DOC Healthpeak Properties
$18.86
▼ 0.5%Updated Oct 16, 2:25 PM ET
Report Card
DOC at a glance — five pillars scored 0–100 from real filed financials.
How the 0–100 rating is calculatedOverall: Weak · 23/100. A wider, greener shape means more pillars look healthy. Dividends scores 0 when a company pays none — that is a choice, not a flaw.
Price — Past Year
▲ Up 14.7% in the year to Jul 6, 2026
Key Metrics
Market Cap
$15.46B
P/E
60.99x
Forward P/E (est.)
76.03x
ROE
2.9%
Revenue Growth
2.7%
EPS Growth
-19.8%
Profit Margin
7.7%
FCF Yield
5.0%
Debt / Equity
1.31x
ROIC
—
Interest Coverage
—
Current Ratio
—
Dividend Yield
6.0%
Implied Growth (rev. DCF)
6.5%
Rating Score
23/100
Business Overview
Healthpeak Properties (DOC) is a large-cap company in the Health Care REITs industry, part of the Real Estate sector of the S&P 500, with a market value around $15.46B.
In its latest reported year it generated about $2.82B in revenue and $71.35M in net profit.
Our model rates DOC Weak (23/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
Technical Analysis (Educational)
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what DOC's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. DOC trades near $18.86, around its 50-day average ($19.30) and 200-day average ($17.90). Price tangled in its moving averages means there is no clear trend — the stock is ranging.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 64 it is in neutral territory — neither stretched nor washed out.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently positive — short-term momentum is improving.
Volatility — ATR. Average True Range is the typical daily move. DOC's is $0.50 (~2.7% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. In the month to Jul 6, 2026, DOC found buyers near $19.23 (support) and sellers near $21.98 (resistance); its 52-week range then was $15.70–$21.98. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 1.0× the 20-day average — about normal. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. The indicators were last computed on Jul 6, 2026; the price is current.
Revenue Growth
4Y CAGR
10.5%
Revenue moved from $2.13B in 2016 to $2.82B in 2025, a 3.2% compound annual growth rate. The most recent year was roughly flat (2.7%) year over year. Slower, mature growth is common for established businesses.
Profitability
Gross Margin
58.9%
Operating Margin
21.7%
Net Margin
2.5%
ROE
2.9%
Healthpeak Properties keeps about 7.7% of each sales dollar as net profit, with a 58.9% gross margin and 21.7% operating margin. Return on equity is 2.9%. Margins are moderate — typical of a competitive but profitable business.
Debt Analysis
Total Debt
$10.03B
Net Debt
$8.41B
Net Debt / EBITDA
—
Debt / Equity
1.31x
Leverage: debt-to-equity is 1.3x. That is a moderate, manageable debt load for most businesses. It carries roughly $10.03B of total debt against $1.63B of cash.
Cash Flow Analysis
Operating CF
$1.25B
Free Cash Flow
$357.01M
FCF Margin
12.6%
In the latest year Healthpeak Properties produced about $1.25B of operating cash flow and $357.01M of free cash flow after capital spending. That is a free-cash-flow yield of about 5.0% on today's price. Strong cash generation funds dividends, buybacks, and reinvestment.
Dividend Safety
Can the payout survive a bad year? Scored from filed cash flow, earnings coverage, and the raise/cut record.
What to look for in a dividend stockCoverage is weak, the payout was cut recently, or it's being financed rather than earned — treat the current yield as fragile.
Dividend yield
6.0%
Per share (latest FY)
$1.22
Total paid (latest FY)
$849.10M
History on record
10 years
dividend uses 238% of free cash flow
1190% of net income paid out
total dividends increased 3 years in a row
payout was cut at least once in the last 10 years
Coverage uses the latest fiscal year as filed with the SEC; the streak counts total dollars paid (per-share figures can carry split artifacts). Educational information, not income advice.
Valuation Analysis
P/E
60.99x
P/S
5.11x
P/B
1.44x
EV / EBITDA
—
DOC trades at 61.0x trailing earnings (about 76.0x on estimated forward earnings), 5.1x sales, and 1.4x book value. Reverse-engineering today's price implies the market expects roughly 6.5% long-term free-cash-flow growth. That is a rich multiple that prices in a lot of future growth.
DCF Fair Value (Educational)
A two-stage discounted cash flow on real SEC-filed free cash flow — the intrinsic-value anchor professional analysts triangulate from.
How this DCF estimate is calculatedDCF fair value / share
$8.26
Current price
$18.86
Starting FCF (latest 10-K)
$357.01M
Growth, years 1–5
2.7%
Fade to terminal, years 6–10
2.5%
Discount rate
9.0%
Cash flows grow at the stage-1 rate (trailing revenue growth, capped at 20%) for five years, fade to 2.5% by year 10, and continue at that rate forever (Gordon terminal value), all discounted at 9.0%. Small changes in assumptions move the result a lot — treat this as one reference point, not a target price. Educational only, not investment advice.
Metrics vs. Sector Range
Where DOC sits versus the Real Estate companies we cover.
Bands show the middle half (25th–75th percentile) of the 33 Real Estate companies in our coverage that have fundamentals data — the peer-relative anchor professional comps analysis uses. Context only — not investment advice.
Sector Peer Comparison
How DOC stacks up against its Real Estate peers — valuation, profitability, and growth versus the sector median.
Among the 33 rated Real Estate companies we cover, DOC ranks #33 by our overall rating. It trades at a premium versus the sector on earnings (61x P/E vs. 29.9x median) with a lower return on equity (2.9% vs. 8.0%) and slower revenue growth (2.7% vs. 5.3%).
P/E vs sector
61x
median 29.9x
ROE vs sector
2.9%
median 8.0%
Growth vs sector
2.7%
median 5.3%
Sector rank
#33
of 33 rated
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Real Estate companies by sub-industry and size, preferring ones with full data. Sector medians and rank use the 33 rated companies among the 41 Real Estate stocks we cover. Educational, not a recommendation.
5-Year Projection Model
Project revenue → earnings → price. Edit the assumptions to build your own case.
What drives this projection, and its limits2030 scenario price range (Base Case)
$4.43 – $7.30
vs. $18.86 today · implied CAGR -25% – -17%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $2.91B | $2.99B | $3.08B | $3.18B | $3.27B |
| Net income | $87.22M | $89.83M | $92.53M | $95.30M | $98.16M |
| EPS | $0.11 | $0.11 | $0.11 | $0.12 | $0.12 |
| Share price (low) | $3.94 | $4.05 | $4.18 | $4.30 | $4.43 |
| Share price (high) | $6.49 | $6.68 | $6.88 | $7.09 | $7.30 |
| CAGR (low–high) | -79% / -66% | -54% / -40% | -40% / -29% | -31% / -22% | -25% / -17% |
Educational scenario model, not a forecast or investment advice. It starts from the latest annual revenue in SEC filings. By default, growth is trailing revenue growth (held between 3% and 45% a year), the net margin is the latest one (held between 3% and 50%, so a loss-making company is modeled with a small profit), and the Base case P/E runs from 60% to 100% of today's. Carrying recent growth forward five years can miss badly in either direction. Outputs are only as good as the assumptions.
Bull Case
The case for DOC:
- Healthy free-cash-flow yield (~5.0%) funds buybacks and dividends.
- Pays a 6.0% dividend on top of any price gains.
Bear Case
The case against DOC:
- Revenue growth is slow (2.7%), limiting the upside engine.
- A rich 61.0x earnings multiple prices in a lot of growth.
- Our model's overall read is Weak (23/100).
Key Risks
Valuation risk — at 61.0x earnings, disappointing results could compress the multiple.
Balance-sheet risk — debt/equity of 1.3x magnifies the impact of higher rates or weaker earnings.
Growth risk — sluggish revenue (2.7%) leaves little margin for execution missteps.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
Investment Thesis
On balance, the fundamentals screen weakly: Healthpeak Properties is a large-cap real estate business growing at a mature pace, with modest profitability, and a heavier debt load to watch. It trades at 61.0x earnings, which our model scores Weak (23/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Analyst Ratings
What 26 Wall Street analysts covering DOC recommend (September 2026). Consensus is a useful sanity check — not a substitute for your own homework.
Analysts have turned more cautious over the last three months (-14 pts of buy ratings).
Latest SEC Filings
DOC's most recent filings, straight from SEC EDGAR. Annual and quarterly reports are the deep dives; 8-Ks flag material events the moment they happen. How to read a 10-K
DOC — frequently asked questions
Is DOC a good stock to buy?
We don't give buy or sell advice. Our model rates Healthpeak Properties Weak (23/100) based on its growth, profitability, financial health, and valuation — use that as a research starting point and make your own decision.
What is DOC's rating on The Stocks School?
Healthpeak Properties currently scores 23/100 (Weak) on our transparent model, which weighs real fundamentals: growth, margins, returns on capital, balance-sheet strength, and valuation.
How our ratings work →Where does DOC's data come from?
Live price data plus real fundamentals and 5-year financials pulled directly from Healthpeak Properties's SEC filings — refreshed automatically, not hand-entered.
How is the 5-year projection for DOC calculated?
It's a scenario model. It starts from the latest annual revenue and net margin in SEC filings, grows revenue at an assumed rate (trailing revenue growth by default), and applies a P/E range built around today's multiple to show the resulting share-price range. When a stock has no growth or P/E data, the starting values are placeholders. It's a tool for thinking, not a prediction.
Is this DOC analysis financial advice?
No. Everything on this page is educational research, not financial advice or a recommendation to buy or sell DOC. Always do your own research and consider a licensed professional.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.