Based in Denver, Colorado, Healthpeak Properties, Inc. (DOC) is a prominent real estate investment trust (REIT) focused on healthcare facilities. The company specializes in owning, developing, and managing high-quality healthcare real estate, including senior housing, medical office buildings, and life science properties. With a market cap of $14.8 billion, Healthpeak Properties is dedicated to advancing healthcare access by providing essential real estate solutions to medical professionals and institutions. The company is set to release its Q4 earnings after the market closes on Monday, Feb. 3.
Ahead of the event, analysts expect Healthpeak to report a profit of $0.45 per share on a diluted basis, down 2.2% from $0.46 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s FFO estimates in its last four quarterly reports. In fiscal Q3, the company reported an FFO of $0.45, which topped the consensus estimates by 2.3%.
For the full year, analysts expect the company to report an FFO of $1.81, up 1.7% from $1.78 in fiscal 2023. Its FFO is expected to rise 2.8% year over year to $1.86 in fiscal 2025.
Healthpeak Properties' shares have gained 6.9% over the past year, trailing the S&P 500 Index's ($SPX) 25% gain and the Real Estate Select Sector SPDR Fund’s (XLRE) 8.1% gains during the same period.
Healthpeak Properties has underperformed relative to the broader market and its peers, primarily due to stock volatility, slower growth in select segments, and challenges amid ongoing strategic transitions. Following the release of its Q3 earnings results on Oct. 24, the company's stock dropped 3.1%. Despite this, Healthpeak posted revenues of $700.4 million, surpassing analyst expectations of $689 million and reflecting a 25.9% year-over-year increase.
Key highlights for the quarter include a projected $50 million increase in merger-related synergies, driven by the internalization of property management, and continued momentum in its life science segment with 733,000 square feet of lease executions, underscored by significant deals at Gateway, Portside, and Vantage campuses.
Analysts’ consensus opinion on DOC stock is moderately bullish, with a “Moderate Buy” rating overall. Out of 19 analysts covering the stock, 12 advise a “Strong Buy” rating, two suggest a “Moderate Buy” rating, and five give a “Hold.” DOC’s average analyst price target is $24.97, indicating a potential upside of 18.2% from the current levels.
