DO
Healthpeak Properties Inc
DOC—
Healthpeak Properties Inc AI Insights
Informational only. Not investment advice.Snapshot
- FCF of 1.2B TTM equals 100% of operating cash flow - zero capex drag enables full dividend coverage at 6.8% yield[Free Cash Flow TTM]
- Debt/Equity of 1.24x with 9.4B total debt vs 91M cash - interest expense (295M TTM) consumes 57% of operating income[Debt to Equity]
- Net income negative (-38M TTM) despite 521M operating income - 176M equity investment gains masking underlying weakness[Net Income TTM]
Watch Triggers
- Interest Expense TTM: Exceeds 320M (>60% of operating income) — Signals refinancing at higher rates eroding dividend coverage
- Free Cash Flow TTM: Falls below 850M (dividend payout) — Would force dividend cut or debt-funded payout
- Debt to Equity: Rises above 1.5x — Approaching levels that constrain refinancing options
Bull Case
FCF yield of 11% (1.2B FCF / 11.2B market cap) with 100% FCF conversion supports 6.8% dividend yield sustainably
Free Cash Flow TTMDividends Paid Per Share TTM
P/S of 4.0x below industry median 4.5x; P/CF of 9.0x vs median 12.4x - discount for healthcare REIT quality
PS RatioPCF Ratio
Bear Case
Net debt of 9B is 4.6x market cap with only 91M cash - refinancing 368M current debt at higher rates compresses FFO
Net DebtCurrent DebtCash and Equivalents
Negative net income (-38M TTM) and negative ROE (-0.5%) despite GAAP operating profit - structural earnings gap
Net Income TTMROE TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
40%
Leverage DOC's top insights and create a custom strategy based on them in seconds. Our AI editor does it all — in one click.
Forward Thesis
Interest rate sensitivity will dominate returns - 295M annual interest on 9.4B debt creates binary outcome
1-3yhigh
- 9.4B debt at current rates vs 91M cash
- Interest expense is 57% of operating income
- 368M current debt maturing near-term
Interest Expense TTM: 295MOperating Income TTM: 521MCurrent Debt: 368M
Valuation Context
Caveats
Public Strategies Rankings
See how Healthpeak Properties Inc ranks across different investment strategies.
Leverage DOC's top insights and create a custom strategy in seconds. Our AI editor does it all — in one click.
DOC Fundamentals
Real Estate and Rental and Leasing → Real Estate
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$12.39B | — | ||
$21.73B | — | ||
0.00 | — | ||
$2.8B | +9.6% | — | |
$-0.02 | — | ||
18.6% | +0.3% | — | |
-1.36% | -13.5% | — | |
$1.24B | +21.9% | — | |
0.00 | -4.6% | — | |
Beta 5Y (Monthly) | unknown | — |
DOC Dividend History
113 dividends
2026
$0.305003/17/26$0.1017
02/13/26$0.1017
01/16/26$0.1017
2025
$1.220012/19/25$0.1017
11/14/25$0.1017
10/17/25$0.1017
09/19/25$0.1017
08/18/25$0.1017
07/18/25$0.1017
06/16/25$0.1017
05/19/25$0.1017
04/17/25$0.1017
02/14/25$0.3050
2024
$1.200011/04/24$0.3000
08/05/24$0.3000
05/03/24$0.3000
02/13/24$0.3000
2023
$1.200011/06/23$0.3000
08/04/23$0.3000
05/05/23$0.3000
02/08/23$0.3000
2022
$1.200011/04/22$0.3000
08/05/22$0.3000
05/06/22$0.3000
02/10/22$0.3000
2021
$1.200011/05/21$0.3000
08/06/21$0.3000
05/07/21$0.3000
02/19/21$0.3000
2020
$1.480011/10/20$0.3700
08/13/20$0.3700
05/07/20$0.3700
02/14/20$0.3700
2019
$1.480011/01/19$0.3700
08/02/19$0.3700
05/03/19$0.3700
02/15/19$0.3700
2018
$1.480011/02/18$0.3700
08/03/18$0.3700
05/04/18$0.3700
02/14/18$0.3700
2017
$1.480011/03/17$0.3700
08/03/17$0.3700
05/04/17$0.3700
02/13/17$0.3700
2016
$2.095011/08/16$0.3700
08/04/16$0.5750
05/05/16$0.5750
02/04/16$0.5750
2015
$2.260011/05/15$0.5650
08/06/15$0.5650
05/07/15$0.5650
02/05/15$0.5650
2014
$2.180011/06/14$0.5450
08/07/14$0.5450
05/08/14$0.5450
02/06/14$0.5450
2013
$2.100010/31/13$0.5250
08/01/13$0.5250
05/02/13$0.5250
01/31/13$0.5250
2012
$2.000011/01/12$0.5000
08/02/12$0.5000
05/03/12$0.5000
02/02/12$0.5000
2011
$1.920011/03/11$0.4800
08/04/11$0.4800
05/05/11$0.4800
02/08/11$0.4800
2010
$1.860011/04/10$0.4650
08/05/10$0.4650
04/29/10$0.4650
02/09/10$0.4650
2009
$1.840011/05/09$0.4600
08/04/09$0.4600
05/01/09$0.4600
02/05/09$0.4600
2008
$1.820011/06/08$0.4550
08/07/08$0.4550
05/01/08$0.4550
02/05/08$0.4550
2007
$1.780011/01/07$0.4450
08/02/07$0.4450
05/03/07$0.4450
02/01/07$0.4450
2006
$1.700011/01/06$0.4250
08/03/06$0.4250
05/04/06$0.4250
02/09/06$0.4250
2005
$1.680011/03/05$0.4200
08/04/05$0.4200
05/03/05$0.4200
02/03/05$0.4200
2004
$1.670011/04/04$0.4175
08/02/04$0.4175
05/04/04$0.4175
02/02/04$0.4175
2003
$1.660010/31/03$0.4150
07/31/03$0.4150
05/01/03$0.4150
02/04/03$0.4150
2002
$1.630011/06/02$0.4150
08/01/02$0.4100
05/02/02$0.4050
01/31/02$0.4000
2001
$1.550010/31/01$0.3950
08/01/01$0.3900
05/01/01$0.3850
02/01/01$0.3800
2000
$1.470011/01/00$0.3750
08/01/00$0.3700
05/01/00$0.3650
02/01/00$0.3600
DOC Stock Splits
1 stock split
03/02/040.5:1 split
DOC SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/24/25 | 09/30/25 | 10-Q | |
07/25/25 | 06/30/25 | 10-Q | |
04/25/25 | 03/31/25 | 10-Q | |
02/04/25 | 12/31/24 | Unknown | |
10/25/24 | 09/30/24 | 10-Q | |
07/26/24 | 06/30/24 | 10-Q | |
04/26/24 | 03/31/24 | 10-Q | |
02/09/24 | 12/31/23 | 10-K | |
10/30/23 | 09/30/23 | 10-Q | |
07/28/23 | 06/30/23 | 10-Q | |
04/28/23 | 03/31/23 | 10-Q | |
02/08/23 | 12/31/22 | 10-K | |
11/02/22 | 09/30/22 | 10-Q | |
08/03/22 | 06/30/22 | 10-Q | |
05/04/22 | 03/31/22 | 10-Q | |
02/09/22 | 12/31/21 | 10-K | |
11/03/21 | 09/30/21 | 10-Q | |
08/04/21 | 06/30/21 | 10-Q | |
05/05/21 | 03/31/21 | 10-Q | |
02/10/21 | 12/31/20 | 10-K | |
11/03/20 | 09/30/20 | 10-Q | |
08/05/20 | 06/30/20 | 10-Q | |
05/06/20 | 03/31/20 | 10-Q | |
02/13/20 | 12/31/19 | 10-K | |
10/31/19 | 09/30/19 | 10-Q | |
08/01/19 | 06/30/19 | 10-Q | |
05/02/19 | 03/31/19 | 10-Q | |
02/14/19 | 12/31/18 | 10-K | |
10/31/18 | 09/30/18 | 10-Q | |
08/02/18 | 06/30/18 | 10-Q | |
05/03/18 | 03/31/18 | 10-Q | |
02/13/18 | 12/31/17 | 10-K | |
11/02/17 | 09/30/17 | 10-Q | |
08/01/17 | 06/30/17 | 10-Q | |
05/02/17 | 03/31/17 | 10-Q | |
02/13/17 | 12/31/16 | 10-K | |
11/01/16 | 09/30/16 | 10-Q | |
08/09/16 | 06/30/16 | 10-Q | |
05/09/16 | 03/31/16 | 10-Q | |
02/09/16 | 12/31/15 | 10-K | |
11/03/15 | 09/30/15 | 10-Q | |
08/04/15 | 06/30/15 | 10-Q | |
05/05/15 | 03/31/15 | 10-Q | |
02/10/15 | 12/31/14 | 10-K | |
11/04/14 | 09/30/14 | 10-Q | |
08/05/14 | 06/30/14 | 10-Q | |
05/06/14 | 03/31/14 | 10-Q | |
02/11/14 | 12/31/13 | 10-K | |
11/04/13 | 09/30/13 | 10-Q | |
08/02/13 | 06/30/13 | 10-Q | |
05/02/13 | 03/31/13 | 10-Q | |
02/12/13 | 12/31/12 | 10-K | |
10/30/12 | 09/30/12 | 10-Q | |
07/31/12 | 06/30/12 | 10-Q | |
05/01/12 | 03/31/12 | 10-Q | |
02/14/12 | 12/31/11 | 10-K | |
10/31/11 | 09/30/11 | 10-Q | |
08/02/11 | 06/30/11 | 10-Q | |
05/03/11 | 03/31/11 | 10-Q | |
02/15/11 | 12/31/10 | 10-K | |
11/02/10 | 09/30/10 | 10-Q | |
08/03/10 | 06/30/10 | 10-Q | |
04/27/10 | 03/31/10 | 10-Q | |
02/12/10 | 12/31/09 | 10-K | |
11/03/09 | 09/30/09 | 10-Q | |
08/04/09 | 06/30/09 | 10-Q | |
04/28/09 | 03/31/09 | 10-Q | |
02/27/09 | 12/31/08 | 10-K | |
11/04/08 | 09/30/08 | 10-Q | |
08/05/08 | 06/30/08 | 10-Q | |
04/29/08 | 03/31/08 | 10-Q | |
02/12/08 | 12/31/07 | 10-K | |
10/30/07 | 09/30/07 | 10-Q | |
08/06/07 | 06/30/07 | 10-Q | |
05/01/07 | 03/31/07 | 10-Q | |
02/13/07 | 12/31/06 | 10-K | |
10/30/06 | 09/30/06 | 10-Q | |
08/09/06 | 06/30/06 | 10-Q | |
05/02/06 | 03/31/06 | 10-Q | |
02/14/06 | 12/31/05 | 10-K | |
11/01/05 | 09/30/05 | 10-Q | |
08/02/05 | 06/30/05 | 10-Q | |
05/03/05 | 03/31/05 | 10-Q | |
03/15/05 | 12/31/04 | 10-K | |
11/08/04 | 09/30/04 | 10-Q | |
08/04/04 | 06/30/04 | 10-Q | |
05/10/04 | 03/31/04 | 10-Q | |
03/15/04 | 12/31/03 | 10-K | |
11/12/03 | 09/30/03 | 10-Q | |
08/12/03 | 06/30/03 | 10-Q | |
05/15/03 | 03/31/03 | 10-Q | |
02/20/03 | 12/31/02 | 10-K | |
11/14/02 | 09/30/02 | 10-Q | |
08/12/02 | 06/30/02 | 10-Q | |
05/08/02 | 03/31/02 | 10-Q | |
03/18/02 | 12/31/01 | 10-K405 | |
11/13/01 | 09/30/01 | 10-Q | |
08/03/01 | 06/30/01 | 10-Q | |
05/04/01 | 03/31/01 | 10-Q | |
03/09/01 | 12/31/00 | 10-K | |
11/13/00 | 09/30/00 | 10-Q | |
08/09/00 | 06/30/00 | 10-Q | |
05/11/00 | 03/31/00 | 10-Q |