DOC Stock Forecast & Price Target

Healthpeak Properties is well-positioned for growth, driven by its diverse healthcare portfolio, which includes approximately 700 properties primarily in medical office and life science sectors. The company's recent expansion efforts are underscored by new development starts totaling $148 million, with a high pre-leasing rate of about 80% and anticipated stabilized yields in the mid-7% range, reflecting sound financial execution and attractive returns. These factors contribute to a favorable outlook for the company's continued performance in the healthcare real estate sector.

Healthpeak Properties faces a negative outlook primarily due to increased credit risk associated with its Lab tenants, which has led to a downward revision of its 2026 earnings projections and a reduction in its applied price-to-AFFOPS multiple. The company has experienced weak leasing activity in Q2, prompting a shift in forecasted compound annual growth rates for FFOPS and AFFOPS from previously optimistic figures to a more tepid expectation of +1%/-1% for 2026-2027. Additionally, management has acknowledged potential headwinds to Lab occupancy resulting from slow capital raising in the second half of 2025, further contributing to concerns about future performance.