Morgan Stanley Downgrades Healthpeak Properties to Hold
Morgan Stanley lowered its rating on Healthpeak Properties to hold with a $22 price target, a 9.51% upside from the current price.
Key Points
- On June 11, 2026, Morgan Stanley downgraded Healthpeak Properties, Inc. (NYSE:DOC) to a hold rating with a $22 price target.
- Morgan Stanley's $22 price target implies 9.51% upside from Healthpeak Properties, Inc.'s ($DOC) current $20.09 share price.
- Healthpeak Properties' stock is trading at $20.69, with a market cap of about $14.26 billion and a P/E ratio of 64.7.
- Insider activity includes recent purchases and sales by executives, and analysts have mixed ratings with a consensus price target around $21.06.
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On June 11, 2026, Morgan Stanley analyst Richard Hill downgraded Healthpeak Properties, Inc. (NYSE:DOC) to a hold rating, setting a price target of $22. This change comes as the stock trades around $20.69 on the New York Stock Exchange.
Other Institutional Activity in Healthpeak Properties
Several major funds have recently adjusted their holdings in Healthpeak Properties. BlackRock, Inc. trimmed its stake by 182,068 shares, leaving it with 73,360,519 shares valued at about $1.21 billion. Vanguard Portfolio Management LLC established a new position with 58,125,899 shares worth approximately $955 million. Meanwhile, State Street Corp reduced its holdings by 872,866 shares, now holding 48,500,600 shares valued at around $796.9 million. JPMorgan Chase & Co notably increased its position by 14,056,729 shares, bringing its total to 44,731,541 shares worth about $740.3 million.
Healthpeak Properties, Inc. Stock Down 4.2%
Shares of Healthpeak Properties, Inc. (NYSE:DOC) are trading near $20.69. The company has a market cap of approximately $14.26 billion and a P/E ratio of 64.7. The stock's 52-week range is between $15.70 and $20.82, with a 50-day moving average of $18.27 and a 200-day moving average of $17.72. Healthpeak has a current ratio of 2.04 and a quick ratio of 1.41, with a debt-to-equity ratio of 118.24.
$DOC price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
In its latest earnings report, Healthpeak Properties reported revenue of $2.87 billion, reflecting a growth rate of 7.1%. The company achieved a net margin of 7.73% and a return on equity of 2.8%. Earnings per share stood at $0.32. The next earnings release is scheduled for July 23, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
6 target raises vs 1 cuts.
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EPS & revenue
EPS beat estimates by 515.4%. Revenue beat estimates by 7.3%.
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Profit surprise
EBITDA beat by 47 percent. Operating income beat sharply.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
6 target raises, 1 target cut.
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Earnings quality
Gross margin down 81.1 points. Operating margin down 3.7 points. Positive free cash flow.
Earnings Call Summary
Healthpeak had a solid first quarter with outpatient medical leasing spreads of 5.4 percent and occupancy at 91 percent, while life science occupancy reached 77.7 percent with strong leasing momentum. The company completed the Janus Living IPO generating value and deployed $714 million into senior housing acquisitions, plus bought back $100 million of stock in April to improve future earnings. Management noted that life science market conditions are improving with strong M&A activity and capital raising, and they expect occupancy to grow at least 100 basis points by year-end.
Guidance Management expects full-year FFO between $1.71 and $1.75 per share, up from previous guidance, reflecting the successful Janus Living spin and senior housing outperformance. They plan to deploy about $750 million into acquisitions by year-end to offset IPO dilution and drive growth in 2027.
Good report. The company beat and showed some forward improvement, with a few meaningful caveats.
Dividend
Healthpeak Properties offers an annual dividend rate of $1.22, yielding 5.9%. The company's dividend payout ratio is 381.26%.
Insider Buying and Selling at Healthpeak Properties, Inc.
Recent insider transactions at Healthpeak Properties include EVP and Treasurer Ankit Patadia buying 1,358 shares at $15.46 on May 29, 2026, and selling 94 shares at $19.15 on the same day. Chief Financial Officer Kelvin Moses also purchased 937 shares at $15.46. President and CEO Scott Brinker sold 114 shares at $19.15.
Analysts Set New Price Targets
On June 11, 2026, Morgan Stanley downgraded Healthpeak Properties to a hold rating with a $22 price target. Previously, on June 1, Wells Fargo maintained a hold rating with a $20 target. Scotiabank also maintained a hold rating on May 27 with a $21 target. The consensus among 18 analysts is a buy recommendation, with a mean price target of approximately $21.06.
About Healthpeak Properties, Inc.
Healthpeak Properties, Inc. is a real estate investment trust (REIT) specializing in healthcare properties across the United States. Headquartered in Denver, Colorado, the company focuses on owning and developing medical offices, labs, and senior living facilities. Led by CEO Scott M. Brinker, Healthpeak has a diverse portfolio of 703 properties, including outpatient medical buildings, lab spaces, and continuing care retirement communities.
Bottom Line
Morgan Stanley's recent downgrade of Healthpeak Properties to a hold rating with a $22 target reflects cautious sentiment. Investors will be watching upcoming earnings and insider activity for further insights. As always, remember that these analyst ratings are based on past data and may not reflect current conditions.
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