Healthpeak Properties Inc DOC

Morningstar Rating
$20.43 −0.16 (0.77%)
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Company Report

Healthpeak's Life Science and Medical Office Portfolios Should Produce Solid Growth Over Long Term

The top healthcare real estate stands to benefit disproportionately from the Affordable Care Act. With an increased focus on higher-quality care being performed in lower-cost settings, the best owners and operators in the industry, which can provide better outcomes while driving greater efficiencies, should see demand funneled to them from the best healthcare systems. Additionally, the baby boomer generation is starting to enter its senior years, and the 80-plus population, an age range that spends more than 4 times on healthcare per capita than the national average, should almost double in size over the next 10 years. In the long term, the best healthcare companies are well-positioned to capitalize on these industry tailwinds.

Price vs Fair Value

DOC is trading at a 178% premium.
Price
$20.69
Fair Value
$14.00
Uncertainty
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1-Star Price
$39.70
5-Star Price
$31.50
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Healthpeak enjoys industry tailwinds, including an aging population and regulatory changes that expand the pool of participants in the healthcare system.

Bears

Healthpeak's new management team doesn't have the same operational experience or relationships as its peers, which could make it difficult to achieve the same internal growth.

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Trading Information

Previous Close Price
$20.59
Day Range
$20.2520.74
52-Week Range
$15.7020.82
Bid/Ask
$20.30 / $20.60
Shares Outstanding
689.42M
Market Cap
$14.08B
Volume/Avg
9M / 9M

Key Statistics

Price/Earnings (Normalized)
83.67
Price/Sales
5.01
Dividend Yield (Trailing)
5.96%
Dividend Yield (Forward)
5.96%
Total Yield
5.90%

Company Profile

Healthpeak owns a diversified healthcare portfolio of approximately 700 in-place properties spread across mainly medical office and life science assets, plus a handful of senior housing, hospital, and skilled nursing/post-acute care assets, as well.
Sector
Real Estate
Industry
REIT - Healthcare Facilities
Stock Style Box
Small Value
Total Number of Employees
411

Competitors

Valuation

Metric
DOC
WELL
VTR
Price/Earnings (Normalized)
83.67103.63204.42
Price/Book Value
1.843.453.13
Price/Sales
5.0112.906.52
Price/Cash Flow
12.9144.6624.01
Price/Earnings
DOC
WELL
VTR

Financial Strength

Metric
DOC
WELL
VTR
Quick Ratio
0.784.280.42
Current Ratio
0.844.330.49
Interest Coverage
2.330.521.41
Quick Ratio
DOC
WELL
VTR

Profitability

Metric
DOC
WELL
VTR
Return on Assets (Normalized)
0.88%3.87%1.17%
Return on Equity (Normalized)
2.28%6.04%2.59%
Return on Invested Capital (Normalized)
2.68%4.96%3.18%
Return on Assets
DOC
WELL
VTR

REIT - Healthcare Facilities Industry Comparables

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CTRE
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HR
Stcm$7B
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AEDFF
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SBRA
Wyq$5B

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