Stocks · Real Estate · REIT - Healthcare Facilities
Healthpeak Properties, Inc. DOC
$19.49 +0.26% Close, Oct 2, 2026 · NYSE · Market cap $13.44B
Strong trend
Next earnings report: Nov 2, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $0.35, up 50.7% year over year.
- Net debt is 4.9× EBITDA, a high level of leverage.
- The stock is in an uptrend: above its 200-day average for 104 trading days, with the 50-day average above the 200-day.
PromtFinance scores
Each score is a percentile within the Real Estate sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 47%
- EPS growth (TTM, YoY)Top 28%
- FCF growth (TTM, YoY)Bottom 17%
- Revenue growth, 3-year CAGRTop 25%
- Revenue growth accelerationTop 22%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 13%
- Gross marginBottom 13%
- Operating marginBottom 38%
- Cash conversion (OCF / net income)Top 13%
- Accruals (lower is better)Top 33%
- Net debt / EBITDA (lower is better)Top 38%
- Interest coverTop 40%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 44%
- Free-cash-flow yieldBottom 27%
- EBITDA / enterprise valueTop 26%
- Sales / enterprise valueTop 35%
- P/E vs own 5-year history (lower is better)Bottom 20%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 32%
- 6-month returnTop 14%
- 1-year return vs S&P 500Top 34%
- Distance from 52-week highTop 26%
- Trend checklist (0–4)Top 19%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 25%
- Consecutive EPS beatsTop 32%
- Share of analysts rating BuyBottom 49%
- Upside to consensus price targetBottom 21%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 25%
- Maximum drawdown, 3 yearsTop 39%
- Beta vs S&P 500 (lower is better)Top 37%
- Net debt / EBITDA (lower is better)Top 38%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 2.7% | 5.5% | ↑ |
| EPS growth (YoY) | -20.5% | 50.7% | ↑ |
| Gross margin | 60.4% | 2.5% | ↓ |
| Operating margin | 18.1% | 17.6% | ↓ |
| FCF margin | 44.5% | 10.0% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 5.5% | 2.7% | ↑ | Bottom 47% |
| EPS growth (TTM, YoY) | 50.7% | -20.5% | ↑ | Top 28% |
| Gross margin | 2.5% | 60.4% | ↓ | Bottom 13% |
| Operating margin | 17.6% | 18.1% | ↓ | Bottom 38% |
| Net margin | 8.6% | 5.9% | ↑ | — |
| Free-cash-flow margin | 10.0% | 44.5% | ↓ | — |
| Return on invested capital | 16.1% | — | Top 13% | |
| Revenue growth, 3-year CAGR | 11.0% | — | Top 25% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 3.00×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -4.5%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 0.8%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -72.2 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 4.88×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 1.5×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 6.30%
- Net buyback yield (TTM)
- 0.74%
- Shareholder yield
- 7.04%
- Share count change, 1 year
- -1.0%
- Share count change, 3-year CAGR
- +8.0%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 5, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 2
- Beats in the last 8 reports
- 4 of 8
- Average EPS surprise, last 4
- +41.8%
- Average 2-day reaction, last 8
- -0.5%
- Positive 20 days after report
- 2 of 8
Analysts
- Consensus price target
- $22.22
- Target vs current price
- +14.0%
- Analysts with a rating
- 41
- Share rating Buy or Strong Buy
- 46%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 4, 2026 | +184.2% | -0.1% | -3.4% | -3.8% | — |
| May 5, 2026 | +430.7% | +1.4% | +21.3% | +19.4% | +35.4% |
| Feb 2, 2026 | -64.4% | -1.9% | -2.3% | +2.3% | -6.9% |
| Oct 23, 2025 | -383.3% | -0.4% | -5.6% | -5.4% | -4.2% |
| Jul 24, 2025 | -21.9% | -0.9% | -9.6% | -9.6% | -3.1% |
| Apr 24, 2025 | +11.7% | -0.1% | -5.2% | -10.6% | -2.2% |
| Feb 3, 2025 | -80.0% | -1.4% | -3.9% | -1.3% | -14.0% |
| Oct 24, 2024 | +69.0% | -0.5% | -1.7% | -7.3% | -11.1% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 4, 2026 | $0.08 | $0.03 | +184.2% | $749.8M |
| May 5, 2026 | $0.28 | $0.05 | +430.7% | $738.8M |
| Feb 2, 2026 | $0.16 | $0.45 | -64.4% | $704.8M |
| Oct 23, 2025 | -$0.17 | $0.06 | -383.3% | $690.3M |
| Jul 24, 2025 | $0.05 | $0.06 | -21.9% | $678.5M |
| Apr 24, 2025 | $0.06 | $0.05 | +11.7% | $702.9M |
| Feb 3, 2025 | $0.01 | $0.05 | -80.0% | $698.0M |
| Oct 24, 2024 | $0.12 | $0.07 | +69.0% | $700.4M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 55.7× | 42.5× | 70th | Bottom 44% |
| P/E (forward) | 43.5× | — | — | — |
| EV / EBITDA | 12.4× | — | — | Top 26% |
| EV / Sales | 7.50× | — | — | Top 35% |
| Free-cash-flow yield | 2.20% | — | — | Bottom 27% |
| Earnings yield | 1.80% | — | — | Bottom 44% |
P/E over the past five years
Range 21.2× – 171.3× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +1.6%
- Earnings per share growth (TTM)
- +50.7%
- Change in P/E multiple
- +38.6%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 104
- 50-day average slope (20 days)
- -3.0%
- 200-day average slope (20 days)
- +1.5%
- Distance from 50-day average
- -6.8%
- Distance from 200-day average
- +3.2%
- RSI (14)
- 30.5
- Relative volume
- 0.94×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 19.2%
- Volatility vs own 5-year history
- 6th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.49
- Correlation with S&P 500
- 0.27
- Current drawdown from 1-year high
- -14.6%
- Maximum drawdown, 3 years
- -31.7%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Aug 5, 2021 | Oct 31, 2023 | -58.4% | 563 days | Not yet recovered |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $13.44B
- P/E (TTM)
- 55.7
- EPS, diluted (TTM)
- $0.35
- Revenue (TTM)
- $2.95B
- Dividend yield
- 7.30%
- 52-week range
- $15.70 – $22.95
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $1.90B | $2.06B | $2.18B | $2.70B | $2.82B |
| Gross profit | $1.12B | $1.20B | $1.28B | $1.63B | $634.5M |
| Operating income | $340.3M | $356.6M | $433.9M | $471.2M | $544.1M |
| Net income | $505.5M | $500.4M | $306.0M | $243.1M | $71.3M |
| EPS (diluted) | $0.93 | $0.92 | $0.56 | $0.36 | $0.10 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $700.4M | $698.0M | $702.9M | $694.3M | $705.9M | $719.4M | $753.0M | $771.6M |
| Net income | $85.9M | $4.5M | $42.8M | $31.7M | -$117.1M | $114.0M | $193.6M | $63.2M |
| EPS (diluted) | $0.12 | $0.01 | $0.06 | $0.05 | -$0.17 | $0.16 | $0.28 | $0.08 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $795.2M | $900.3M | $956.2M | $1.07B | $1.25B |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Free cash flow | $795.2M | $900.3M | $956.2M | $1.07B | $1.25B |
| Dividends paid | -$650.1M | -$648.0M | -$657.0M | -$794.8M | -$849.1M |
| Net share buybacks | -$7.8M | $240.3M | -$6.2M | -$190.4M | -$96.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $1.63B
- Total assets
- $21.68B
- Total liabilities
- $12.18B
- Total debt
- $10.32B
- Net debt
- $8.69B
- Shareholders’ equity
- $7.84B
As of Jun 30, 2026 (filed Aug 5, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Nov 13, 2026 | $0.10 | Nov 25, 2026 |
| Oct 19, 2026 | $0.10 | Oct 30, 2026 |
| Sep 14, 2026 | $0.10 | Sep 25, 2026 |
| Aug 17, 2026 | $0.10 | Aug 28, 2026 |
| Jul 20, 2026 | $0.10 | Jul 31, 2026 |
| Jun 15, 2026 | $0.10 | Jun 26, 2026 |
| May 18, 2026 | $0.10 | May 29, 2026 |
| Apr 17, 2026 | $0.10 | Apr 30, 2026 |
Short interest
- Shares sold short
- 25,370,194
- Days to cover
- 6.30
- Change vs previous report
- +4.9%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Nov 1, 2016
- 549-for-500
- Mar 2, 2004
- 2-for-1
- May 21, 1992
- 2-for-1