Healthpeak Properties Earnings Preview: What to Expect

With a market cap of $11.4 billion, Healthpeak Properties, Inc. (DOC) owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery across the United States. The company manages a diversified portfolio spanning outpatient medical, lab, and continuing care retirement community properties.

The Denver, Colorado-based company is expected to release its fiscal Q1 2026 results soon. Ahead of this event, analysts project DOC to report an FFO as Adjusted of $0.44 per share, a decline of 4.4% from $0.46 in the year-ago quarter. It has surpassed or met Wall Street's bottom-line estimates in the last four quarterly reports.

For fiscal 2026, analysts forecast Healthpeak Properties to report FFO as Adjusted of $1.73 per share, down nearly 6% from $1.84 in fiscal 2025. However, FFO as Adjusted is anticipated to grow 2.9% year-over-year to $1.78 per share in fiscal 2027. 

DOC stock has decreased nearly 17% over the past 52 weeks, lagging behind the broader S&P 500 Index's ($SPX) nearly 17% gain and the State Street Real Estate Select Sector SPDR ETF's (XLRE) 2% dip over the same time frame.

Shares of Healthpeak Properties fell 2.8% following its Q4 2025 results on Feb. 2, primarily due to weak forward guidance, with 2026 Nareit FFO projected at $1.70 per share - $1.74 per share, below its 2025 level of $1.81. Additionally, a drop in AFFO to $0.40 from $0.44 year-over-year and heavy capital recycling plans, including ~$1 billion in asset sales and uncertainty around the Janus Living IPO, added to concerns.

Analysts' consensus view on DOC stock is cautiously optimistic, with a "Moderate Buy" rating overall. Among 18 analysts covering the stock, seven suggest a "Strong Buy," two give a "Moderate Buy," and nine recommend a "Hold." The average analyst price target for Healthpeak Properties is $19.47, indicating a potential upside of 18.5% from the current levels.