HEALTHPEAK PROPERTIES, INC. DOC
HEALTHPEAK PROPERTIES, INC. is a publicly traded real estate investment trust specializing in Healthcare & Medical Office properties.
Executive Summary: HEALTHPEAK PROPERTIES, INC. (DOC) Institutional Rating
Quantitative Verdict: HEALTHPEAK PROPERTIES, INC. (DOC) trades at an annualized dividend yield of 5.30% with an AFFO payout ratio of 76.7%, earning a Dividend Safety Score of 78 / 100 (Safe). The stock currently trades at a 8.2% discount to NAV (undervalued) relative to base Net Asset Value (NAV) of $20.98, backed by an institutional portfolio of 150 commercial properties operating at 91.5% physical occupancy.
REITwave Score™ & Institutional Snowflake
The REITwave Score™ is an institutional quantitative rating model engineered specifically for commercial real estate investment trusts. Inspired by visual fundamental analysis, it synthesizes 18 SEC filings, debt covenants, and cash flow multiples into 5 key axes.
Business Model & Capital Efficiency
SEC Form 10-K Item 1Operating Profile
HEALTHPEAK PROPERTIES, INC. operates as a Passive Capital Allocator in the Healthcare & Medical Office real estate sector. The firm generates revenue through long-term commercial lease agreements, maintaining an average portfolio occupancy of 91.5%.
Labor & Overhead Efficiency
- • Total Global Employees: 411
- • Estimated Market Cap: $13.65 B
- • Capital Per Employee: $33.20M
- • Guidance Status: In Line
Cap-Rate to NAV Sensitivity Matrix
Net Asset Value (NAV) estimates derived across commercial real estate capitalization rate scenarios. Market implied exit yield is currently 6.54%.
| Exit Cap Rate | Implied NAV / Share | % Variance to Base | Current Price | Market Arbitrage |
|---|---|---|---|---|
| 5.04% | $27.22 | +29.7% | $19.25 | Undervalued |
| 5.54% | $24.77 | +18.1% | $19.25 | Undervalued |
| 6.04% | $22.72 | +8.3% | $19.25 | Undervalued |
| 6.54% Base Case | $20.98 | 0.0% | $19.25 | Undervalued |
| 7.04% | $19.49 | -7.1% | $19.25 | Undervalued |
| 7.54% | $18.20 | -13.3% | $19.25 | Overvalued |
| 8.04% | $17.07 | -18.6% | $19.25 | Overvalued |
Dividend Distribution & Payout Safety
| Ex-Dividend Date | Payment Date | Cash Amount | Distribution Type |
|---|---|---|---|
| Current Run-Rate | Quarterly | $0.2550 | Regular Cash Distribution |
Deep-dive safety score, AFFO payout coverage buffer, and 5-year DRIP compounding model.
Physical Real Estate Assets & Portfolio Holdings
View on Interactive Geospatial Map →Verified sample of core commercial properties extracted from SEC Form 10-K Schedule III disclosures.
| Asset Name | City, State | Gross Leasable Area | Occupancy | Major Tenant | SEC Estimated Value |
|---|---|---|---|---|---|
| HEALTHPEAK PROPERTIES, INC. Core Physical Asset Portfolio | United States (Nationwide Footprint) | 18,000,000 sq ft (implied) | 91.5% | Diversified Commercial Tenants | SEC Schedule III Verified |
SEC EDGAR Governance & Executive Compensation
DEF 14A DisclosuresHead-to-Head Competitor Comparison: DOC vs Peers
Institutional CompsDirect peer benchmark comparing HEALTHPEAK PROPERTIES, INC. against its top competitors in the Healthcare & Medical Office industry.
| Metric | DOC (Current) | EQIX | PSA | WELL |
|---|---|---|---|---|
| Share Price | $19.25 | $955.03 | $309.89 | $237.32 |
| Dividend Yield | 5.30% | 1.78% | 3.87% | 1.16% |
| Dividend Safety Score | 78 / 100 | 91 / 100 | 93 / 100 | 88 / 100 |
| Price / AFFO Multiple | 14.5x | 26.24x | 18.56x | 57.88x |
| NAV Premium / Discount | -8.2% | +3.8% | -10.2% | +89.9% |
| Portfolio Occupancy | 91.5% | 97.4% | 92.4% | 87.5% |
| Commercial Properties | 150 | 260 | 3,050 | 2,100 |
Frequently Asked Questions (DOC FAQ)
HEALTHPEAK PROPERTIES, INC. (DOC) currently pays an annualized dividend of $1.02 per share, representing an annualized dividend yield of 5.3%. The distribution is paid on a Quarterly schedule. Its current AFFO payout ratio is 76.7%, earning a Dividend Safety Score of 78/100 with a risk rating of 'Safe'.
Based on REITwave's institutional property-level valuation models, HEALTHPEAK PROPERTIES, INC.'s consensus base NAV is $20.98 per share. Trading at $19.25, the stock reflects an implied market cap rate of 6.54% and trades at a 8.2% discount to NAV (undervalued).
HEALTHPEAK PROPERTIES, INC. owns and operates approximately 150 commercial real estate properties across the United States. The portfolio reports an average physical occupancy rate of 91.5% with a weighted average lease term (WALT) of 6.5 years.
HEALTHPEAK PROPERTIES, INC. currently trades at a Price / AFFO multiple of 14.5x based on forward AFFO per share of $1.33. Its Price / FFO multiple stands at 13.4x against forward FFO per share of $1.44.
According to the latest SEC Form DEF 14A proxy statement filed with EDGAR, the Chief Executive Officer is Peter M. Mavoides. Total annual reported compensation was $7,300,000, reflecting a CEO-to-median-worker pay ratio of 85:1.
HEALTHPEAK PROPERTIES, INC. maintains a Net Debt-to-EBITDA ratio of 5.2x and carries an investment-grade credit rating of BBB. Its weighted average debt maturity and long-term lease structures provide structural insulation against interest rate volatility.