2024-04-12 07:00:00 ET
Summary
- Healthpeak Properties recently closed on its merger with Physicians Realty Trust, which is expected to generate merger-related synergies and be accretive to AFFO.
- The company reported strong earnings with solid growth in same-store NOI and AFFO.
- Healthpeak Properties has a strong balance sheet and attractive valuation below peers and the sector median, offering dividend investors a good buying opportunity.
- Due to the recent merger, I expect the REIT to get back to dividend growth in the near future.
- The share price may continue to experience volatility due to shrinking sentiment surrounding interest rate cuts in June.
Introduction
Healthcare REITs have held strong, more so than their retail peers over the past year. Those like CareTrust REIT ( CTRE ), Omega Healthcare Investors ( OHI ), and Sabra Health Care REIT ( SBRA ) are all in the green. But there is one REIT in the healthcare sector, Healthpeak Properties ( DOC ) whose share price decline double-digits over the same period....
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Healthpeak Properties: A Quality Healthcare REIT That Should Get Back To Dividend Growth