As previously reported, Scotiabank downgraded Healthpeak Properties (DOC) to Sector Perform from Outperform with a price target of $19, down from $21. With no lab leasing progress at the company’s Vantage, Gateway/Directors, and Portside campuses in South San Francisco and San Diego, the firm now sees a slower (re)development NOI commencement pace and now forecasts 1% growth and a 1% decline in FFOPS/AFFOPS in 2026 and 2027, respectively.
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