Healthpeak Properties, Inc. (DOC)

NYSE: DOC · USD

$18.5

-0.48 (-2.5%)· Recorded snapshot

영어 원본으로 대체KO

번역하는 동안 영어 원본을 표시 중

이 리포트는 아직 번역되지 않았습니다. 번역 대기열이 따라잡으면 몇 분 후에 새로고침하세요.

StockMarketAgent Research · Analyzed 2026-09-20

Our latest published analysis: DOC rated Strong Buy

Healthpeak Properties, Inc.'s published Strong Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$30.0 / share

Potential value

$40.9 / share

Upside to FV

+47.5%

from $18.5

Moat

3.5/10

None

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$14.4B
Revenue (ttm)	2.9B
Net income (ttm)	242.7M
EPS (ttm)	$0.34
Shares out	702.5M
P/E (trailing)	53.8x
P/E (forward)	169.5x
Dividend	$1.22 (6.61%)
Volume	3,305,847
Beta	0.99

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 2.9B
Net income (ttm): 242.7M
EPS (ttm): $0.34
P/E (trailing): 53.8x
P/E (forward): 169.5x
Market cap: $14.4B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$471.3M	$494.9M	$527.4M	$568.5M	$604.0M	+6.4%
Gross profit	$1.12B	$1.20B	$1.28B	$1.63B	$634.5M	-13.3%
Operating income	$286.3M	$680.1M	$515.3M	$553.6M	$415.5M	+9.8%
Net income	$505.5M	$500.4M	$306.0M	$243.1M	$71.3M	-38.7%
EPS (diluted)	$0.93	$0.92	$0.56	$0.36	$0.10	-42.7%
EBITDA	$970.6M	$1.39B	$1.27B	$1.61B	$1.47B	+11.0%
R&D	$0	$0	$0	—	—	+41.4%
SG&A	$98.3M	$131.0M	$95.1M	$97.2M	$90.4M	-2.1%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AMT	American Tower Corporation	85.1B	25.8x	7.5x	7.8%	+4.0%	+0.7%	비중 축소
ARE	Alexandria Real Estate Equities Inc.	6.9B	—	2.4x	0.9%	+6.6%	-45.8%	보유
CCI	Crown Castle Inc.	37.4B	46.3x	9.1x	5.1%	-7.9%	-6.2%	매도
CPT	Camden Property Trust	10.3B	32.3x	6.6x	3.2%	+7.7%	-0.6%	매수
DLR	Digital Realty Trust, Inc.	68B	86.6x	10.0x	2.4%	+9.3%	+3.7%	매도
EQIX	Equinix Inc.	99.7B	65.0x	10.1x	5.6%	+11.2%	+21.2%	비중 축소

Base and Bull scenarios

Base60%

Price target

$29.98

+47.5% from spot

Defensive outpatient medical cash flows deliver steady collections, balancing lab leasing drag and debt service to yield $29.98 from $20.33.

Outpatient portfolio generates stable operating income with contracted escalators
Consolidated revenue expands toward consensus estimates in FY2027
Debt refinancing proceeds at prevailing borrowing yields without covenant disruption

Bull20%

Price target

$40.86

+101.0% from spot

Post-merger integration accelerates synergies, outpatient rent escalations exceed historical norms, and life science leasing spreads rebound, supporting $40.86.

Outpatient medical renewal spreads expand with health system demand
Life science market absorption turns positive and reduces tenant concessions
Asset sales provide capital to retire debt without equity dilution

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($29.98). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.5%	2.0%	2.5%	3.0%	3.5%
6.4%	$78.0	$78.3	$78.8	$79.4	$80.2
7.4%	$42.6	$42.8	$43.1	$43.5	$43.9
8.4%	$29.6	$29.8	$30.0	$30.2	$30.5
9.4%	$22.8	$23.0	$23.1	$23.3	$23.4
10.4%	$18.6	$18.7	$18.8	$18.9	$19.1

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E169.5

P25 n/aP50 n/aP75 n/a

Trailing P/E58.1

P25 n/aP50 n/aP75 n/a

ROE3

P25 n/aP50 n/aP75 n/a

ROIC2.5

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All DOC indicators

Market & fundamental data

Available fields

269

Groups with data

Currency

USD

Showing 269 of 269 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000765880
Company name	Healthpeak Properties, Inc.
Country	United States
Country code	US
CUSIP number	42250P103
Earnings date	2026-11-02
Earnings time	amc
Employees	411
Employees change	24
Employees growth	6.2%
Enterprise value	$21.7B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1985
In index	SP500
Industry	REIT - Healthcare Facilities
Is primary listing	Yes
Is SPAC	No
ISIN number	US42250P1030
Last 10-K release date	2026-02-03
Last earnings date	2026-08-04
Last refreshed	2026-10-28
Last stock split date	2004-03-02
Last stock split type	Forward
Market cap	$13B
Market cap category	Large-Cap
Next earnings date	2026-11-02
Options	Yes
Price	$18.54
Price currency	USD
Sector	Real Estate
SIC code	6798
Stock price date	2026-10-28
Symbol	DOC
U.S. state	Colorado
Website	https://www.healthpeak.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Average P/E ratio (10Y)	56.12x
Average P/E ratio (3Y)	63.68x
Average P/E ratio (5Y)	50.97x
Earnings yield	1.86%
EV/Earnings	89.01x
EV/EBIT	43.01x
EV/EBITDA	13.76x
EV/FCF	63.28x
EV/Sales	7.32x
FCF / EV yield	1.58%
FCF yield	2.64%
Forward EV/Sales	7.05x
Forward P/E	80.85x
Forward P/S	4.22x
Graham number	9.39281
Graham upside	-48.95%
Industry forward P/E	66.06x
Industry P/E	78.26x
Lynch fair value	$1.72
Lynch upside	-90.64%
P/(FCF - SBC) ratio	40.5x
P/(OCF - SBC) ratio	10.69x
P/B ratio	1.67x
P/E ratio	53.8x
P/FCF ratio	37.86x
P/OCF ratio	10.5x
P/S ratio	4.38x
PEG ratio	18.18x
Price / tangible book value	1.83x
Price/EBITDA ratio	8.23x
Sector forward P/E	29.99x
Sector P/E	40.99x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	17.03%
EBITDA margin	53.25%
Effective tax rate	1.32%
FCF margin	11.57%
Gross margin	57.65%
Operating margin	17.03%
Pretax margin	9.44%
Profit margin	8.25%
Profit per employee	$590,616
Profitable quarters	3
Profitable years	10
Revenue per employee	$7.2M
ROA	1.51%
ROA (5Y)	1.58%
ROCE	2.44%
ROE	3.04%
ROE (5Y)	3.65%
ROIC	2.5%
ROIC (5Y)	2.77%
SBC / revenue	0.75%
Tax / revenue	0.12%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	46.77%
EPS growth (Q)	68.18%
EPS growth (QoQ)	-72.57%
EPS growth 3Y	-29.32%
EPS growth 5Y	-18%
EPS growth quarters	2
EPS growth years	0
Net income growth	47.52%
Net income growth (Q)	66.76%
Net income growth (QoQ)	-72.78%
Net income growth 3Y	-22.9%
Net income growth 5Y	-13.51%
Net income growth quarters	3
Net income growth years	0
OCF growth	-1.09%
OCF growth (Q)	-0.66%
OCF growth (QoQ)	38.42%
OCF growth 10Y	-0.51%
OCF growth 3Y	10.1%
OCF growth 5Y	9.05%
Revenue growth	5.52%
Revenue growth (Q)	11.12%
Revenue growth (QoQ)	2.47%
Revenue growth 10Y	5.18%
Revenue growth 3Y	11.71%
Revenue growth 5Y	10.55%
Revenue growth quarters	4
Revenue growth years	7

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-889.6M
Depreciation and amortization	$1.1B
EBIT	$502.3M
EBITDA	$1.6B
EPS	$0.34
FCF per share	$0.49
Financing cash flow	$1.4B
Free cash flow	$341.4M
Free cash flow minus SBC	$319.2M
Funds from operations (FFO)	$1.3B
Gross profit	$1.7B
Income taxes	$3.7M
Investing cash flow	$-1.1B
Net cash flow	$1.6B
Net income	$242.7M
Operating cash flow minus SBC	$1.2B
Operating income	$502.3M
Revenue	$2.9B
Stock-based compensation	$22.2M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$11.38
Debt / EBITDA	6.47
Debt / equity	1.09
Debt / FCF	30.23
Goodwill	$68.5M
Interest coverage	1.49
Net cash (debt)	$-8.7B
Net cash / market cap	-67.14%
Net debt / EBITDA	5.53
Net debt / equity	0.91
Net debt / FCF	25.42
Piotroski F-Score	5
Property, plant and equipment	$17.3B
Shareholders' equity	$9.5B
Tangible book value	$7.1B
Tangible book value per share	$10.24
Total assets	$21.7B
Total cash	$1.6B
Total debt	$10.3B
Total liabilities	$12.2B
WACC	6.82%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.14
Current ratio	2.29
Net working capital	$512.7M
Quick ratio	1.93
Working capital	$1.4B

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.7%
Dividend growth	0%
Dividend growth (10Y)	-5.26%
Dividend growth (3Y)	0.55%
Dividend growth (5Y)	0.33%
Dividend growth years	1
Dividend payment date	2026-10-30
Dividend payment years	42
Dividend payout frequency	Monthly
Dividend per share	$1.22
Dividend yield	6.61%
Ex-dividend date	2026-11-13
FCF payout ratio	251.03%
Last dividend	$0.10
Payout ratio	354.02%
Shareholder yield	7.33%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	-46.07%
10Y return CAGR	0.13%
10Y total return	1.26%
150-day SMA	$19.73
15Y price change	-53.67%
15Y return CAGR	0.82%
15Y total return	13%
1D price change	-2.52%
1M price change	-9.5%
1M total return	-9.02%
1W price change	-2.03%
1W total return	-2.03%
1Y price change	-3.57%
1Y return CAGR	3.01%
1Y total return	3.01%
20-day SMA	$18.92
200-day SMA	$19.11
20Y price change	-41.63%
20Y return CAGR	3.3%
20Y total return	91.51%
3M price change	-18.38%
3M total return	-17.13%
3Y price change	11.94%
3Y return CAGR	10.96%
3Y total return	36.62%
50-day SMA	$19.98
50-day SMA vs 200-day SMA	50over200
52-week high	$22.95
52-week high date	2026-07-28
52-week low	$15.70
52-week low date	2026-04-28
5Y price change	-48.46%
5Y return CAGR	-7.19%
5Y total return	-31.14%
6M price change	13.46%
6M total return	16.91%
All-time high	$56.06
All-time high date	2013-05-22
All-time low	$4.75
All-time low date	1985-10-02
Average true range (ATR)	$0.47
Average volume	5.9M
Beta (1Y)	0.14
Beta (2Y)	0.46
Beta (5Y)	0.99
Change from 52-week high	-19.21%
Change from 52-week low	18.09%
Change from all-time high	-67.21%
Change from all-time low	286.95%
Change from open	-1.54%
Day's gap	-1%
Dollar volume	$61.3M
High price	$18.83
Low price	$18.35
Monthly RSI	46.6
Open price	$18.83
Position in 52-week range	39.58%
Premarket change	0.26%
Premarket close	$19.02
Premarket price	$19.07
Previous close	$19.02
Price vs 150-day SMA	-6.85%
Price vs 20-day SMA	-2.84%
Price vs 200-day SMA	-3.83%
Price vs 50-day SMA	-8%
Relative volume	0.56
RSI	37.96
Sharpe ratio	0.11
Sharpe ratio (3Y)	0.36
Sharpe ratio (5Y)	-0.28
Sortino ratio	0.41
Sortino ratio (3Y)	0.8
Sortino ratio (5Y)	-0.19
Volume	3.3M
Weekly RSI	40.26
YTD price change	14.3%
YTD total return	20.63%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	686.7M
Float percentage	97.75%
Shares change (QoQ)	-0.76%
Shares change (YoY)	-0.7%
Shares held by insiders	0.31%
Shares held by institutions	97.06%
Shares outstanding	702.5M
Short % of float	3.4%
Short % of shares	3.32%
Short ratio	4.5 days

Deeper analysis on DOC

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this DOC report

What is the latest published DOC stock rating?

Healthpeak Properties, Inc. is shown with Strong Buy in the latest published report, analyzed 2026-09-20. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full DOC analysis?

The full latest published report, analyzed 2026-09-20, lives at /stocks/DOC/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for DOC?

The latest published report analyzed 2026-09-20 gives DOC a fair value of USD 30 and a potential value of USD 41. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the DOC page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-20). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

Strong BuyDOC · Fair value $30.0+47.5%

Read full analysis →

Category	Score	Reading
Valuation	8.5
Management	6.5
Balance Sheet	6.5
Profitability	3.5
Revenue Growth	6.0
Risk Assessment	6.5
Competitive Moat	3.5
Earnings Quality	9.0
Capital Efficiency	2.5

Healthpeak Properties, Inc. (DOC)

Our latest published analysis: DOC rated Strong Buy

Price

Financial snapshot

Fair-value bridge

Latest news · DOC

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All DOC indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on DOC

Frequently asked questions

등급 이력