Healthpeak Properties (DOC) AI Stock Analysis

• Market Cap: $11.97B
• Dividend Yield: 7.16%
• Average Volume (3M): 6.21M
• Price to Earnings (P/E): 42.4
• Beta (1Y): 0.66
• Revenue Growth: 23.65%
• EPS Growth: 12.82%
• Country: US
• Employees: 387
• Sector: Real Estate
• Sector Strength: 63
• Industry: REIT - Healthcare Facilities
• EPS (TTM): 0.06
• Shares Outstanding: 694,732,100
• 10 Day Avg. Volume: 7,060,692
• 30 Day Avg. Volume: 6,211,239
• PEG Ratio: 3.06
• Price to Book (P/B): 1.49
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 10.67
• Enterprise Value/Market Cap: 1.80
• Enterprise Value/Revenue: 2.34
• Enterprise Value/Gross Profit: 18.94
• Enterprise Value/Ebitda: 3.65
• 1Y Price Target: $22.55
• Price Target Upside: 33.91% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11

• Rating: 69 Neutral
• Price Target: ―

Healthpeak Properties exhibits strong financial performance, particularly in revenue growth and cash flow management. However, high leverage and bearish technical indicators pose significant risks. While the earnings call highlights strategic successes, the challenges in the Lab segment are concerning. The recent corporate events show positive leadership changes and strategic initiatives, but the high P/E ratio raises valuation concerns. The attractive dividend yield partially offsets these risks, appealing to income-focused investors.

Positive Factors

Balance Sheet Strength

DOC's balance sheet appears well-placed to flex up to $1B of investments with limited competition.

Growth and Collaboration

DOC announced a new partnership with Hines, indicating potential growth and collaboration opportunities.

Stock Buybacks

The company repurchased $94 million in shares year-to-date, signaling confidence in its own stock value.

Negative Factors

Earnings Guidance

FY25 Adj-FFO guidance was maintained at $1.84/sh, below Street/BMO's $1.85.

Lab Market Deceleration

There is an expected deceleration in lab SSNOI growth, reflecting challenges in the Life Science market.

Market Challenges

The transition from distressed lab investments to share buybacks highlights a challenging macro environment for VC funding and lab leasing.

Healthpeak Properties Business Overview & Revenue Model

Company Description

Healthpeak Properties, Inc. (NYSE: PEAK) is a fully integrated real estate investment trust (REIT) that specializes in owning, developing, and managing a diversified portfolio of healthcare real estate in the United States. The company primarily focuses on three core sectors: Life Science, Medical Office, and Continuing Care Retirement Communities (CCRCs). Healthpeak Properties aims to deliver long-term growth and value for its shareholders by leveraging its expertise in healthcare real estate and maintaining a strong portfolio of high-quality properties.

How the Company Makes Money

Healthpeak Properties generates revenue primarily through leasing its healthcare real estate properties to tenants in the life science, medical office, and senior housing sectors. The company earns rental income from long-term lease agreements with tenants, which include healthcare providers, research institutions, and other businesses operating in the healthcare industry. Additionally, Healthpeak may engage in property development and redevelopment projects, which can enhance the value of its portfolio and generate additional income through the sale or leasing of newly developed spaces. Strategic partnerships and joint ventures with healthcare operators and investors also contribute to its revenue by expanding its reach and enhancing its market presence in key healthcare markets.

Healthpeak Properties Financial Statement Overview

Summary

Healthpeak Properties demonstrates solid financial health with strong revenue growth and efficient cash flow management. Despite improving profitability metrics, high leverage is a potential risk that requires monitoring. Overall, the company is well-positioned in its industry with opportunities for further operational enhancements.

Income Statement

Healthpeak Properties shows a strong revenue growth trajectory with a significant increase from 2024 to TTM (Trailing-Twelve-Months). The gross profit margin remains healthy, indicating good control over cost of sales. While net profit margin shows improvement over time, there is room for optimization in operational efficiency to enhance profitability further.

Balance Sheet

The company's debt-to-equity ratio is relatively high, indicating leveraged operations. However, the return on equity is decent, highlighting effective use of shareholder equity. The equity ratio is stable, suggesting a balanced approach to asset management, but high debt levels could pose future risks.

Cash Flow

Operating cash flow is robust with consistent free cash flow growth, signaling strong cash generation capabilities. The operating cash flow to net income ratio is favorable, demonstrating efficient cash conversion. However, attention to investing and financing activities is recommended to maintain liquidity.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
2.80B	2.70B	2.18B	526.63M	457.70M	437.50M
	Gross Profit
1.14B	1.62B	1.28B	355.54M	320.29M	309.31M
	EBIT
411.88M	471.22M	1.18B	124.89M	123.09M	124.70M
	EBITDA
1.59B	1.61B	1.19B	314.54M	280.96M	1.13B
	Net Income Common Stockholders
279.10M	243.14M	306.01M	37.80M	25.40M	10.20M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
157.16M	119.82M	138.99M	7.73M	9.88M	2.52M
	Total Assets
20.54B	19.94B	15.70B	5.10B	5.18B	4.41B
	Total Debt
9.30B	9.02B	7.08B	1.92B	2.02B	1.51B
	Net Debt
9.14B	8.90B	6.97B	1.92B	2.01B	1.51B
	Total Liabilities
10.94B	10.88B	8.77B	2.10B	2.19B	1.67B
	Stockholders Equity
8.88B	8.40B	6.35B	2.87B	2.84B	2.64B
Cash Flow		Free Cash Flow
1.17B	1.07B	956.24M	218.53M	214.99M	199.41M
	Operating Cash Flow
1.21B	1.07B	956.24M	258.40M	247.56M	233.30M
	Investing Cash Flow
-255.20M	-113.80M	-576.75M	-38.47M	-603.22M	-201.91M
	Financing Cash Flow
-969.18M	-941.42M	-337.30M	-222.07M	363.03M	-31.22M

Healthpeak Properties Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 16.84
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• 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 16.84 is below the 20-day moving average (MA) of 17.35, below the 50-day MA of 18.43, and below the 200-day MA of 20.11, indicating a bearish trend. The MACD of -0.38 indicates Negative momentum. The RSI at 36.01 is Neutral, neither overbought nor oversold. The STOCH value of 11.86 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
WELL	79 Outperform	$97.55B	160.81	3.52%	1.76%	23.31%	36.07%
SBRA	76 Outperform	$4.15B	29.52	5.15%	6.88%	7.81%	179.16%
OHI	71 Outperform	$10.48B	22.70	10.53%	7.40%	10.56%	45.37%
DOC	69 Neutral	$11.97B	42.44	3.26%	7.16%	23.65%	12.82%
VTR	64 Neutral	$86.80B	193.83	1.36%	2.85%	10.00%	―
Sector *	60 Neutral	$2.76B	10.59	0.51%	8507.90%	5.51%	-19.44%
HR	49 Neutral	$5.04B	―	-6.83%	8.64%	-7.26%	18.45%

Healthpeak Properties Corporate Events

Healthpeak Properties to Join BofA Healthcare Panel

John Thomas, Vice Chair of Healthpeak Properties, is set to participate in a panel discussion at the BofA Securities 2025 Healthcare Conference on May 14, 2025. This participation highlights Healthpeak’s ongoing engagement with industry events, potentially impacting its visibility and stakeholder relations.

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 Approves Employee Stock Purchase Plan

On January 30, 2025, Healthpeak Properties, Inc. adopted an Employee Stock Purchase Plan (ESPP) to allow eligible employees to purchase company stock at a discount, aligning their interests with those of shareholders. The ESPP was approved at the annual meeting on April 24, 2025, where all board nominees were elected, executive compensation was approved, and Deloitte & Touche LLP was ratified as the independent auditor.

Healthpeak Properties Appoints Kelvin O. Moses as CFO

On April 24, 2025, Healthpeak Properties appointed Kelvin O. Moses as Chief Financial Officer, effective immediately, as part of its succession plan. Moses, who joined Healthpeak in 2018 and has held various leadership roles, is expected to guide the company through its next growth phase, leveraging his strategic mindset and healthcare insight. His previous role involved leading the integration of a significant merger, establishing Healthpeak as the largest owner of outpatient medical real estate nationwide.

Healthpeak Properties Reports Q1 2025 Financial Results

Healthpeak Properties reported its financial results for the first quarter of 2025, showing a net income of $0.06 per share and a 7.0% growth in Total Same-Store Portfolio Cash (Adjusted) NOI. The company declared a monthly cash dividend and entered a long-term partnership with Hines for a mixed-use development in Cambridge, Massachusetts. Healthpeak also issued $500 million in senior unsecured notes and repurchased 5.1 million shares, enhancing its liquidity and financial position.

Healthpeak Properties CFO Resigns to Join Healthcare Realty

On April 2, 2025, Peter A. Scott resigned as Chief Financial Officer of Healthpeak Properties, Inc. to become the CEO of Healthcare Realty Trust Incorporated. Healthpeak Properties expressed gratitude for Scott’s eight years of service, during which the company undertook significant portfolio and platform improvements. The company plans to announce an internal successor soon, ensuring a seamless transition and continued organizational impact.