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Healthpeak Properties Inc PEAK

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Morningstar’s Analysis

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Senior Housing Industry Should See Decade of Strong Growth Once Pandemic Ends

Kevin Brown Equity Analyst

Analyst Note

| Kevin Brown |

Occupancy for the senior housing industry has come under significant pressure due to the coronavirus pandemic. The senior population is among the most at risk in the pandemic, so any case of the virus among residents or staff will cause an entire facility to shut down. A quarantined facility can't accept new residents, and the relatively high turnover rate of residents leads to a rapid occupancy decline if the facility is forced to stop accepting new residents for even a short time. The recent development of a vaccine is promising news, but it will take several quarters to fully roll out any vaccine to the entire senior population. Therefore, the senior housing industry is likely to experience occupancy declines through mid- to late 2021.

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Company Profile

Business Description

Healthpeak owns a diversified healthcare portfolio of approximately 600 in-place properties spread across senior housing, medical office, life science, hospital, and skilled nursing/post-acute care.

Contact
1920 Main Street, Suite 1200
Irvine, CA, 92614
T +1 949 407-0700
Sector Real Estate
Industry REIT - Healthcare Facilities
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Hard Assets
Employees 204

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