Healthpeak Properties (PEAK) is Free to Begin Strategic Reinvesting - Jefferies

Jefferies analyst Jonathan Petersen reiterated a Hold rating and $29.00 price target on Healthpeak Properties (NYSE: PEAK) after 1Q21 normalized FFO/sh came in at $0.40, ahead of the Street estimates of $0.39.

The analyst stated "PEAK has exited its senior housing business with $3.5B of dispositions closed and $0.4B under purchase and sale agreements. PEAK can now focus on strategically reinvesting these proceeds into its three core segments: Life Science, Medical Office, and CCRC. Given the pricing pressure for existing Life Science assets, we expect PEAK to utilize its land bank and focus on densification opportunities. This is evidenced by the recently announced $159M Nexus development (141k sf) and its $135M Callan Ridge densification (185k sf, was 90k sf)."

For an analyst ratings summary and ratings history on Healthpeak Properties click here. For more ratings news on Healthpeak Properties click here.

Shares of Healthpeak Properties closed at $33.25 yesterday.

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