Healthpeak Raises Full-Year Guidance Amid Portfolio Sales and Janus Living Growth
On August 4, Healthpeak Properties (NYSE:DOC) reported its Q2 results and raised full-year guidance for the second time in 2026. The company now expects diluted earnings per share of $0.48 to $0.52 and adjusted FFO between $1.73 to $1.77, reflecting improved performance across most segments. Outpatient medical occupancy increased by 20 basis points to 90.7%, while lab occupancy rose sharply to 78.5%. Janus Living (NYSE:JAN), in which Healthpeak holds a controlling stake of 73.6%, saw significant growth, with revenue rising 45% year-over-year and adjusted EBITDA up by 34%. Healthpeak also used the quarter to strengthen its balance sheet through asset sales and debt reduction. A $1.025 billion recapitalization in July involved selling a stake in an outpatient medical portfolio, while other dispositions generated total proceeds of around $1.4 billion. The company repaid over $650 million in senior notes and commercial paper and authorized a new share buyback program worth up to $500 million. Despite these gains, lab segment performance lagged with same-store net operating income declining by 3.2%. Healthpeak’s leverage remains at 4.7 times adjusted EBITDAre, indicating ongoing balance sheet management is necessary.
Topics: Balance Sheet Management Healthcare REIT Outpatient Medical Leasing Portfolio Sales