-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下：DOC公布了2026年第一季度业绩，其中营收同比增长7.1%至7.53亿美元，租赁收入为7.39亿美元（+7.5%），超出市场预期4600万美元；尽管每股FFO从0.46美元降至0.45美元，但仍超出预期0.02美元。Janus Living成功上市，募集资金8.8亿美元，打造了一个市值达69亿美元的养老地产平台，验证了管理层的价值释放策略，而DOC仍持有81.6%的股份。更新后的2026年业绩指引反映了IPO的影响，每股收益上调至0.46-0.50美元，而由于管理费收入减少，FFO下调至1.68-1.72美元。同店净营业收入持平，老年住宅业务的强劲增长（+13.8%）被实验室业务的疲软表现（-7.2%）所抵消。入住率持续承压，实验室业务同比下降740个基点至90.4%，门诊医疗业务下降70个基点至91.8%。DOC回购了1亿美元的股票。我们认为门诊医疗业务的入住率将会改善，但预计实验室业务的空置率将在2026年第三季度之前持续上升。我们认为，生物技术业务持续面临的融资挑战将限制实验室业务在2027年上半年的增长空间。
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