tiprankstipranks
Healthpeak Properties Beats Q2 Earnings Expectations, Updates Guidance
Market News

Healthpeak Properties Beats Q2 Earnings Expectations, Updates Guidance

Healthpeak Properties, Inc. (PEAK) reported stronger than expected Q2 results, largely driven by robust performance in life science and medical office portfolios.

Shares of the real estate investment trust (REIT) catering to the healthcare industry have gained 36% over the past year.

Adjusted earnings per share of $0.51 jumped over five times year-over-year, and beat analysts’ expectations of $0.18 per share. The company reported earnings of $0.09 per share in the prior-year period. (See Healthpeak Properties stock charts on TipRanks)

Adjusted Funds from Operations (FFO) remained flat year-over-year at $0.40 per share. However, Nareit FFO decreased to $0.28 per share compared to $0.34 in the prior-year quarter.

The company reported blended total same-store portfolio cash (adjusted) NOI growth of 1.2%.

Looking ahead, the company updated its full-year guidance. The company now forecasts adjusted earnings in the range of $0.95 to $1.01 per share, down from the prior range of $0.98 to $1.06 per share.

Adjusted FFO is likely to range between $1.55 and $1.61 per share, versus the prior guidance range of $1.53–$1.61 per share.

Following the Q2 results, BMO Capital analyst Juan C. Sanabria reiterated a Buy rating on the stock with a price target of $37.

Sanabria forecasts the company to report earnings of $0.27 per share for the third quarter of 2021.

Overall, the stock has a Moderate Buy consensus rating based on seven Buys, five Holds, and one Sell. The average Healthpeak Properties price target of $35.33 implies 5.1% downside potential from current levels.

Related News:
Centerspace Beats Q2 Earnings Expectations, Raises FY2021 Guidance
SolarEdge Technologies Posts Upbeat Q2 Results; Shares Gain 10% After-Hours
Black Stone Minerals Misses Q2 Estimates; Shares Drop 2.4%

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles