with EBIT margin 8.6-9.0%.

Healthpeak Properties (NYSE:DOC) highlighted Q2 results and updates on capital recycling and leasing. It recapitalized a Brookfield outpatient portfolio, retaining 51% interest and raising $1B cash, and noted a 5.9% trailing cash cap rate. Lab occupancy rose to 78.5%. Net debt/adj. EBITDA was 4.7x with $4.1B liquidity; it repaid $900M debt and repurchased $100M shares.

Healthpeak Properties (DOC) is a U.S. healthcare REIT with a $14.9B market cap. The stock rose 31.8% over the past year and nearly 41% in 2026. After Q2 2026 results on Aug. 4, revenue was $771.6M and adjusted FFO was $0.46, both above estimates. Full-year FFO guidance is $1.73 to $1.77. Analysts rate DOC a “Moderate Buy,” with Barclays holding a $23 target.

HEALTHPEAK PROPERTIES, INC. (DOC) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Healthpeak Properties Reports Second Quarter 2026 Results and Increases Full Year 2026 Earnings Guidance DENVER, August 4, 2026 - Healthpeak Properties, Inc. (NYSE: DOC) ("Healthpeak"), a leading owner, operator, and developer of real estate for healthcare discovery