Healthpeak Properties (DOC) Q2 2026 Earnings
How Did DOC Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +0.05%.
Did DOC Beat Earnings? Q2 2026 Results
Yes. Healthpeak Properties reported Q2 2026 earnings of $0.08 a share on Aug 4, 2026, beating the $0.03 consensus estimate by 198.5%. Revenue was $771.6M against a $725.2M estimate.
Healthpeak Properties delivered a decisive beat in the second quarter of 2026, reporting GAAP diluted EPS of $0.08 against a consensus estimate of $0.03, a 198.51% positive surprise, while revenue of $771.58 million topped expectations by 6.40% and rose 11.1% year over year from $694.35 million. The most material driver behind the quarter's strength was the rapid expansion of the Senior Housing segment, now operated through majority-owned subsidiary Janus Living, which posted $216.00 million in revenue, up 45% year over year, with same-store Adjusted NOI growing 19.2%. A marquee joint venture with Brookfield affiliates, valuing an 86-asset outpatient medical portfolio at roughly $2.10 billion, generated approximately $1.02 billion in proceeds that helped repay $650.00 million of senior notes and shore up liquidity to $3.40 billion. The positive momentum in senior housing broadly mirrors trends seen across the healthcare real estate sector. Management raised full-year 2026 FFO as Adjusted guidance to $1.73 to $1.77 per share, reflecting continued confidence in the portfolio's trajectory.
- Senior Housing revenue and Adjusted EBITDAre growth of 45% and 34% YoY respectively via Janus Living
- Same-store Adjusted NOI growth of 19.2% in Senior Housing, 2.5% in Outpatient Medical
- Outpatient Medical occupancy increased 20 bps sequentially to 90.7%
- Lab occupancy increased 80 bps sequentially to 78.5%
- 1.6 million square feet of Outpatient Medical and Lab leases executed in Q2
- $400 million seller financing loan partial repayment generating $9 million one-time interest income increase
- Same-store Senior Housing RevPOR per month increased to $8,589 from $8,169 YoY
What Is Healthpeak Properties's Outlook?
Healthpeak raised full-year 2026 guidance: diluted EPS of $0.48–$0.52 (midpoint increase of $0.02), diluted FFO as Adjusted per share of $1.73–$1.77 (midpoint increase of $0.02), and total same-store cash (adjusted) NOI growth of 0%–1.5% (75 bps midpoint increase). The company has $3.4 billion of liquidity as of August 3, 2026, and continues to pursue capital recycling through JV recapitalizations and dispositions to fund growth and strengthen the balance sheet.
DOC YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $771.6M | $694.4M | +11.1% |
| Operating Income | $32.6M | $131.5M | −75.2% |
| Net Income | $63.2M | $31.7M | +99.7% |
DOC Revenue by Segment
When Does Healthpeak Properties Report Next?
Figures from SEC filings and company reports. Not investment advice.