Healthpeak Properties (DOC) AI Stock Analysis

• Market Cap: $11.20B
• Dividend Yield: 7.73%
• Average Volume (3M): 6.85M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.53
• 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: 8,342,556
• 30 Day Avg. Volume: 6,848,049
• 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: 2.04
• Enterprise Value/Revenue: 8.15
• Enterprise Value/Gross Profit: 13.57
• Enterprise Value/Ebitda: 15.00
• 1Y Price Target: $19.73
• Price Target Upside: 25.03% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): 0.01
• Revenue Forecast (FY): $2.76B

• Rating: 58 Neutral
• Price Target: $17.50 ▲(10.90% Upside)

Healthpeak Properties shows potential with strong revenue growth and strategic initiatives. However, profitability challenges, increased leverage, and bearish technical indicators weigh on the overall score. The attractive dividend yield and positive corporate events provide some support.

Positive Factors

Revenue Growth

Robust revenue growth indicates strong market demand and effective business strategies, supporting long-term financial health and expansion.

Strategic Initiatives

The merger enhances market position and operational synergies, potentially leading to improved efficiency and competitive advantage.

Cash Flow Management

Efficient cash generation supports operational stability and provides flexibility for strategic investments and debt management.

Negative Factors

Profitability Challenges

Ongoing profitability issues could strain financial resources and limit reinvestment capabilities, impacting long-term growth.

Increased Leverage

Higher leverage increases financial risk, potentially affecting credit ratings and limiting future borrowing capacity.

Life Science Segment Challenges

Declining occupancy in the life sciences segment may reduce revenue and profitability, posing a challenge to segment recovery and 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 leasing its properties to tenants, which include healthcare providers and operators. The company earns rental income from long-term leases, typically structured with fixed annual increases. Key revenue streams include income from senior housing communities, medical office buildings, and life sciences properties. Additionally, Healthpeak may engage in development projects that create new income-generating properties. The company's strategic partnerships with healthcare operators and providers enhance its revenue potential by ensuring high occupancy rates and stable cash flows. Economic trends in the healthcare sector, demographic shifts, and regulatory changes significantly influence its earnings, as they affect demand for healthcare real estate.

Healthpeak Properties Financial Statement Overview

Summary

Healthpeak Properties shows strong revenue growth and solid cash flow generation, indicating operational strength. However, profitability challenges and increased leverage pose financial risks that need careful management.

Income Statement

Healthpeak Properties shows a strong revenue growth rate of 19.6% in the TTM, indicating robust top-line expansion. However, the company faces challenges with profitability, as evidenced by a negative net profit margin of -1.25% in the TTM, a decline from previous years. The EBIT margin has also decreased to 15.99% in the TTM, reflecting pressure on operating efficiency. Despite these challenges, the EBITDA margin remains healthy at 50.90%, suggesting good operational cash generation.

Balance Sheet

The company's debt-to-equity ratio has increased to 1.26 in the TTM, indicating higher leverage and potential risk. Return on equity has turned negative at -0.48%, reflecting recent profitability issues. However, the equity ratio remains stable, suggesting a balanced asset structure. The increase in debt levels could pose a risk if not managed effectively.

Cash Flow

Operating cash flow remains strong, with a high coverage ratio of 95.50% in the TTM, indicating efficient cash generation relative to net income. Despite a decline in free cash flow growth, the company maintains a solid free cash flow to net income ratio of 1.0, demonstrating effective cash management. The cash flow position supports operational stability despite recent profitability challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.80B	2.70B	2.18B	2.06B	1.90B	1.64B
Gross Profit	1.68B	1.63B	1.28B	1.20B	1.12B	862.33M
EBITDA	1.52B	1.61B	1.27B	1.39B	970.63M	1.13B
Net Income	-38.07M	243.14M	306.01M	500.45M	505.54M	413.56M
Balance Sheet
Total Assets	19.58B	19.94B	15.70B	15.77B	15.26B	15.92B
Cash, Cash Equivalents and Short-Term Investments	91.04M	119.82M	117.64M	72.03M	158.29M	44.23M
Total Debt	9.43B	9.02B	7.08B	6.71B	6.37B	6.48B
Total Liabilities	11.32B	10.88B	8.77B	8.48B	8.11B	8.57B
Stockholders Equity	7.60B	8.40B	6.35B	6.65B	6.52B	6.73B
Cash Flow
Free Cash Flow	1.24B	1.07B	956.24M	900.26M	795.25M	758.43M
Operating Cash Flow	1.24B	1.07B	956.24M	900.26M	795.25M	758.43M
Investing Cash Flow	-862.83M	-113.80M	-576.75M	-876.34M	531.03M	-1.01B
Financing Cash Flow	-460.89M	-941.42M	-337.30M	-116.53M	-1.29B	246.45M

Healthpeak Properties Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 15.78
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• 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 15.78 is below the 20-day moving average (MA) of 16.87, below the 50-day MA of 17.41, and below the 200-day MA of 17.49, indicating a bearish trend. The MACD of -0.44 indicates Positive momentum. The RSI at 26.88 is Positive, neither overbought nor oversold. The STOCH value of 6.14 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
NHI	77 Outperform	$3.65B	24.14	10.87%	4.73%	8.04%	9.20%
SBRA	77 Outperform	$4.62B	25.50	6.29%	6.47%	8.12%	75.95%
OHI	76 Outperform	$12.96B	24.64	11.28%	6.11%	13.50%	31.56%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
DOC	58 Neutral	$11.20B	-279.79	-0.48%	7.73%	9.58%	-111.99%
HR	56 Neutral	$5.89B	―	-7.26%	6.56%	-6.59%	33.35%
MPW	55 Neutral	$3.02B	-4.26	-14.02%	6.57%	45.56%	73.44%

Healthpeak Properties Corporate Events

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.