REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Total revenue rose 11% YoY to $771.6M in Q2 FY2026, driven by a 45% jump in senior housing revenue from the SWF JV Buyout consolidation and Janus Living's IPO, while lab same-store occupancy fell to 90.5%.
Biggest Revenue Drivers
Outpatient medical$310.7M-1% YoY
Decreased Adjusted NOI from 2025 and 2026 dispositions, partially offset by increased occupancy in former development properties placed in service.
Senior housing$216.5M+45% YoY
Driven by the SWF JV Buyout consolidation, other 2026 acquisitions, increased occupancy, and higher resident fee rates.
Biggest Revenue Drivers
Total revenue: $771.6M+11% YoY
Outpatient medical$310.7M-1% YoY
Decreased Adjusted NOI from 2025 and 2026 dispositions, partially offset by increased occupancy in former development properties placed in service.
Senior housing$216.5M+45% YoY
Driven by the SWF JV Buyout consolidation, other 2026 acquisitions, increased occupancy, and higher resident fee rates.
Lab$216.1M+3% YoY
Increased Adjusted NOI from 2025 acquisitions, partially offset by lower same-store occupancy and higher operating expenses.
Largest Expense Items
Operating$333.1M+21% YoY
Higher property-level operating expenses, including consolidation of the SWF SH JV senior housing communities.
Depreciation and amortization$283.4M+7% YoY
Acquisitions of real estate in 2025 and 2026, including the SWF JV Buyout, and development/redevelopment projects placed in service.
Interest expense$92.3M+23% YoY
Issuance of $500M of 4.75% senior unsecured notes due 2033 and higher commercial paper borrowings, partly offset by 2025 note repayments.
General and administrative$22.5M+8% YoY
Lower stock-based compensation forfeitures in the prior-year quarter and incremental stand-alone public company costs for Janus Living.
Margins: Outpatient medical ($198.0M) and lab ($142.6M) Adjusted NOI were roughly flat YoY, while senior housing Adjusted NOI grew to $45.9M from $42.5M; overall margin was pressured by higher interest expense and G&A but offset by gains on real estate sales and IPO-related interest income.
Watch Items from the Filing
Senior housing revenue surged 45% YoY, driven mainly by the SWF JV Buyout consolidation and other 2026 acquisitions rather than organic same-store growth.
Lab segment same-store average occupancy fell from 95.8% to 90.5% and same-store Adjusted NOI declined 3.2% YoY.
Following the Janus Living IPO and follow-on offering, public investors now hold a 26.4% noncontrolling interest in the senior housing subsidiary, diluting Healthpeak's economic share.
$650 million of 3.25% senior unsecured notes matured and were repaid in July 2026.
A one percentage point increase in interest rates would decrease the fair value of the company's fixed rate debt by approximately $236 million.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
10 transactions in DOC reported by 5 members of Congress under the STOCK Act, most recent trade Feb 10, 2026. Reported transactions, not recommendations.
About HEALTHPEAK PROPERTIES, INC. (DOC): stock profile, AI score and financials
HEALTHPEAK PROPERTIES, INC. (DOC) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores DOC at 67.4/100 on a composite quality score built from its SEC filings, placing it at rank #19 of 148 stocks — the top 25% of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), HEALTHPEAK PROPERTIES, INC. reports quarterly revenue of $771.6M, net income of $52.8M, an operating margin of 7.7%. Top institutional holders of DOC by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. DOC trades on the NYSE exchange and files with the SEC under CIK 765880. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate DOC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for HEALTHPEAK PROPERTIES, INC. directly from SEC EDGAR.