---
title: Healthpeak Properties (DOC) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/doc
ticker: DOC
as_of: 2026-10-17
sector: Real Estate
industry: REIT - Healthcare Facilities
---
# Healthpeak Properties (DOC)

Healthpeak Properties (DOC) closed at $18.98 on Oct 16, 2026, undervalued by 15% vs its model value of $22.30 (from its own five-year median price to Cash FFO).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $18.98 (Oct 16, 2026) |
| Model value (from its own five-year median price to Cash FFO) | $22.30 |
| Price vs model | undervalued by 15% vs model |
| Range of that model | $19.54 – $27.39 |
| Market value | $13.1B |
| P/E (fiscal 2025) | 189.8 |
| Net margin (fiscal 2025) | 2.5% |
| Free cash flow (fiscal 2025) | $357.0M |
| Dividend yield (trailing twelve months) | 6.43% |
| Beta | 0.99 |
| Cost of capital (WACC) | 7.32% |
| Business classification | Dividend Payer (Low/slowing growth (~7% recent), Moderate margins (12% net margin), Strong dividend yield, Highly cyclical earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Highest dividend yield | #7 | 6.43% | https://sweetvaluelab.com/lists/highest-dividend-yield |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 6.43% |
| Dividends per share, last 12 months | $1.22 |
| Dividends / FFO (fiscal 2025) | 75.1% |
| Raised | — |
| Growth over 3 years | -27.3% a year |
| Latest payment | $0.1017, ex-date Sep 14, 2026, paid Sep 25, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To May 6, 2022 | $3.18 |
| To Nov 6, 2023 | $3.18 |
| To Sep 19, 2025 | $2.35 |
| Trailing twelve months (to Sep 14, 2026) | $1.22 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| P/Cash FFO · own history | primary | $22.30 | $19.54 | $27.39 |
| P/E · peers | cross check | $2.47 | $2.36 | $11.49 |
| P/E · own history | cross check | $10.54 | $7.92 | $14.22 |
| PEG | sanity check | $11.54 | $11.54 | $11.54 |
| EV/EBITDA · peers | cross check | $27.01 | $24.85 | $39.84 |
| EV/Revenue · peers | cross check | $0.00 | $0.00 | $0.00 |
| Dividend discount | cross check | $16.75 | $12.95 | $26.04 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| May 29, 2026 | Thomas John T | Director | Grant / award | 1,385 | $21,414.2 |
| May 29, 2026 | Thomas John T | Director | Tax withholding | 78 | $1,493.7 |
| May 29, 2026 | Patadia Ankit B. | EVP and Treasurer | Grant / award | 1,358 | $20,996.7 |
| May 29, 2026 | Patadia Ankit B. | EVP and Treasurer | Tax withholding | 94 | $1,800.1 |
| May 29, 2026 | Moses Kelvin O | Chief Financial Officer | Grant / award | 937 | $14,487.4 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Aug 5, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/765880/000162828026053373/peak-20260630.htm |
| Aug 4, 2026 | 8-K | 2.02 Results of Operations (Earnings); 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/765880/000162828026052608/peak-20260804.htm |
| May 6, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/765880/000162828026031287/peak-20260331.htm |
| May 5, 2026 | 8-K | 2.02 Results of Operations (Earnings); 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/765880/000162828026030561/peak-20260505.htm |
| May 4, 2026 | 8-K | 5.07 Submission of Matters to a Shareholder Vote | https://www.sec.gov/Archives/edgar/data/765880/000076588026000002/peak-20260430.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Christopher Davis | 2026-06-30 | 631,026 | $13.5M |

1 tracked managers in all.

## About

Healthpeak Properties, Inc. is an S&P 500 constituent operating as a fully integrated real estate investment trust (REIT). The firm is dedicated to the acquisition, management, and development of premier properties essential for both medical research and the provision of healthcare services.

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Source: https://sweetvaluelab.com/stocks/doc (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.