— Know what they know.
/
Not Investment Advice

DOC

NYSE · USD
Healthpeak Properties, Inc.
Real Estate · REIT - Healthcare Facilities
CEO Scott Brinker Employees 411 R&D / revenue 0.0%
Last price
$18.98+0.11%last session
Market cap
$13.1B
P/E (TTM)
54.2x
From 52w high
−17.3%
From 52w low
+20.9%
1-year return
+4.7%
RSI 14 · vs SMA200
38.0 · +0.1%
IS score
41.2/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

DOC   SPY   XLRE (sector ETF) · weekly closes
90100110120Jan 26Apr 26Jul 26Oct 26SPY 116DOC 105XLRE 101

Score DNA

Each bar is a 0-100 score within the scored universe
37
Profitability
60
Growth
48
Value
88
Momentum
15
Risk (safety)
67
Quality
45
Balance sheet
82
Earnings quality

Flags

Strengths
None of the computed strength flags fires.
Warnings
▲ Altman distress zone
Observations
Moat model: Weak, Efficient ScalePiotroski 7 / 9Altman Z 1.0Beta 0.991 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
1 open-market sales, $213,740
Form 144 notices (12m): 1, $213,741 proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+6
103 new holders, 92 closed
762 filers hold 97.5% · 235 added, 320 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+138
611 funds adding shares
473 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
31.9%
20-day avg 53.4%, 50-day avg 53.6%
Latest 21.5 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$2.8B
Revenue growth YoY+4.5%
Gross margin22.5%
Operating income$544.1M
Operating margin19.3%
Net income$71.3M
Net margin2.5%
EPS (diluted)$0.10
Cash flow
Operating cash flow$1.3B
Capital expenditure$134.0M
Free cash flow$1.1B
FCF conversion (FCF / OCF)89.5%
Stock-based compensation$0
FCF less SBC$1.1B
Buybacks$97.1M
Dividends$849.1M
Balance sheet & returns
Cash & short-term investments$537.7M
Total debt$10.1B
Net debt$9.6B
Shareholders' equity$8.3B
Goodwill & intangibles$723.0M
Debt / equity1.32
ROE (TTM)3.3%
ROIC (TTM)16.1%
Operating margin by fiscal year
17.9%FY202117.3%FY202219.9%FY202317.4%FY202419.3%FY2025
Revenue $1.9B (FY2021) to $2.8B (FY2025), a 10.5% CAGR.

Valuation

P/E (TTM)54.2x
EV / EBITDA12.5x
Price / sales4.44x
Price / FCF44.2x
FCF yield2.26%
Buyback yield0.74%
SBC / revenue0.8%
Price / book1.67x
Forward P/E FY202641.1x
Forward P/E FY202786.0x
Forward P/E FY202864.8x
Forward multiples divide today's price by Street EPS estimates. Street mean target $21.80 across 5 analysts last quarter is theirs, not ours.

DOC vs industry median

33 companies in REIT - Healthcare Facilities
Gross margin 2.5% 58.9% Operating margin 17.6% 27.2% Net margin 8.6% 7.9% ROIC 16.1% 3.5%
DOC (TTM)Industry median Asset turnover 0.14 vs industry 0.13 · financial leverage 2.76

Earnings delivery

Next report 2026-11-02 · consensus EPS $0.06
83%
beat rate, 10 of 12 quarters
+2.3%
median EPS surprise
6
longest beat streak
+2+2+2+2+2+820+0+0+2+4+5+184
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-30 to 2026-08-04. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
DOC Healthpeak Properties, Inc. $13.1B54.2x3.3%8.6%+4.5% +4.7%
OHI Omega Healthcare Investors, $13.8B15.8x16.5%—+15.9% +14.9%
AHR American Healthcare REIT, In $11.6B78.2x4.0%4.5%+16.4% +25.4%
CTRE CareTrust REIT, Inc. $8.6B22.7x9.1%55.2%+96.2% +8.2%
HR Healthcare Realty Trust Inco $6.1Bn/m-1.9%-15.4%−4.8% −3.4%
SBRA Sabra Health Care REIT, Inc. $4.9B73.3x2.4%-10.7%+17.3% —
VTR Ventas, Inc. $44.0B156.1x2.0%4.3%+21.5% —
NHI National Health Investors, I $3.3B19.1x10.9%45.9%+24.4% —
12-month window: SPY +15.9%, sector ETF XLRE +0.9%. Past returns describe history only.

Recent 8-K filings

2026-08-04Earnings Release; Regulation FD; Exhibits
2026-05-05Earnings Release; Regulation FD; Exhibits
2026-05-04Shareholder Vote
2026-03-23Material Agreement; Financial Obligation; Exhibits
2026-02-27Regulation FD Disclosure
2026-02-02Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits

Context

Shares outstanding689,527,000
Free float99.6%
Institutional ownership97.5%
Beta0.99
Dividend yield6.43%
Last dividend$0.10 on 2026-12-18
50 / 200-day average$20.32 / $19.01
Large-cap Real Estate median P/E26.2x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where DOC sits among 17 scored companies in REIT - Healthcare Facilities (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureDOCIndustry medianIndustry percentileSector median
P/E (TTM) 51.6x 27.5x
58th		 24.1x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 4.4x 5.2x
38th		 3.7x
Price / book 1.7x 1.8x
44th		 1.3x
Price / tangible book 2.1x 2.4x
36th		 1.6x
Price / free cash flow 44.2x 23.7x
73rd		 15.1x
Price / operating cash flow 10.6x 14.6x
8th		 12.3x
Enterprise value $21.8B $7.4B
88th		 $7.5B
EV / sales 7.4x 8.9x
31st		 9.4x
EV / EBITDA 12.2x 18.5x
12th		 15.7x
EV / EBIT 31.8x 28.6x
54th		 27.2x
EV / free cash flow 73.5x 29.3x
82nd		 29.4x
Earnings yield 1.9% 1.7%
56th		 3.2%
FCF yield 2.3% 2.3%
50th		 5.6%
Operating cash flow yield 9.4% 6.0%
94th		 7.9%
Graham number (per share) $9.70 $19.03
17th		 $22.48

Profitability (TTM)

MeasureDOCIndustry medianIndustry percentileSector median
Gross margin 2.5% 38.8%
31st		 51.4%
EBITDA margin 60.4% 45.5%
64th		 54.9%
Operating margin 17.6% 22.6%
44th		 29.0%
EBIT margin 23.2% 22.2%
53rd		 31.7%
Net margin 8.6% 8.6%
50th		 12.2%
NOPAT margin 17.4% 17.6%
47th		 25.5%
FCF margin 10.0% 11.8%
38th		 21.8%
Operating cash flow margin 41.7% 38.5%
62nd		 33.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 3.1% 4.2%
40th		 6.6%
Stock comp / revenue 0.8% 1.3%
33rd		 1.2%
Effective tax rate 1.3% 1.6%
47th		 1.9%

Returns on capital

MeasureDOCIndustry medianIndustry percentileSector median
ROE (on average equity) 3.2% 3.3%
44th		 5.3%
ROA 1.2% 2.1%
44th		 1.6%
ROIC 3.1% 3.6%
44th		 3.7%
ROCE 3.3% 3.3%
44th		 4.4%
Return on tangible assets 3.3% 3.3%
44th		 3.8%
Cash ROIC (OCF / invested capital) 7.4% 6.5%
75th		 5.7%
Gross profitability (GP / assets) 0.3% 4.4%
31st		 5.3%
ROIC, 3-yr average 2.1% 1.5%
57th		 2.4%
ROIC, 5-yr average 2.8% 1.5%
62nd		 2.6%
ROE, 5-yr average 4.1% 2.1%
62nd		 4.4%
Incremental ROIC 39.5% -3.3%
93rd		 6.5%

Growth

MeasureDOCIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 5.5% 16.4%
36th		 8.4%
Revenue growth (QoQ) 2.5% 3.5%
38th		 2.2%
Revenue CAGR, 3 yr 11.7% 13.4%
38th		 5.8%
Revenue CAGR, 5 yr 19.1% 12.4%
85th		 9.5%
Gross profit CAGR, 3 yr -60.7% 3.2%
0th		 -0.8%
Operating income CAGR, 3 yr 12.1% 17.4%
40th		 3.0%
Net income growth (TTM YoY) 53.8% 39.3%
62nd		 21.3%
Net income CAGR, 3 yr -21.8% 25.7%
0th		 8.5%
EPS growth (TTM YoY) 55.5% 29.9%
88th		 17.6%
EPS CAGR, 3 yr -27.6% 22.6%
0th		 5.7%
EPS CAGR, 5 yr -16.9% 5.6%
0th		 5.6%
FCF growth (TTM YoY) -76.2% 11.8%
0th		 3.0%
FCF CAGR, 3 yr -31.5% 10.7%
0th		 5.6%
Operating cash flow CAGR, 3 yr 10.1% 10.9%
40th		 3.7%
Book value CAGR, 3 yr -1.6% -3.3%
54th		 -2.0%
Dividend CAGR, 3 yr -7.4% -1.4%
8th		 -1.2%
Sustainable growth rate -7.5% -1.8%
25th		 -1.4%

Margin history & stability

MeasureDOCIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 40.8% 42.4%
43rd		 59.1%
Operating margin, 3-yr average 18.4% 18.4%
50th		 28.6%
Net margin, 3-yr average 8.8% 8.8%
50th		 12.3%
FCF margin, 3-yr average 31.4% 31.4%
50th		 27.4%
Revenue stability (0-1) 0.98 0.68
100th		 0.82
Earnings stability (0-1) 0.34 0.27
64th		 0.36
Margin stability (0-1) 0.46 0.80
29th		 0.83

Liquidity (latest quarter)

MeasureDOCIndustry medianIndustry percentileSector median
Cash & short-term investments $1.6B $116.8M
94th		 $141.2M
Net cash (− = net debt) −$8.7B −$2.3B
19th		 −$3.3B
Working capital $1.1B $13.0M
100th		 $19.5M
Current ratio 2.52 0.72
82nd		 1.02
Quick ratio 2.52 0.72
82nd		 1.02
Cash ratio (cash + ST investments / current liabilities) 2.17 0.27
75th		 0.36
Defensive interval (days) —

Leverage & solvency (latest quarter)

MeasureDOCIndustry medianIndustry percentileSector median
Total debt $10.3B $2.4B
88th		 $3.5B
Debt / equity 1.32 0.97
62nd		 1.33
Net debt / equity 1.11 0.95
62nd		 1.26
Debt / assets 47.6% 47.6%
50th		 51.3%
Debt / capital 56.8% 49.2%
62nd		 57.1%
Debt / EBITDA 5.79 5.90
44th		 6.47
Net debt / EBITDA 4.88 5.87
31st		 6.15
Interest coverage (EBIT / interest) 2.0x 1.5x
69th		 1.5x
Cash interest coverage 3.7x 2.4x
69th		 2.1x
Debt payback (years of OCF) 8.4 yrs 7.3 yrs
69th		 8.9 yrs
Liabilities / assets 56.2% 50.1%
62nd		 60.0%
IS credit model rating BB+ — —
Implied credit spread (bps) 400 400
38th		 650

Efficiency

MeasureDOCIndustry medianIndustry percentileSector median
Asset turnover 0.14 0.16
38th		 0.12
Fixed asset turnover 7.47 0.55
75th		 0.90
Inventory turnover —
Receivables turnover 17.9 17.9
50th		 7.6
Days sales outstanding 20 days 16 days
56th		 37 days
Days inventory outstanding —
Days payables outstanding 32 days 5 days
62nd		 53 days
Cash conversion cycle (days) −12 days 8 days
25th		 −6 days
Capex / revenue 31.7% 4.6%
87th		 4.4%
Capex / depreciation 0.85 0.29
87th		 0.32
Operating expense ratio 40.6% 28.8%
75th		 30.9%

Cash flow & earnings quality

MeasureDOCIndustry medianIndustry percentileSector median
Operating cash flow / net income 4.85 2.51
83rd		 1.83
FCF / net income 1.17 1.59
25th		 1.43
FCF / operating cash flow 24.1% 87.5%
17th		 82.5%
Capex / operating cash flow 75.9% 12.5%
83rd		 17.9%
Accruals ratio -4.7% -4.7%
50th		 -3.1%
Sloan accruals ratio 2.7% -5.5%
94th		 -3.3%
Earnings quality score (0-1) 1.00 1.00
33rd		 1.00

Dividends & buybacks

MeasureDOCIndustry medianIndustry percentileSector median
Dividend yield 6.4% 5.5%
75th		 5.2%
Dividend per share (TTM) $1.22 $1.50
44th		 $1.21
Payout ratio (dividends / net income) 333.4% 152.4%
75th		 110.2%
Dividends / FCF 285.6% 85.8%
100th		 79.1%
Dividend growth (YoY) 1.2% 1.2%
50th		 2.3%
Buyback yield 0.8% 0.0%
94th		 0.1%
Shareholder yield (dividends + buybacks) 7.2% 5.4%
81st		 5.9%
Share count change (YoY) -1.0% 3.6%
7th		 0.5%
Buybacks, last 5 years $487.3M $0
94th		 $15.9M

Scores & forensic checks

MeasureDOCIndustry medianIndustry percentileSector median
IS score 41 49
44th		 43
IS profitability 37 37
50th		 44
IS growth 60 64
29th		 58
IS value 48 48
50th		 53
IS momentum 88 88
50th		 77
IS risk (safety) 15 15
12th		 15
IS quality 67 64
62nd		 59
IS balance sheet 45 42
75th		 35
IS earnings quality 82 72
81st		 72
IS cash flow 36 65
38th		 61
Piotroski F-score (0-9) 7 6
94th		 6
Altman Z-score 1.0 1.0
44th		 0.8
Beneish M-score −3.19 −2.87
38th		 −2.71
Ohlson O-score −7.99 −7.60
38th		 −6.91
IS credit score 46 45
56th		 34

Per share

MeasureDOCIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $0.37 $0.63
38th		 $0.78
Book value per share $11.37 $15.33
38th		 $15.91
Tangible book per share $12.63 $12.63
50th		 $16.11
Revenue per share $4.28 $6.23
31st		 $6.28
FCF per share $0.43 $1.37
44th		 $1.49
Operating cash flow per share $1.78 $1.94
38th		 $1.95
Cash per share $2.36 $0.49
94th		 $0.95

Size (TTM)

MeasureDOCIndustry medianIndustry percentileSector median
Market cap $13.1B $3.3B
81st		 $2.5B
Revenue $2.9B $1.1B
88th		 $956.7M
EBITDA $1.8B $390.9M
88th		 $399.5M
Net income $253.7M $68.0M
75th		 $109.6M
Free cash flow $296.2M $134.8M
69th		 $157.8M
Total assets $21.7B $5.5B
88th		 $6.6B
Shareholders' equity $7.8B $2.8B
88th		 $1.8B
Employees 411 121
60th		 307

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-05-29Thomas John T
Director
 Award / grant 1,385$15.46$21,414830,053
2026-05-29Thomas John T
Director
 Tax withholding 78$19.15$1,494829,975
2026-05-29Patadia Ankit B.
EVP and Treasurer
 Award / grant 1,358$15.46$20,9979,047
2026-05-29Patadia Ankit B.
EVP and Treasurer
 Tax withholding 94$19.15$1,8008,953
2026-05-29Moses Kelvin O
Chief Financial Officer
 Award / grant 937$15.46$14,4871,692
2026-05-29Moses Kelvin O
Chief Financial Officer
 Tax withholding 65$19.15$1,2451,627
2026-05-29Mabry Adam G
CIO
 Award / grant 625$15.46$9,6635,140
2026-05-29Mabry Adam G
CIO
 Tax withholding 43$19.15$8235,097
2026-05-29Johnston Shawn G
EVP and CAO
 Award / grant 1,358$15.46$20,99742,336
2026-05-29Johnston Shawn G
EVP and CAO
 Tax withholding 76$19.15$1,45542,260
2026-05-29Brinker Scott M
Director, President and CEO
 Award / grant 1,347$15.46$20,827214,802
2026-05-29Brinker Scott M
Director, President and CEO
 Tax withholding 114$19.15$2,183214,688

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
May

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1375,218$108,385
GiftDisposed160,186—
GiftAcquired160,186—
Open-market saleDisposed110,989$213,740
Tax withholdingDisposed6470$9,000
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 1 notices · 10,989 shares · $213,741
FiledFilerShares proposedEst. proceeds
2026-05-12Bohn Scott R10,989$213,741
2025-07-01Scott Peter A100,050$1.8M
2024-04-29Garvey Christine9,200$172,513
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 2 trades (2 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-01-09Gilbert CisnerosHousePurchase$1,001 - $15,0002026-02-13
2026-01-08Gilbert Ray CisnerosHousePurchase$1,001 - $15,0002026-02-13
2025-08-03Lisa C. McClainHouseSale (Full)$1,001 - $15,0002025-09-15
2025-06-17Lisa McClainHousePurchase$1,001 - $15,0002025-08-13
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.70,935,046$1.5B10.29%
VANGUARD PORTFOLIO MANAGEMENT LLC58,375,816$1.2B8.47%
VANGUARD CAPITAL MANAGEMENT LLC45,014,755$963.3M6.53%
STATE STREET CORP44,007,417$941.8M6.38%
JPMORGAN CHASE & CO29,853,794$653.6M4.33%
FULLER & THALER ASSET MANAGEMENT, INC.29,119,832$623.2M4.22%
GEODE CAPITAL MANAGEMENT, LLC24,653,617$526.9M3.58%
Invesco Ltd.18,507,997$396.1M2.68%
PRINCIPAL FINANCIAL GROUP INC16,760,575$358.7M2.43%
Bank of New York Mellon Corp15,179,932$324.9M2.20%
Sixth Street Partners Management Company, L.P.11,940,675$255.5M1.73%
CHARLES SCHWAB INVESTMENT MANAGEMENT INC11,940,675$255.5M1.73%
GOLDMAN SACHS GROUP INC11,530,531$246.8M1.67%
MORGAN STANLEY11,087,045$237.3M1.61%
BANK OF AMERICA CORP /DE/10,962,604$234.6M1.59%

Institutional ownership by quarter

2023-092026-0697.5%
% of shares held by 13F filers
2023-092026-06762
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-3076297.5%10323532092
2026-03-3175699.1%8734421384
2025-12-3176796.4%11125029778
2025-09-3074694.4%10229324976
2025-06-3072994.6%86282268101
2025-03-3175496.2%8434222578
2024-12-3175894.2%10927628470
2024-09-3073193.3%10726925368
2024-06-3070292.9%10627523471
2024-03-3167593.2%14333813573
2023-12-3161274.2%10521722067
2023-09-3058474.3%4424320760

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-08-07SCHEDULE 13GSTATE STREET CORPORATION6.4%44,044,096
2026-07-22SCHEDULE 13G/AJPMORGAN CHASE & CO.4.3%29,934,020
2026-05-13SCHEDULE 13GJPMORGAN CHASE & CO6.1%43,093,473
2026-04-30SCHEDULE 13GVanguard Capital Management7.4%51,643,591
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VGSLX0.78%$521.4M
VGSNX0.78%$521.4M
VNQ0.78%$521.4M
VITSX0.02%$438.2M
VTI0.02%$438.2M
VTSAX0.02%$438.2M

Share structure

Shares outstanding689,527,000
Float686,693,303
Free float99.6%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$1.9B$2.1B$2.2B$2.7B$2.8B
Cost of revenue$773.3M$863.0M$902.1M$1.1B$2.2B
Gross profit$1.1B$1.2B$1.3B$1.6B$634.5M
R&D$0$0$0$0$0
SG&A$98.3M$131.0M$95.1M$97.2M$90.4M
Operating income$340.3M$356.6M$433.9M$471.2M$544.1M
EBITDA$970.6M$1.4B$1.3B$1.6B$1.6B
Pretax income$134.5M$509.1M$325.1M$271.7M$110.3M
Income tax−$3.3M−$4.4M−$9.6M$4.3M$9.3M
Net income$505.5M$500.4M$306.0M$243.1M$71.3M
EPS, diluted$0.93$0.92$0.56$0.36$0.10
Diluted shares539.2M539.1M547.3M676.2M696.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$158.3M$72.0M$117.6M$119.8M$537.7M
Receivables$464.5M$428.3M$274.3M$794.0M$684.3M
Inventory$0$0$0$0$0
Total current assets$713.4M$605.0M$561.3M$986.1M$1.1B
PP&E, net$233.9M$237.3M$240.2M$424.2M$412.2M
Goodwill & intangibles$519.8M$418.1M$314.2M$817.3M$723.0M
Total assets$15.3B$15.8B$15.7B$19.9B$20.3B
Accounts payable$227.6M$265.6M$240.3M$276.0M$718.5M
Total current liabilities$1.9B$1.8B$1.4B$875.3M$985.3M
Long-term debt$5.0B$5.5B$6.2B$8.6B$10.1B
Total liabilities$8.1B$8.5B$8.8B$10.9B$12.0B
Shareholders' equity$7.1B$7.3B$6.9B$9.1B$8.3B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$525.9M$516.4M$334.8M$267.3M$70.5M
Depreciation & amortization$684.3M$710.6M$749.9M$1.1B$1.1B
Stock-based compensation$18.2M$26.5M$14.5M$31.8M$0
Change in working capital$26.4M$118.9M$82.9M$44.8M$105.7M
Operating cash flow$795.2M$900.3M$956.2M$1.1B$1.3B
Capital expenditure$0$0$0$0−$134.0M
Free cash flow$795.2M$900.3M$956.2M$1.1B$1.1B
Investing cash flow$531.0M−$876.3M−$576.8M−$113.8M−$1.1B
Net debt issued / repaid−$301.0M$324.6M$378.1M$153.2M$1.1B
Buybacks−$12.8M−$67.8M−$6.5M−$190.7M−$97.1M
Dividends paid−$650.1M−$648.0M−$657.0M−$794.8M−$849.1M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin59.2%58.1%58.6%60.2%22.5%
Operating margin17.9%17.3%19.9%17.4%19.3%
Net margin26.7%24.3%14.0%9.0%2.5%
FCF margin41.9%43.7%43.8%39.6%43.4%
ROE7.6%7.6%4.7%3.3%0.9%
ROIC2.7%2.7%3.4%2.7%2.9%
ROA3.2%3.2%1.9%1.4%0.4%
Debt / equity0.981.011.121.071.39
Interest coverage1.8x3.9x2.6x2.0x1.8x
Current ratio0.370.340.411.131.09
Revenue growth+74.5%+8.7%+5.8%+23.8%+4.5%
EPS growth+22.0%−0.8%−39.9%−37.8%−70.5%
P/E at year end30.2x22.4x31.2x54.5x156.9x
EV / EBITDA at year end22.1x12.8x13.0x13.8x13.2x
FCF yield at year end5.21%8.03%10.03%8.07%10.94%
Dividend payout128.6%129.5%214.7%326.9%1,190.1%

Revenue by segment

FY2025
Outpatient Medical Buildings$1.3B
Lab$860.0M
Senior Housing$604.0M

Revenue by region · FY2025

Outpatient Medical Buildings$1.3B · 47%
Lab$860.0M · 31%
Senior Housing$604.0M · 22%

Street estimates by fiscal year

Next report 2026-11-02 · consensus EPS $0.06 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$3.0B$3.0B – $3.1B$0.46$0.45 – $0.46241.1x
2027$3.2B$3.1B – $3.3B$0.22$0.21 – $0.23486.0x
2028$3.5B$3.2B – $3.6B$0.29$0.27 – $0.31264.8x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-04$0.03$0.08+183.7%$725.6M$749.8M+3.3%
2026-05-05$0.43$0.45+4.7%$694.6M$738.8M+6.4%
2026-02-02$0.45$0.47+4.4%$691.6M$704.8M+1.9%
2025-10-23$0.45$0.46+2.2%$685.1M$705.9M+3.0%
2025-07-24$0.46$0.460.0%$701.7M$694.3M−1.1%
2025-04-24$0.46$0.460.0%$689.2M$702.9M+2.0%
2025-02-03$0.05$0.46+820.0%$698.3M$698.0M−0.0%
2024-10-24$0.44$0.45+2.3%$686.1M$700.4M+2.1%
2024-07-25$0.44$0.45+2.3%$681.6M$695.5M+2.0%
2024-04-25$0.44$0.45+2.3%$589.3M$606.6M+2.9%
2024-02-08$0.45$0.46+2.2%$139.4M$135.5M−2.8%
2023-10-30$0.44$0.45+2.3%$137.1M$138.5M+1.0%
2023-07-27$0.44$0.45+2.3%$135.1M$135.1M−0.0%
2023-04-27$0.42$0.420.0%$520.0M$134.3M−74.2%
2023-02-07$0.43$0.44+2.3%$519.8M$132.6M−74.5%
2022-11-01$0.43$0.430.0%$515.9M$131.5M−74.5%
2022-08-02$0.43$0.44+2.3%$484.9M$132.2M−72.7%
2022-05-03$0.42$0.43+2.4%$488.2M$130.4M−73.3%
2022-02-08$0.41$0.410.0%$117.5M$116.1M−1.2%
2021-11-02$0.39$0.40+2.6%$116.6M$115.3M−1.1%
2021-08-03$0.39$0.40+2.6%$112.9M$112.9M0.0%
2021-05-04$0.39$0.40+2.6%$111.9M$113.3M+1.3%
2021-02-09$0.40$0.41+2.5%$111.7M$111.4M−0.2%
2020-11-02$0.39$0.40+2.6%$123.3M$109.6M−11.1%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.106-150.106-220.106-290.107-060.107-130.107-200.107-270.208-030.108-100.108-170.108-240.108-31
Week ofNotionalSharesTrades
2026-08-31$92.6M4,431,24262,730
2026-08-24$88.9M4,139,67758,850
2026-08-17$98.0M4,696,55476,336
2026-08-10$77.7M3,737,76960,876
2026-08-03$186.6M8,621,72983,496
2026-07-27$139.6M6,230,06566,111

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1531.9%
DateShort shareShort volumeTotal volume
2026-10-1531.9%748,9352,344,308
2026-10-1446.2%889,7091,924,437
2026-10-1360.8%1,341,6222,205,805
2026-10-1262.5%1,073,5811,717,240
2026-10-0957.5%1,541,0942,681,047
2026-10-0858.8%2,266,4443,852,886
2026-10-0748.2%1,002,3602,077,591
2026-10-0651.7%1,539,4182,980,429
2026-10-0565.2%1,600,6922,453,875
2026-10-0261.7%945,2411,533,078
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.2Jan-4.7Feb+2.1Mar+2.7Apr-1.1May-0.6Jun+3.8Jul+3.2Aug-0.7Sep-0.2Oct+0.8Nov+4.3Dec
MonthAvg returnUp yearsYears
Jan+1.2%60%20
Feb−4.7%35%20
Mar+2.1%62%21
Apr+2.7%65%20
May−1.1%30%20
Jun−0.6%45%20
Jul+3.8%70%20
Aug+3.2%60%20
Sep−0.7%45%20
Oct−0.2%50%20
Nov+0.8%65%20
Dec+4.3%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1438.0
MFI37.8
ADX34.4
Stochastic %K / %D27.7 / 26.0
Williams %R-66.8
CCI-54
TSI / signal-32.5 / -30.6
Chaikin money flow-0.14
ATR$0.40
Bollinger width14.8%
Volume vs 20-day avg0.72x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$19.50 (−2.7%)
SMA 50$20.25 (−6.3%)
SMA 200$18.97 (+0.1%)
EMA 21$19.40 (−2.2%)
EMA 50$20.00 (−5.1%)
EMA 200$19.42 (−2.3%)
Bollinger upper$20.94 (−9.4%)
Bollinger lower$18.05 (+5.2%)
Parabolic SAR$18.35 (+3.4%)
Open the live chart, 110+ indicators

About Healthpeak Properties, Inc.

Healthpeak Properties, Inc. is an S&P 500 constituent operating as a fully integrated real estate investment trust (REIT). The firm is dedicated to the acquisition, management, and development of premier properties essential for both medical research and the provision of healthcare services.

https://www.healthpeak.com

Key executives

NameTitlePayBorn
Scott BrinkerPresident, Chief Executive Officer & Director$2.9M1977
Adam G. MabryChief Investment Officer$1.4M1985
Kelvin O. MosesChief Financial Officer$1.4M1989
Scott R. BohnChief Development Officer & Head of Lab$1.3M1980
Tracy A. PorterExecutive Vice President, General Counsel & ESG$998,0111978
James A. CroySenior Vice President of Leasing - Outpatient Medical——
Michelle WoodSenior VP, CFO and Controller of Senior Housing & Lab——
R. Justin HillSenior Vice President of Outpatient Medical——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Scott M. Brinker President and Chief Executive Officer2025$825,000$7.2M$2.0M$10.1M
Kelvin O. Moses Chief Financial Officer2025$518,561$2.3M$823,605$3.6M
Thomas M. Klaritch Former Chief Operating Officer2025$450,000$1.3M$0$2.9M
Adam G. Mabry Chief Investment Officer2025$550,000$1.5M$823,605$2.9M
Scott R. Bohn Chief Development Officer and Head of Lab2025$550,000$1.3M$685,897$2.6M
Peter A. Scott Former Chief Financial Officer2025$174,811$2.2M$0$2.4M

Employees

0k20180k20190k20200k20210k20220k20230k20240k2025

Dividends

Ex-dateAmountPaid
2026-12-18$0.10172026-12-30
2026-11-13$0.10172026-11-25
2026-10-19$0.10172026-10-30
2026-09-14$0.10172026-09-25
2026-08-17$0.10172026-08-28
2026-07-20$0.10172026-07-31
2026-06-15$0.10172026-06-26
2026-05-18$0.10172026-05-29

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage34
Intangibles33
Switching costs46
Network effect45
Efficient scale68
Our component scores (0-100) and overall 43.5; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms