Healthpeak Properties (DOC) AI Stock Analysis

• Market Cap: $12.45B
• Dividend Yield: 5.8%
• Average Volume (3M): 9.32M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.57
• Revenue Growth: 9.58%
• EPS Growth: -111.99%
• Country: US
• Employees: 387
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Healthcare Facilities
• EPS (TTM): -0.17
• Shares Outstanding: 694,949,800
• 10 Day Avg. Volume: 8,758,752
• 30 Day Avg. Volume: 9,323,332
• PEG Ratio: -1.58
• Price to Book (P/B): 1.63
• Price to Sales (P/S): 5.07
• P/FCF Ratio: 12.79
• Enterprise Value/Market Cap: 1.87
• Enterprise Value/Revenue: 7.58
• Enterprise Value/Gross Profit: 11.92
• Enterprise Value/Ebitda: 14.88
• 1Y Price Target: $19.91
• Price Target Upside: 11.42% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 12
• EPS Forecast (FY): 0.16
• Revenue Forecast (FY): $2.75B

• Rating: 63 Neutral
• Price Target: $19.00 ▲(6.32% Upside)

Healthpeak Properties' overall stock score reflects a solid financial performance with strong cash flow generation and revenue growth. The earnings call provided a cautiously optimistic outlook with strategic investments in focus. However, technical indicators suggest a neutral to slightly bearish trend, and the valuation is mixed with a negative P/E ratio but a high dividend yield. The most significant factors are the company's financial stability and strategic growth initiatives, tempered by technical and valuation concerns.

Positive Factors

Revenue Growth

Exceeding revenue expectations indicates strong demand for Healthpeak's properties, supporting long-term growth and stability in rental income.

Cash Flow Generation

Strong cash flow growth enhances Healthpeak's ability to reinvest in property development, cover dividends, and maintain financial health.

Outpatient Medical Sector Growth

Growth in the outpatient medical sector strengthens Healthpeak's market position, driving occupancy and rental income in a key segment.

Negative Factors

Life Science Occupancy Decline

Declining occupancy in life science facilities can reduce rental income and impact overall profitability, posing a risk to future growth.

Impairment on Lab Joint Venture

Impairment charges reflect reduced asset values, potentially affecting Healthpeak's balance sheet and limiting investment capacity.

Profitability Margins

Decreasing net profit margins highlight pressure on profitability, which could hinder Healthpeak's ability to sustain earnings growth.

Healthpeak Properties Business Overview & Revenue Model

Company Description

Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates, and develops high-quality real estate for healthcare discovery and delivery.

How the Company Makes Money

Healthpeak Properties generates revenue primarily through rental income from its diverse portfolio of healthcare-related properties. The company leases its properties to various healthcare operators and service providers, benefiting from long-term leases that often include rent escalations over time. Key revenue streams include senior housing operations, where Healthpeak collects rental payments from residents; life science facilities, where tenants are typically biotech and pharmaceutical companies; and medical office buildings leased to healthcare providers. Additionally, Healthpeak may engage in property development and redevelopment projects, which can enhance its asset value and yield further income. Significant partnerships with leading healthcare operators and institutions also contribute to the company's stable revenue base and growth potential.

Healthpeak Properties Financial Statement Overview

Summary

Healthpeak Properties exhibits a solid financial position with strong revenue growth and efficient cash flow generation, despite some pressure on profitability margins. The balance sheet reveals moderate leverage, which is manageable but requires monitoring. Overall, the company is well-positioned in its industry, though attention to profitability improvement would benefit future performance.

Income Statement

Healthpeak Properties has shown consistent revenue growth with a TTM (Trailing-Twelve-Months) increase of 3.53% over the previous year, indicating a positive growth trajectory. Gross profit margin stands at 60.4%, showcasing strong operational efficiency. However, the net profit margin has decreased to 5.9% in the TTM, highlighting reduced profitability. The EBIT margin is at a healthy 18%, but the decline in net income suggests some margin pressure.

Balance Sheet

The company's debt-to-equity ratio is 1.18, indicating moderate leverage, which is typical in the REIT industry. The return on equity is relatively low at 2.1% in the TTM, reflecting limited profitability on equity. The equity ratio of 40% indicates a balanced capital structure, but the reliance on debt could pose potential risks in changing interest rate environments.

Cash Flow

Free cash flow has shown a robust growth of 16.26% in the TTM, demonstrating strong cash generation capabilities. The operating cash flow to net income ratio is high at 7.5, indicating efficient cash conversion. The company maintains a solid free cash flow to net income ratio, supporting its ability to cover dividends and reinvest in growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.07B	2.70B	2.18B	2.06B	1.90B	1.64B
Gross Profit	1.95B	1.63B	1.28B	1.20B	1.12B	862.33M
EBITDA	1.56B	1.61B	1.27B	1.39B	970.63M	1.13B
Net Income	-38.21M	243.14M	306.01M	500.45M	505.54M	413.56M
Balance Sheet
Total Assets	19.58B	19.94B	15.70B	5.10B	5.18B	4.41B
Cash, Cash Equivalents and Short-Term Investments	91.04M	119.82M	138.99M	126.83M	158.29M	44.23M
Total Debt	9.59B	9.02B	7.08B	6.71B	6.37B	6.48B
Total Liabilities	11.32B	10.88B	8.77B	2.10B	2.19B	1.67B
Stockholders Equity	7.60B	8.40B	6.35B	6.65B	6.52B	6.73B
Cash Flow
Free Cash Flow	926.45M	1.07B	956.24M	900.26M	795.25M	758.43M
Operating Cash Flow	926.45M	1.07B	956.24M	900.26M	795.25M	758.43M
Investing Cash Flow	-674.75M	-113.80M	-576.75M	-876.34M	531.03M	-1.01B
Financing Cash Flow	-330.46M	-941.42M	-337.30M	-116.53M	-1.29B	246.45M

Healthpeak Properties Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 17.87
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DOC, the sentiment is Negative. The current price of 17.87 is below the 20-day moving average (MA) of 18.20, below the 50-day MA of 18.28, and below the 200-day MA of 18.02, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 44.96 is Neutral, neither overbought nor oversold. The STOCH value of 15.90 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DOC.

Healthpeak Properties Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OHI	76 Outperform	$12.70B	24.15	11.28%	6.24%	13.50%	31.56%
NHI	75 Outperform	$3.56B	23.93	10.49%	4.75%	6.87%	7.23%
SBRA	74 Outperform	$4.31B	23.65	6.66%	6.59%	6.89%	240.70%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
DOC	63 Neutral	$12.45B	―	-0.48%	5.80%	9.58%	-111.99%
HR	57 Neutral	$6.19B	―	-7.26%	6.59%	-6.59%	33.35%
MPW	54 Neutral	$2.96B	―	-14.02%	6.57%	45.56%	73.44%

Healthpeak Properties Corporate Events

Healthpeak Properties, Inc. Earnings Call Insights

During the recent earnings call, Healthpeak Properties, Inc. presented a mixed sentiment, highlighting both positive achievements and notable challenges. The company reported strong performance in its outpatient medical and Continuing Care Retirement Community (CCRC) segments, alongside advancements in technology efficiency and a robust balance sheet. However, the life sciences segment faced challenges, including occupancy declines and impairment charges, which were significant lowlights.

Healthpeak Properties Reports Strong Q3 Leasing Activity

On October 23, 2025, Healthpeak Properties announced its third quarter results, highlighting strategic initiatives and financial performance. The company reported strong leasing activity in outpatient medical and lab sectors, with significant cash re-leasing spreads and occupancy gains. Healthpeak is negotiating sales and recapitalizations to strengthen its balance sheet and invest in new developments. The merger with Physicians Realty Trust has been beneficial, and the company is optimistic about the biopharma sector’s recovery. Financially, Healthpeak reported a net loss per share but showed growth in other financial metrics and maintained a strong balance sheet with ample liquidity.

The most recent analyst rating on (DOC) stock is a Hold with a $20.50 price target. To see the full list of analyst forecasts on Healthpeak Properties stock, see the DOC Stock Forecast page.

Healthpeak Properties Completes $500 Million Senior Notes Offering

On August 14, 2025, Healthpeak OP, LLC, a subsidiary of Healthpeak Properties, completed a $500 million offering of 4.750% senior notes due 2033. The net proceeds, estimated at $491.4 million, are intended for repaying borrowings and general corporate purposes, potentially impacting the company’s financial flexibility and strategic initiatives.

The most recent analyst rating on (DOC) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Healthpeak Properties stock, see the DOC Stock Forecast page.

Healthpeak Properties Announces $500M Senior Notes Offering

On August 5, 2025, Healthpeak Properties, Inc. announced that its operating company, Healthpeak OP, LLC, entered into an underwriting agreement for a public offering of $500 million in senior unsecured notes due 2033. The net proceeds, estimated at approximately $491.4 million, will be used to repay borrowings under its commercial paper program and for general corporate purposes, including potential acquisitions and capital expenditures. The offering is expected to close on August 14, 2025, and involves several underwriters, with the notes being fully guaranteed by Healthpeak and its affiliates.

The most recent analyst rating on (DOC) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Healthpeak Properties stock, see the DOC Stock Forecast page.

Healthpeak Properties Updates Tax Considerations in SEC Filing

On February 5, 2025, Healthpeak Properties filed a Post-Effective Amendment to a Registration Statement with the SEC, updating the discussion on U.S. federal income tax considerations related to its REIT status and securities offerings. This amendment replaces previous tax considerations and highlights the complexities and potential changes in tax laws affecting REIT qualifications and operations, which could impact Healthpeak’s tax obligations and investor returns.

The most recent analyst rating on (DOC) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Healthpeak Properties stock, see the DOC Stock Forecast page.