Valued at a market cap of $11.6 billion, Healthpeak Properties, Inc. (DOC) is a publicly traded real estate investment trust (REIT) headquartered in Denver, Colorado. The company owns, develops, and manages a diversified portfolio of properties, including life science facilities, medical offices, and senior housing communities.
Companies worth $10 billion or more are typically classified as “large-cap stocks,” and DOC fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the healthcare REIT industry. The company focuses on high-quality, mission-critical healthcare assets that benefit from long-term leases and stable cash flows.
However, this healthcare facilities REIT has slipped 21.9% from its 52-week high of $21.28, reached on March 10. Shares of DOC have declined 8.1% over the past three months, underperforming the Dow Jones Industrial Average’s ($DOWI) 5.7% rise over the same time frame.
In the longer term, DOC has fallen 20.6% over the past 52 weeks, underperforming DOWI’s 10.4% rise over the same time frame. Moreover, over the past six months, shares of DOC are down 5%, compared to DOWI’s 12.8% uptick.
DOC has been trading below its 200-day moving average since late October, and has recently dipped below its 50-day moving average.
On Oct. 23, Healthpeak delivered third-quarter results, and its shares rose 1.2% in the following trading session. It reported total revenue of approximately $705.9 million, slightly above expectations, supported by stable outpatient medical and lab leasing activity. The company generated Nareit FFO of about $0.45 per share and Adjusted FFO of $0.46, in line with guidance. However, Healthpeak recorded a net loss of roughly $0.17 per share, largely due to equity losses from unconsolidated ventures, which drove diluted EPS below forecasts. Occupancy trends were mixed, with outpatient medical demand rising and modest cash re‑leasing spreads, while lab occupancy remained under pressure.
Healthpeak Properties’ underperformance looks pronounced when compared to its rival, Omega Healthcare Investors, Inc.’s (OHI) 13.3% rise over the past 52 weeks and is up 18.8% over the past six months.
Despite DOC’s recent underperformance, analysts remain moderately optimistic about its prospects. The stock has a consensus rating of "Moderate Buy” from the 20 analysts covering it, and the mean price target of $20.55 suggests a 23.6% premium to its current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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