PEAK - A Mega Acquisition Makes This 7.7%-Yielding Dividend Stock Even Healthier
2023-10-31 07:40:00 ET
Healthpeak Properties (NYSE: PEAK) and Physicians Realty Trust (NYSE: DOC) have agreed to an all-stock merger-of-equals transaction valuing the combined company at $21 billion. The deal will create a much larger-scale real estate investment trust (REIT) focused on the healthcare sector.
The accretive deal will enhance the combined company's income, portfolio, and growth prospects while preserving its balance sheet strength. That makes its high-yielding dividend (currently yielding 7.7%) even healthier.
Healthpeak Properties and Physicians Realty Trust are merging to create a leading healthcare REIT . The combined company will own over 750 properties with 52 million square feet of space dedicated to healthcare discovery and delivery. It will have 12 million square feet of lab space and 40 million square feet of outpatient medical space. The REITs have leased this space to high-quality healthcare systems, physician groups, and biopharma companies.
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A Mega Acquisition Makes This 7.7%-Yielding Dividend Stock Even Healthier