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Healthpeak Properties, Inc. DOC SPX

Real Estate · REIT - Healthcare Facilities · United States
https://www.healthpeak.com

Healthpeak Properties, Inc. is a Standard & Poor's 500 company that owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery in the United States. Our company was originally founded in 1985. We are organized as an umbrella partnership REIT. We hold substantially all our assets and conduct our operations through our operating subsidiary, Healthpeak OP, a consolidated subsidiary of which we are the managing member. We are a Maryland corporation and qualify as a self-administered REIT. We are headquartered in Denver, Colorado, with additional corporate offices in California, Tennessee, Wisconsin, and Massachusetts and property management offices in several locations throughout the U.S. We have a diversified portfolio of high-quality healthcare properties across three core asset classes of outpatient medical, lab, and continuing care retirement community real estate. Under the outpatient medical and lab segments, we own, operate, and develop outpatient medical buildings, hospitals, and lab buildings. Under the CCRC segment, our properties are operated through RIDEA structures. We have other non-reportable segments that are comprised primarily of: (i) an interest in an unconsolidated joint venture that owns 19 senior housing assets, (ii) loans receivable, and (iii) a preferred equity investment. These non-reportable segments have been presented on a combined basis herein. At September 30, 2025, our portfolio of investments, including properties in certain of our unconsolidated joint ventures, consisted of interests in 703 properties: (i) Outpatient medical – 530 properties; (ii) Lab – 139 properties; (iii) CCRC – 15 properties; and (iv) Other non-reportable – 19 properties. Healthpeak Properties, Inc. was incorporated in 1985 in Maryland, USA.

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$19.15
+17.94% 1Y

Market & Price

Market Cap
$13.20B
Current Price
$19.15
High / Low (52W)
$20.03 / $15.33
Beta
0.98

Valuation

Stock P/E
59.84
Industry PE
26.58
Forward P/E
141.85
PEG Ratio
4.32
Book Value
$11.26
Price to Book
1.70
P/S
4.60
EV/EBITDA
15.53
Dividend Yield
6.37%

Profitability & Returns

ROCE
3.18%
ROE
2.80%
ROA
1.50%
Profit Margin
7.73%
Op Margin
12.31%
EPS (Latest Qtr)
$0.28
EPS (TTM)
$0.32

Balance Sheet & Liquidity

Debt/Equity
1.18
Quick Ratio
1.41
Current Ratio
2.04
Debt
$10.71B
Total Assets
$20.34B
Current Assets
$1.30B
Working Capital
$-506.59M

Ownership

Promoter Holding
0.30%
Chg in Prom Hold
-
FII / Inst Holding
102.59%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
$23.97B
Total Revenue (TTM)
$2.87B
EBITDA
$1.54B
Free Cash Flow
$1.11B
Operating Cash Flow
$1.23B
Shares Outstanding
689.42M
Gross Margin
58.33%
Payout Ratio
381.26%

Growth (CAGR)

Revenue 5Y
11.05%
Profit 5Y
-47.76%
Revenue (YoY)
7.10%
Earnings (YoY)
363.90%

PROS

  • Compounding revenue at 11.0% over 5 years.
  • Attractive dividend yield of 6.37%.
  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Trading at a high P/E of 59.8.
  • Earnings shrank at -47.8% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Real Estate).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 DOC Healthpeak Properties, Inc. SPX 19.15 59.84 $13.20B 6.37% 3.18% 2.80% 11.05% -47.76%
2 WELL Welltower Inc. SPX 205.33 99.19 $144.95B 1.44% 0.26% 3.67% 22.69% 87.90%
3 PLD Prologis, Inc. SPX 143.47 36.14 $133.76B 2.98% 4.94% 6.84% 13.74% -0.36%
4 EQIX Equinix, Inc. SPX 1,068.04 74.07 $105.33B 1.84% 5.61% 10.06% 8.27% 24.18%
5 AMT American Tower Corporation SPX 186.96 30.11 $87.10B 3.73% 7.82% 29.95% 3.34% 12.73%
6 SPG Simon Property Group, Inc. SPX 204.91 14.25 $77.86B 4.29% 17.44% 113.59% 6.35% 29.32%
7 DLR Digital Realty Trust, Inc. SPX 190.00 50.53 $67.96B 2.57% 3.99% 5.69% 9.22% 51.32%
8 O Realty Income Corporation SPX 61.28 50.23 $57.14B 5.30% 3.27% 2.83% 19.80% 6.78%
9 PSA Public Storage SPX 303.69 31.34 $53.31B 3.95% 10.69% 20.18% 4.88% -25.69%
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Quarterly Results

Figures in USD.

Metric Mar 2016Jun 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue --------142.81M136.77M137.36M-126.69M177.77M213.04M-91.78M113.93M115.03M-116.13M117.31M119.02M-121.56M125.36M122.14M-127.08M130.18M133.81M138.78M140.89M--702.89M694.35M705.87M719.40M752.95M
Cost of Revenue -----------------------------------273.14M276.18M291.92M287.85M323.86M
Gross Profit -----------------------------------429.75M418.17M413.95M431.55M429.09M
Operating Expenses -----------------------------------294.66M286.68M282.22M285.71M314.32M
Operating Income -----------------------------------135.08M131.49M131.73M145.84M114.77M
EBITDA -----------------------------------395.53M390.85M404.34M467.84M572.67M
Interest Expense -----------------------------------72.69M75.06M76.78M80.64M87.29M
Pretax Income -----------------------------------54.29M39.65M65.24M125.11M195.65M
Tax Provision -----------------------------------2.08M2.38M-1.21M6.03M254.00K
Net Income 116.12M301.72M151.25M58.66M461.14M19.38M-7.66M-58.70M40.23M89.94M99.37M831.55M61.47M-13.60M-45.86M43.52M279.08M51.51M-63.42M146.39M145.79M276.28M54.71M28.76M71.61M68.34M353.97M6.53M118.95M51.90M64.21M6.68M146.05M--42.83M31.67M-117.12M113.97M193.63M
Diluted EPS 0.250.640.320.120.970.04-0.02-0.130.080.190.211.730.13-0.03-0.090.090.540.09-0.12-0.270.510.10-0.130.130.65-0.220.090.120.010.21--0.060.05-0.170.160.28

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue ----------524.27M144.22M144.33M436.49M-2.06B2.18B2.70B2.82B
Cost of Revenue ---------------862.99M902.06M1.07B1.13B
Gross Profit ---------------1.20B1.28B1.63B1.69B
Operating Expenses ---------------841.60M845.03M1.15B1.15B
Operating Income ---------------356.58M433.91M471.22M544.13M
EBITDA ---------------1.39B1.27B1.61B1.65B
Interest Expense ---------------172.94M200.33M280.43M305.18M
Pretax Income ---------------507.13M314.94M273.17M284.29M
Tax Provision ----------------4.42M-9.62M4.35M9.28M
Net Income -448.50M131.69M330.71M538.89M832.54M970.84M922.23M-559.24M627.75M414.17M1.06B45.53M413.56M-500.45M306.01M243.14M71.35M
Diluted EPS 2.701.790.401.001.291.902.132.00-1.211.340.882.240.090.77-0.920.560.360.10

Compounded Sales Growth

5 Years:11.05%
1 Year:7.10%

Compounded Profit Growth

5 Years:-47.76%
1 Year:363.90%

Stock Price Performance

1 Year:+17.94%
6 Months:+9.56%
3 Months:+10.19%
1 Month:+20.40%

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2006Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets --11.85B12.21B13.33B17.41B19.92B20.08B21.33B21.45B15.76B14.09B12.72B14.03B15.92B-15.77B15.70B19.94B20.34B
Current Assets ----------------604.97M561.28M924.87M1.30B
Cash & Equivalents 58.41M96.27M57.56M112.26M1.04B33.51M247.67M300.56M181.92M340.44M94.73M55.31M53.98M80.40M44.23M-72.03M117.64M119.82M467.46M
Inventory --------------------
Receivables ----------------53.44M55.82M76.81M78.33M
Total Liabilities --6.44B6.25B5.19B8.19B9.16B9.14B10.33B11.70B9.82B8.49B6.21B7.37B8.57B-8.48B8.77B10.88B12.03B
Current Liabilities ----------------1.77B1.38B875.34M1.81B
Long Term Debt -----7.63B8.61B8.59B9.66B10.97B9.10B7.79B5.48B6.30B6.62B-5.50B6.16B8.57B8.77B
Total Debt ----------------6.71B7.08B9.02B10.14B
Total Equity --5.20B5.78B7.96B9.03B10.55B10.72B10.74B9.34B5.55B5.30B5.94B6.09B6.73B-6.65B6.35B8.40B7.50B
Shares Outstanding ----------------546.64M547.16M699.49M695.04M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow 453.05M568.70M515.63M580.50M724.16M1.03B1.15B1.25B1.22B1.21B847.04M848.71M846.07M758.43M-900.26M956.24M1.07B1.25B
Investing Cash Flow -2.89B427.33M-61.41M-430.93M-4.58B-2.31B-196.65M-1.51B-1.66B-428.97M1.25B1.83B-1.45B-1.01B--876.34M-576.75M-113.80M-1.03B
Financing Cash Flow 2.47B-1.03B-399.53M774.87M2.85B1.49B-900.42M144.80M614.09M-1.05B-2.15B-2.62B647.27M246.45M--116.53M-337.30M-941.42M136.11M
Capital Expenditure -------------------
Free Cash Flow ---------------900.26M956.24M1.07B1.25B
Net Change in Cash ----------------92.61M42.19M15.28M353.40M
Share Buybacks -------12.70M8.74M8.69M4.79M3.43M5.04M10.53M12.84M67.84M6.52M190.69M97.14M
Dividends Paid 393.57M457.64M517.07M590.74M787.69M865.31M956.68M1.00B1.05B979.54M694.96M696.91M720.12M787.07M650.08M648.05M657.02M794.78M849.10M

Ratios (Annual)

Figures in %.

Metric Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % ---------------58.1%58.6%60.2%60.0%
Operating Margin % ---------------17.3%19.9%17.4%19.3%
Net Margin % ----------79.0%735.8%31.5%94.7%-24.3%14.0%9.0%2.5%
ROE % -8.6%2.3%4.2%6.0%7.9%9.1%8.6%-6.0%11.3%7.8%17.9%0.7%6.1%-7.5%4.8%2.9%1.0%
ROCE % ---------------2.5%3.0%2.5%2.9%

Shareholding Pattern

Insiders
0.30%
Institutions
102.59%
Public Float
102.90%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 10.64% 73.36M $1.40B
2 Vanguard Portfolio Management LLC 8.43% 58.13M $1.11B
3 State Street Corporation 7.03% 48.50M $928.79M
4 Vanguard Capital Management LLC 6.56% 45.22M $865.94M
5 JPMORGAN CHASE & CO 6.49% 44.73M $856.61M
6 Fuller & Thaler Asset Management Inc. 4.24% 29.20M $559.21M
7 Geode Capital Management, LLC 3.54% 24.40M $467.28M
8 Invesco Ltd. 3.51% 24.17M $462.81M
9 Principal Financial Group, Inc. 2.72% 18.77M $359.36M
10 Bank Of New York Mellon Corporation 2.24% 15.46M $295.99M

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