Healthpeak Properties, Inc. (DOC)

Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates, and develops high-quality real estate for healthcare discovery and delivery. Healthpeak Properties, Inc. is based in Denver, Colorado. Healthpeak Properties, Inc. was incorporated in 1985 in Maryland.

Symbol: DOC
Exchange: NYSE
Sector: Real Estate
Industry: REIT - Healthcare Facilities
Market cap: $13.44B
52 week range: 15.7 - 22.95

Valuation

Share price: $19.49 (close of 2026-10-02)
P/E (TTM): 55.69x
Price to book: 1.42x
Price to free cash flow: 39.98x
Enterprise value: $22.13B
Book value per share: $13.74

Price performance

Period	Change
1 day	+0.26%
5 days	-4.04%
1 month	-7.32%
3 months	-10.96%
6 months	+17.98%
Year to date	+21.21%
1 year	+1.62%
3 years	+9.43%
5 years	-42.49%
10 years	-43.61%
All time	+302.69%

Members of Congress who disclosed DOC trades

Gilbert Ray Cisneros · Lisa McClain · Alan Armstrong · Julie Johnson · Robert Bresnahan

Super investors holding DOC

Ken Griffin (Citadel) · Christopher Davis (Davis Selected Advisers)

Profitability and growth

Return on equity: 0.88%
Return on assets: 0.35%
Net margin: 11.81%
EBITDA margin: 239.19%
Revenue growth: 6.25%
Net income growth: -70.66%
Free cash flow growth: 6.97%

Cash flow and balance sheet

Free cash flow yield (TTM): 2.50%
Net debt to EBITDA: 4.61x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $603.99M
EBITDA: $1.44B
Net income: $71.35M
Earnings per share: $0.10
Interest expense: $305.18M
Shares outstanding: 696.03M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$603.99M	-	$71.35M	$0.10
2024-12-31	$568.48M	-$506.39M	$243.14M	$0.36
2023-12-31	$527.42M	-$374.64M	$306.01M	$0.56
2022-12-31	$494.94M	-$368.06M	$500.45M	$0.92
2021-12-31	$471.32M	-$301.95M	$505.54M	$0.93
2020-12-31	$436.49M	-$346.05M	$413.56M	$0.77
2019-12-31	$144.33M	-$260.92M	$45.53M	$0.09
2018-12-31	$144.22M	-$234.44M	$1.06B	$2.25
2017-12-31	$524.27M	-$141.98M	$414.17M	$0.88
2016-12-31	$2.13B	$1.39B	$627.75M	$1.34

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity
2025-12-31	-	11.81%	0.88%
2024-12-31	-89.08%	42.77%	2.69%
2023-12-31	-71.03%	58.02%	4.45%
2022-12-31	-74.36%	101.11%	6.97%
2021-12-31	-64.06%	107.26%	7.16%
2020-12-31	-79.28%	94.75%	5.67%
2019-12-31	-180.78%	31.55%	0.68%
2018-12-31	-162.56%	735.76%	16.29%
2017-12-31	-27.08%	79.00%	7.40%
2016-12-31	65.32%	29.48%	10.57%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$467.46M	$9.85B
2024-12-31	$119.82M	$8.72B
2023-12-31	$117.64M	$6.88B
2022-12-31	$72.03M	$6.50B
2021-12-31	$158.29M	$6.17B
2020-12-31	$44.23M	$6.62B
2019-12-31	$80.40M	$6.30B
2018-12-31	$53.98M	$5.48B
2017-12-31	$55.31M	$7.79B
2016-12-31	$94.73M	$9.10B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$357.01M	$14.41M
2024-12-31	$333.73M	$15.54M
2023-12-31	$181.68M	$14.48M
2022-12-31	-$61.73M	$26.46M
2021-12-31	$35.53M	$18.20M
2020-12-31	-$30.46M	$17.37M
2019-12-31	$168.80M	$18.16M
2018-12-31	$287.83M	$16.56M
2017-12-31	$375.26M	$14.26M
2016-12-31	$755.23M	$22.88M

Dividend history

Most recent payment: 2026-09-14
Paid in the last twelve months: $1.22

Payment date	Dividend per share
2026-09-14	$0.10
2026-08-17	$0.10
2026-07-20	$0.10
2026-06-15	$0.10
2026-05-18	$0.10
2026-04-17	$0.10
2026-03-17	$0.10
2026-02-13	$0.10

Investor relations

Next earnings report

Next confirmed report: 2026-10-22
Consensus EPS estimate: $0.43

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-08-04	Jun/2026	$0.44
2026-05-05	Mar/2026	$0.43
2026-02-02	Dec/2025	$0.45
2025-10-23	Sep/2025	$0.45
2025-07-24	Jun/2025	$0.46
2025-04-24	Mar/2025	$0.46
2025-02-19	-	-
2025-02-03	Dec/2024	$0.45

Filings and sources

Company website: healthpeak.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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