DENVER--(BUSINESS WIRE)--Healthpeak Properties, Inc. (NYSE: DOC) today announced that Janus Living, Inc., a pure-play senior housing real estate investment trust ("REIT†), has publicly filed a registration statement on Form S-11 with the Securities and Exchange Commission (the "SEC†) relating to a proposed initial public offering of its shares of Class A-1 common stock. The offering is subject to market conditions, receipt of regulatory approvals, completion of related financings, completion of the SEC' ...

Investing in real estate is one of the many ways to generate passive income. Among the most passive real estate investments is buying shares of a real estate investment trust (REIT). A few top REITs pay monthly dividends, enabling you to generate recurring cash flow to help cover your routine expenses. Here's how much you'd need to invest in three top monthly dividend stocks to produce over $250 of passive dividend income each month: Where to invest $1,000 right now? Our analyst team just revealed what t ...

Core Insights - The article discusses the potential rebound of Real Estate Investment Trusts (REITs) in 2026, driven by declining interest rates and a shift in market dynamics [4][25] - Seven REITs are highlighted, with five considered stable investments and two categorized as higher-risk opportunities with significant upside potential [2][24] REIT Overview - Realty Income (NYSE: O) is noted for its stability, owning over 15,500 properties and collecting rent from approximately 1,600 customers across 92 industries, including well-known brands like 7-Eleven and Walgreens [1] - The REIT sector faced challenges in 2025 due to rising interest rates, which negatively impacted leverage and capital access [5] Performance Metrics - Certain property sectors have shown strong year-to-date performance, with farmland REITs up about 24%, data centers around 22%, net lease at approximately 15%, and self-storage at about 14% [3] - Realty Income has maintained an A credit rating and has increased its dividend for 27 consecutive years, making it a Dividend Aristocrat [6] Selected REITs - **Equinix (NASDAQ: EQIX)**: Operates 273 data centers globally, emphasizing the importance of its network ecosystem for competitive advantage. The company recently increased its dividend by 10% [8] - **Public Storage (NYSE: PSA)**: The leader in self-storage with around 3,500 U.S. facilities, leveraging technology for pricing optimization. The company has an A-rated credit and a dividend yield of about 4% [10][11] - **Equity LifeStyle Properties (NYSE: ELS)**: Focuses on manufactured housing and RV resorts, benefiting from demographic trends as baby boomers retire. The company raised its dividend by 5.3% recently [12][14] - **EastGroup Properties (NYSE: EGP)**: Targets flex distribution properties in fast-growing Sunbelt markets, with strong operational metrics and projected growth into 2027 and 2028 [15][16] - **Americold Realty Trust (NYSE: COLD)**: A cold storage REIT facing challenges but with potential for turnaround under new management and strategic changes. Shares trade at about 8.9x AFFO with a dividend yield of approximately 6.65% [17][19] - **Healthpeak Properties (NYSE: DOC)**: Plans to spin off its senior housing assets into a new REIT, which could unlock value. The company has a mixed portfolio and faces occupancy pressures in life sciences [20][22] Market Outlook - The article suggests that as interest rates decline, REITs may experience a resurgence, with investors encouraged to position themselves early to avoid higher valuations later [23][25]

The last time I covered Healthpeak Properties ( DOC ), I highlighted their attractive and sustainable monthly dividend yield while the REIT was navigating the uncertainty and weakness seen in their lab segment, whileI've been researching companies in-depth for over a decade, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many emerging market stocks, which I believe could help me provide useful content for readers. After writing my own blog for about 3 years, I decid ...

Core Viewpoint - The January non-farm payrolls report revealed 130,000 new jobs and a drop in unemployment to 4.3%, leading to a reduction in expected Federal Reserve rate cuts for the year, making ultra-high-yield dividend stocks more attractive for income-focused investors [1][2]. Group 1: Economic Indicators - The non-farm payrolls report for January showed a surprising addition of 130,000 jobs, significantly exceeding Wall Street's expectations of 70,000-80,000 [1]. - Unemployment decreased to 4.3%, indicating a robust job market [1]. Group 2: Federal Reserve Rate Cuts - Predictions for 2.5 rate cuts this year were reduced to 2 following the jobs report, with potential for no cuts until summer if the upcoming consumer price index is below expectations [1]. - The expectation of prolonged higher interest rates diminishes the likelihood of rate cuts, making high-yield dividend stocks more appealing [1]. Group 3: Investment Opportunities - Ultra-high-yield stocks, offering dividends between 7% and 10%, are highlighted as attractive options for investors seeking passive income in a high-rate environment [1]. - Ares Capital Corporation, yielding 9.94%, specializes in financing solutions for middle-market companies and has received a Buy rating from 12 analysts [1][2]. - Energy Transfer, with a 7.16% distribution yield, operates a vast network of energy assets across the U.S. and has an Overweight rating from JPMorgan with a $21 target price [2]. - Healthpeak Properties, a REIT focused on healthcare real estate, offers a 7.24% dividend and has an Outperform rating with a $20 target price [2]. - Plains All American Pipeline, yielding 7.68%, operates midstream energy infrastructure and is poised for a breakout, with a Buy rating and a $25 target price from UBS [2]. - Starwood Property Trust, with a 10.60% dividend yield, operates in various segments including commercial and residential lending, and has an Outperform rating with a $21 target [2].

Core Insights - The article emphasizes the attractiveness of ultra-high-yield dividend stocks, particularly in a market where interest rates are expected to remain high for an extended period, making dividend income more appealing compared to growth stocks [2][4][6]. Group 1: Market Environment - Expectations of rate cuts have diminished, leading to a shift in investor focus from growth stocks to dividend-paying stocks as a strategy to generate income [2][6]. - The income gap between high-dividend stocks and Treasury yields is highlighted, with a 9% dividend stock providing a 4% premium over a 5% Treasury yield, making it more attractive for income-focused investors [3][4]. Group 2: Investment Opportunities - A selection of ultra-high-yield dividend stocks yielding between 7% and 10% has been identified, all rated Buy by top Wall Street firms [1]. - Ares Capital Corporation offers a 9.94% dividend yield and specializes in financing solutions for middle-market companies, making it a strong candidate for income-focused investors [9][12]. - Energy Transfer, with a 7.16% distribution yield, is noted for its diversified midstream energy assets across the U.S., appealing to those seeking energy exposure [13][15]. - Healthpeak Properties, a REIT focused on healthcare real estate, provides a solid 7.24% dividend, making it attractive for income generation [16][19]. - Plains All American Pipeline offers a dependable 7.68% dividend yield and operates midstream energy infrastructure, positioning it well for potential growth [21][24]. - Starwood Property Trust boasts a 10.60% dividend yield and operates in various segments, including commercial and residential lending, making it a notable investment option [25][28].

Core Viewpoint - Goldman Sachs initiated coverage of Healthpeak Properties Inc. with a Neutral rating and a price target of $17, highlighting improving occupancy and cash flow visibility in senior housing investments [1] Group 1: Company Overview - Healthpeak Properties Inc. operates as a fully integrated healthcare REIT, focusing on acquiring, developing, owning, leasing, and managing healthcare real estate across the United States [4] Group 2: Recent Developments - Healthpeak's portfolio has significantly changed since 2019, particularly due to the merger with Physicians Realty Trust, which closed on March 1, 2024, effectively doubling the size of its outpatient medical portfolio [2] - On January 7, Healthpeak announced plans to form and take public Janus Living, Inc., a new REIT focused entirely on senior housing, contributing its 34-community, 10,422-unit senior housing portfolio to Janus Living [3]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported FFO as adjusted of $0.47 per share and AFFO of $0.40 per share, with total same-store cash NOI growth of 3.9% [15][16] - For the full year 2025, FFO as adjusted was $1.84 per share and AFFO was $1.69 per share, with total same-store cash NOI growth of 4% [16] - The company ended the year with a net debt to adjusted EBITDA ratio of 5.2x and $2.4 billion in liquidity [18] Business Line Data and Key Metrics Changes - Outpatient medical segment represented over 50% of portfolio income, achieving same-store growth of 3.9% and 91% total occupancy [4][16] - The lab segment ended the year with 1.5% same-store growth and total occupancy of 77%, impacted by the recent Gateway acquisition [17] - Senior housing segment reported 12.6% same-store growth, with 16.7% growth in Q4, driven by favorable supply and demand fundamentals [18] Market Data and Key Metrics Changes - The Bay Area led all life science markets in Q4 2025 in absorption and leasing activity, with significant tenant demand [8] - The outpatient sector is benefiting from a shift in care delivery to lower-cost outpatient settings, supported by policy changes from CMS [5] Company Strategy and Development Direction - The company is focused on strengthening its portfolio through strategic acquisitions, including the Gateway acquisition and the formation of a pure-play senior housing REIT, Janus Living [10][21] - The merger with Physicians Realty Trust has created a strong platform in the outpatient sector, allowing for profitable internalization of property management [4][5] - The company plans to recycle capital through $1 billion or more in asset sales and recapitalizations in 2026 [21] Management's Comments on Operating Environment and Future Outlook - Management noted an improvement in capital raising and M&A activity, indicating early signs of a recovery in the life science sector [6][20] - The company expects FFOs adjusted to range from $1.70 to $1.74 per share for 2026, with same-store NOI growth forecasted between -1% to +1% [19] - Management emphasized the importance of maintaining a strong balance sheet and disciplined capital allocation to pursue strategic investments [19] Other Important Information - The company has $360 million of additional relationship-driven acquisitions in its senior housing pipeline, expected to close in Q1 2026 [13] - The company filed a confidential S-11 with the SEC for the Janus Living IPO, with expectations to close the offering in the first half of 2026 [14] Q&A Session Summary Question: Can you discuss the Gateway acquisition and its complement to the existing portfolio? - Management expressed excitement about the Gateway acquisition, viewing it as an opportunity rather than a concern about vacancy, and highlighted the strategic fit within their existing footprint [25][26] Question: What is the expected cadence of lab occupancy throughout the year? - Management indicated that total occupancy should improve by year-end 2026, contingent on continued positive trends in capital markets [30] Question: Can you provide more details on the lab leasing activity? - Management noted that the pipeline is strong, with a shift towards new leasing, and emphasized the importance of the current market conditions [36] Question: How will the lab occupancy losses impact 2026 FFO? - Management clarified that the impact is a combination of various factors, including occupancy losses and higher refinancing costs, with expectations for gradual recovery [41][42] Question: What is the strategy regarding refinancing activity? - Management stated that they will be opportunistic in accessing the market for refinancing, focusing on maturities ahead of them [58]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported FFO as adjusted of $0.47 per share and AFFO of $0.40 per share, with total same-store cash NOI growth of 3.9% [15] - For the full year 2025, FFO as adjusted was $1.84 per share and AFFO was $1.69 per share, with total same-store cash NOI growth of 4% [16] - The company ended the year with a net debt to Adjusted EBITDA ratio of 5.2x and $2.4 billion in liquidity [19] Business Line Data and Key Metrics Changes - Outpatient Medical segment represented over 50% of portfolio income, achieving same-store growth of 3.9% and 91% total occupancy [4][16] - The lab segment ended the year with 1.5% same-store growth and total occupancy of 77%, impacted by the Gateway acquisition [17] - Senior Housing segment reported 12.6% same-store growth, significantly above guidance, with 16.7% growth in Q4 [18] Market Data and Key Metrics Changes - The Bay Area led all Life Science markets in Q4 2025 in absorption and leasing activity, with the largest volume of current tenant demand [8] - The private market is recognizing the favorable operating environment, driving down cap rates [5] Company Strategy and Development Direction - The merger with Physicians Realty Trust has created a strong platform in the Outpatient sector, allowing for profitable internalization of property management [4] - The company is focusing on strategic acquisitions, including a 1.4 million sq ft campus in South San Francisco, to capitalize on recovery in the sector [8] - Plans to create a pure-play Senior Housing REIT through the Janus Living IPO, contributing the entire Senior Housing portfolio to capture value [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted an inflection point in the Life Science sector, with signs of recovery in capital raising and M&A activity [6] - The company expects FFOs adjusted to range from $1.70-$1.74 per share for 2026, with same-store NOI growth forecasted between -1% to +1% [19] - Management expressed optimism about improving occupancy in the lab segment, contingent on favorable capital market conditions [30] Other Important Information - The company has completed $464 million in acquisitions so far in 2026, including a $314 million buyout of a joint venture partner in the Senior Housing portfolio [21] - The company plans to execute a capital recycling plan of $1 billion or more in asset sales and recapitalizations in 2026 [21] Q&A Session Summary Question: Can you discuss the Gateway acquisition and its complement to the existing portfolio? - Management expressed excitement about the Gateway acquisition, viewing it as an opportunity rather than a vacancy issue, and highlighted the strategic fit within their existing footprint [25][26] Question: What is the expected cadence of lab occupancy throughout the year? - Management indicated that total occupancy should improve by year-end 2026, depending on continued positive trends in capital markets [30] Question: Can you provide more details on the lab leasing activity? - Management noted that the pipeline is strong, with a mix of new leasing and renewals, and emphasized a significant improvement compared to the previous year [36] Question: What is the impact of lab occupancy losses on 2026 FFO? - Management clarified that the $0.12 impact on earnings is due to various factors, including occupancy losses and higher refinancing costs [41] Question: How are negotiations for 2026 expirations progressing? - Management reported that a substantial majority of expirations are in South San Francisco, where they have strong tenant relationships, and they are optimistic about renewals [61]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported FFO as adjusted of $0.47 per share and AFFO of $0.40 per share, with total same-store cash NOI growth of 3.9% [15] - For the full year 2025, FFO as adjusted was $1.84 per share and AFFO was $1.69 per share, with total same-store cash NOI growth of 4% [16] - The company ended the year with a net debt to adjusted EBITDA ratio of 5.2x and $2.4 billion in liquidity [19] Business Line Data and Key Metrics Changes - Outpatient medical segment represented over 50% of portfolio income, achieving 3.9% same-store growth and 91% total occupancy [3][16] - The lab segment ended the year with 1.5% same-store growth and total occupancy of 77%, impacted by the recent Gateway acquisition [17] - Senior housing segment reported 12.6% same-store growth, with 16.7% growth in Q4, driven by favorable supply and demand fundamentals [18] Market Data and Key Metrics Changes - The outpatient sector is benefiting from a shift in care delivery to lower-cost outpatient settings, supported by policy changes from CMS [4] - The Bay Area led all life science markets in Q4 2025 in absorption and leasing activity, with significant tenant demand [8] Company Strategy and Development Direction - The company is focused on strengthening its portfolio through strategic acquisitions, including the Gateway acquisition and the formation of a pure-play senior housing REIT, Janus Living [10][11] - The company plans to recycle capital through $1 billion or more in asset sales and recapitalizations in 2026 [21] - The company aims to leverage its strong market position and relationships to capture demand as the life science sector recovers [6] Management's Comments on Operating Environment and Future Outlook - Management noted an improvement in capital raising and M&A activity, indicating early signs of a recovery in the life science sector [5] - The company expects FFOs adjusted to range from $1.70 to $1.74 per share for 2026, with total same-store NOI growth forecasted between -1% to +1% [19] - Management highlighted the importance of maintaining a strong balance sheet and disciplined capital allocation to pursue strategic investments [19] Other Important Information - The company has $360 million of additional relationship-driven acquisitions in its senior housing pipeline, expected to close in Q1 2026 [12] - The company filed a confidential S-11 with the SEC for the Janus Living IPO, with expectations to close the offering in the first half of 2026 [13] Q&A Session Summary Question: Can you discuss the Gateway acquisition and its complement to the existing portfolio? - Management expressed excitement about the Gateway acquisition, viewing it as an opportunity rather than just taking on vacancy, and highlighted the strategic fit within their existing footprint [25][26] Question: What is the outlook for lab segment occupancy throughout the year? - Management indicated that total occupancy should improve by year-end 2026, contingent on continued positive trends in capital markets [28][30] Question: Can you provide details on the lab leasing activity under execution or LOI? - Management noted that the current pipeline is significantly improved compared to the previous year, with a shift towards new leasing [34][35] Question: What is the impact of lab occupancy losses on 2026 FFO? - Management clarified that the $0.12 impact on earnings is due to various factors, including occupancy losses and higher refinancing costs [41][42] Question: How is the company addressing the 2026 expirations for life science? - Management stated that a substantial majority of expirations are in South San Francisco, where they have strong tenant relationships, and they are optimistic about capturing renewals [61][62]