Healthpeak Properties (DOC)
Real Estate · Healthcare Real Estate Investment Trust (Medical Office, Lab, Senior Housing)
A healthcare-focused REIT owning and operating 689 outpatient medical, lab, and senior housing properties across the United States.
What Healthpeak Properties does
Healthpeak Properties is a self-administered REIT that owns, operates, and develops healthcare real estate assets across three core segments: outpatient medical buildings (507 properties), lab facilities (145 properties), and senior housing communities (34 properties). The company operates through an UPREIT structure and manages its portfolio for long-term risk-adjusted returns. Following its 2024 merger with Physicians Realty Trust, Healthpeak expanded its outpatient medical footprint and is preparing to spin off its senior housing portfolio through an anticipated Janus Living initial public offering.
Themes: ["Healthcare real estate","Medical office buildings","Senior housing","REIT dividends","Healthcare infrastructure","Outpatient care facilities"]
Fundamentals
- Price$21.57 as of 2026-07-09 close
- Market cap$15.2B as of 2026-07-10
- 1-year return+19.5% as of 2026-07-09 close
- P/E68.59 as of 2026-07-10
- Net margin+7.7% as of 2026-07-10
- Gross margin+58.9% as of 2026-07-10
- ROE+2.9% as of 2026-07-10
- Debt / equity1.33 as of 2026-07-10
- Revenue growth (YoY)+2.7% as of 2026-07-10
- Revenue CAGR (3y)+11.0% SEC XBRL
- Beta1.00 as of 2026-07-10
Dividend: yield +5.6%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Senior housing market sensitivity and operational challenges in RIDEA structures, particularly related to revenue recognition and occupancy rates","Significant leverage with total debt exceeding $10 billion, creating interest rate and refinancing risks","Planned Janus Living spin-off dependent on market conditions, regulatory approvals, and SEC review completion, creating uncertainty in capital structure and future ownership"]
Competitors & peers
- Ventas (VTR)
- Welltower (WELL)
- Medical Properties Trust (MPW)
- Healthcare Trust, Inc. (HTIA)
- Physicians Realty Trust (DOC) — note: merged into Healthpeak in March 2024
- Sabra Health Care REIT (SABR)
- LTC Properties (LTC)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.