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Healthpeak Properties (DOC)
NYSE:DOC
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Healthpeak Properties (DOC) AI Stock Analysis

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DOC

Healthpeak Properties

(NYSE:DOC)

Rating:74Outperform
Price Target:
$21.00
▲(10.24%Upside)
Healthpeak Properties displays solid financial performance with robust revenue growth and cash flow management, though high leverage is a concern. The technical analysis suggests positive momentum, but caution is advised due to overbought indicators. Valuation is mixed with a high P/E ratio offset by a strong dividend yield. The earnings call reinforced confidence in key business segments, despite challenges in the Lab segment.
Positive Factors
Dividend Increase
The dividend increased by 1.7% to $0.305, marking the first increase since February 2016.
Partnerships and Collaborations
DOC announced a new partnership with Hines, indicating potential growth and collaboration opportunities.
Share 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.
Investment Environment
The transition from distressed lab investments to share buybacks highlights a challenging macro environment for VC funding and lab leasing.
Lab Market Challenges
There is an expected deceleration in lab SSNOI growth, reflecting challenges in the Life Science market.

Healthpeak Properties (DOC) vs. SPDR S&P 500 ETF (SPY)

Healthpeak Properties Business Overview & Revenue Model

Company DescriptionHealthpeak 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 MoneyHealthpeak 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 Earnings Call Summary

Earnings Call Date:Jul 24, 2025
(Q1-2025)
|
% Change Since: 0.95%|
Next Earnings Date:Oct 23, 2025
Earnings Call Sentiment Neutral
The earnings call reflected a strong performance in the Outpatient Medical and Senior Housing segments, with effective balance sheet management and strategic partnerships enhancing future growth prospects. However, the Lab segment faced significant challenges, including market uncertainties and tenant credit concerns, which could impact future growth. The positive performance in other segments helps balance the negative outlook in the Lab segment.
Q1-2025 Updates
Positive Updates
Strong Outpatient Medical Performance
The Outpatient Medical segment showed robust same-store growth of 5%, driven by strong tenant retention and positive rent mark-to-market of 4.1%. Nearly 1 million square feet of leases were executed in the quarter.
Senior Housing Segment Growth
Senior Housing portfolio achieved a significant 16% same-store growth, driven by a 100 basis point increase in occupancy and rate growth of approximately 6%.
Solid Balance Sheet Management
Healthpeak issued $500 million unsecured notes at a rate of 5.375%, ending the quarter with 5.2x net debt to EBITDA and $2.8 billion of available liquidity.
Strategic Partnership for Development
Healthpeak partnered with Hines for the development of the residential component of their West Cambridge master plan, positioning the project for long-term success.
Negative Updates
Challenges in Lab Segment
The Lab segment faced challenges with a deceleration in same-store growth expected for the rest of the year, impacted by regulatory uncertainties and difficulty in capital raising within the biopharma sector.
Potential Leasing Delays
In the Lab segment, there is a concern about potential delays in leasing decisions due to market uncertainties, despite a strong pipeline.
Tenant Credit Concerns
There are ongoing concerns about tenants in the Lab segment needing to raise capital, which could affect their ability to fulfill lease obligations.
Company Guidance
During Healthpeak Properties, Inc.'s first-quarter conference call, the company maintained its guidance, reflecting confidence in its diversified portfolio amidst a challenging market backdrop. The company's guidance for FFO as adjusted is set in the range of $1.81 to $1.87 per share, while the blended portfolio same-store growth is expected to be between 3% to 4%. The company's strong performance in the Outpatient Medical and Senior Housing sectors, with same-store growth of 5% and 15.9%, respectively, offsets the challenges faced in its Lab business. Despite a challenging environment, Healthpeak signed 450,000 square feet of Lab leases year-to-date and maintains a robust pipeline. The company has been proactive in its capital allocation, including $1.4 billion in stabilized asset sales and $300 million in stock buybacks, which has helped maintain a leverage ratio in the low 5s. The guidance reflects Healthpeak's strategic focus on maintaining a strong balance sheet and leveraging high-quality, diversified assets to navigate market uncertainties.

Healthpeak Properties Financial Statement Overview

Summary
Healthpeak Properties demonstrates solid financial health with strong revenue growth and efficient cash flow management. While profitability metrics are improving, high leverage is a potential risk that needs monitoring. Overall, the company is well-positioned in its industry with opportunities for further operational enhancements.
Income Statement
78
Positive
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
72
Positive
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
80
Positive
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.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue2.70B2.18B2.06B1.90B1.64B
Gross Profit1.63B1.28B1.20B1.12B862.33M
EBITDA1.61B1.27B1.39B970.63M1.13B
Net Income243.14M306.01M500.45M505.54M413.56M
Balance Sheet
Total Assets19.94B15.70B5.10B5.18B4.41B
Cash, Cash Equivalents and Short-Term Investments119.82M138.99M7.73M9.88M2.52M
Total Debt9.02B7.08B1.92B2.02B1.51B
Total Liabilities10.88B8.77B2.10B2.19B1.67B
Stockholders Equity8.40B6.35B2.87B2.84B2.64B
Cash Flow
Free Cash Flow1.07B956.24M218.53M214.99M199.41M
Operating Cash Flow1.07B956.24M258.40M247.56M233.30M
Investing Cash Flow-113.80M-576.75M-38.47M-603.22M-201.91M
Financing Cash Flow-941.42M-337.30M-222.07M363.03M-31.22M

Healthpeak Properties Technical Analysis

Technical Analysis Sentiment
Positive
Last Price19.05
Price Trends
50DMA
17.53
Positive
100DMA
18.14
Positive
200DMA
19.19
Negative
Market Momentum
MACD
0.37
Negative
RSI
67.15
Neutral
STOCH
88.63
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DOC, the sentiment is Positive. The current price of 19.05 is above the 20-day moving average (MA) of 18.19, above the 50-day MA of 17.53, and below the 200-day MA of 19.19, indicating a neutral trend. The MACD of 0.37 indicates Negative momentum. The RSI at 67.15 is Neutral, neither overbought nor oversold. The STOCH value of 88.63 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DOC.

Healthpeak Properties Risk Analysis

Healthpeak Properties disclosed 58 risk factors in its most recent earnings report. Healthpeak Properties reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Healthpeak Properties Peers Comparison

Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
79
Outperform
$105.70B174.253.52%1.66%23.31%36.07%
77
Outperform
$4.38B31.185.15%6.53%7.81%179.16%
75
Outperform
$11.30B24.4710.53%6.87%10.56%45.37%
74
Outperform
$13.54B48.013.26%6.95%23.65%12.82%
68
Neutral
$31.23B203.931.36%2.76%10.00%
64
Neutral
$6.87B17.44-1.93%6.95%4.65%-24.33%
59
Neutral
$5.71B-6.83%7.64%-7.26%18.45%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
DOC
Healthpeak Properties
18.87
-1.63
-7.95%
WELL
Welltower
161.40
53.77
49.96%
OHI
Omega Healthcare
39.00
5.16
15.25%
SBRA
Sabra Healthcare REIT
18.37
2.91
18.82%
VTR
Ventas
67.11
14.92
28.59%
HR
Healthcare Realty Trust
16.24
-0.44
-2.64%

Healthpeak Properties Corporate Events

Business Operations and StrategyFinancial Disclosures
Healthpeak Properties Reports Q2 2025 Financial Results
Positive
Jul 24, 2025

Healthpeak Properties reported its second quarter 2025 financial results, showing a net income of $0.05 per share and a 3.5% growth in Total Merger-Combined Same-Store Cash NOI. The company executed significant lease agreements and entered into new development agreements to support outpatient expansion, while also achieving sustainability milestones and earning prestigious industry awards.

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.

Business Operations and Strategy
Healthpeak Properties to Join BofA Healthcare Panel
Neutral
May 12, 2025

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.

Shareholder MeetingsBusiness Operations and Strategy
Healthpeak Properties Approves Employee Stock Purchase Plan
Neutral
Apr 28, 2025

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.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 25, 2025