BMO Capital analyst Juan C. Sanabria has maintained their bullish stance on DOC stock, giving a Buy rating on October 15.
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Juan C. Sanabria has given his Buy rating due to a combination of factors including Healthpeak Properties’ strong third-quarter performance and maintained guidance. The company’s adjusted funds from operations (Adj-FFO) exceeded expectations, coming in at $0.46 per share, which was above both the Street and BMO estimates. This positive earnings surprise suggests a robust financial position.
Furthermore, the company’s guidance for the full year remains ahead of expectations, with an Adj-FFO guidance of $1.84 per share, indicating confidence in future performance. Despite challenges in the lab sector, such as a decline in occupancy, Healthpeak Properties is strategically positioned to leverage its $1 billion in medical office building sales for future investments and potential buybacks. These strategic moves, coupled with cost-cutting measures in general and administrative expenses, reinforce the Buy rating.
In another report released on October 15, Evercore ISI also maintained a Buy rating on the stock with a $22.00 price target.