Healthpeak Properties Inc Stock Research

PEAK Alerts

Big jump in Earnings (Y/Y)

PEAK Stock Price

PEAK RSI Chart

PEAK Valuation

Market Cap

15.1B

Price/Earnings (Trailing)

27.59

Price/Sales (Trailing)

7.24

EV/EBITDA

10.3

Price/Free Cashflow

17.17

PEAK Price/Sales (Trailing)

PEAK Profitability

EBT Margin

24.60%

Return on Equity

7.52%

Return on Assets

3.17%

Free Cashflow Yield

5.82%

PEAK Fundamentals

PEAK Revenue

Revenue (TTM)

2.1B

Revenue Y/Y

5.48%

Revenue Q/Q

0.23%

PEAK Earnings

Earnings (TTM)

547.8M

Earnings Y/Y

66.1%

Earnings Q/Q

1.7K%

Price Action

Last 7 days

-3.5%

Last 30 days

-1.5%

Last 90 days

-18.9%

Trailing 12 Months

-36.7%

PEAK Financial Health

Debt/Equity

0.99

Debt/Cashflow

0.14

PEAK Investor Care

Dividend Yield

4.34%

Dividend/Share (TTM)

1.2

Shares Dilution (1Y)

1.42%

Diluted EPS (TTM)

1.01

Peers (Alternatives to Healthpeak Properties)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
PSA	50.3B	4.3B	-0.67%	-7.84%	11.56	11.69	18.80%	113.99%
DLR	28.8B	4.9B	1.25%	-24.57%	77.2	5.88	9.82%	-73.28%
EQR	22.6B	2.0B	-1.01%	-20.50%	24.61	11.43	-20.93%	-31.79%
ARE	19.1B	2.7B	-6.88%	-30.41%	25.48	7.14	18.91%	81.13%
KIM	13.2B	1.7B	-4.07%	-25.83%	104.43	7.61	15.49%	-81.09%
MID-CAP
FRT	7.1B	1.1B	-8.04%	-21.25%	18.25	6.51	10.19%	46.60%
KRG	4.3B	814.4M	-2.26%	-4.29%	465.69	5.23	63.41%	107.43%
VNO	2.6B	1.8B	-10.72%	-60.29%	-6.95	1.42	9.23%	-286.27%
MAC	2.0B	857.9M	-0.32%	-17.87%	-23.05	2.35	-1.75%	-315.36%
SMALL-CAP
SKT	2.1B	421.5M	12.31%	19.76%	23.93	5.05	1.34%	437.34%
SLG	1.4B	862.4M	-3.29%	-61.71%	-11.46	1.67	7.01%	-127.00%
AIV	1.2B	184.6M	6.32%	29.74%	12.67	6.33	2.55%	1950.56%
PGRE	923.1M	745.2M	2.66%	-52.44%	-24.26	1.24	2.17%	-183.81%

Financials for Healthpeak Properties

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	1.3%	2,088	2,061	2,020	1,981	1,939
S&GA Expenses	0.5%	132	131	99.00	98.00	97.00
EBITDA	-0.2%	1,391	1,393	1,091	1,177	-
EBITDA Margin	-2.2%	0.67*	0.69*	0.55*	0.61*	-
Earnings Before Taxes	11.7%	566	507	523	226	324
EBT Margin	-5.0%	0.25*	0.26*	0.11*	0.17*	-
Interest Expenses	6.0%	183	173	160	152	149
Net Income	9.5%	548	500	523	223	431
Net Income Margin	-6.2%	0.24*	0.26*	0.11*	0.22*	-
Free Cahsflow	-1.8%	900	917	885	867	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-1.1%	15,602	15,771	15,662	15,318	15,287
Cash Equivalents	-17.8%	59.00	72.00	112	73.00	89.00
Liabilities	-1.2%	8,379	8,483	8,536	8,362	8,242
Long Term Debt	2.1%	6,591	6,454	6,336	-	-
Shareholder's Equity	-0.7%	6,610	6,655	6,467	6,840	6,948
Additional Paid-In Capital	0.1%	10,360	10,350	10,015	10,074	10,085
Shares Outstanding	0.1%	547	547	538	540	539
Minority Interest	0.0%	528	528	532	535	539

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-2.3%	880	900	917	885	867
Share Based Compensation	-5.4%	25.00	26.00	19.00	19.00	19.00
Cashflow From Investing	34.5%	-574	-876	-1,250	-1,642	-482
Cashflow From Financing	-190.0%	-337	-116	234	649	-382
Dividend Payments	0.2%	650	648	649	649	649
Buy Backs	-7.2%	63.00	68.00	68.00	12.00	12.00

Risks for PEAK

What is the probability of a big loss on PEAK?

45.8%

Probability that Healthpeak Properties stock will be more than 20% underwater in next one year

38.5%

Probability that Healthpeak Properties stock will be more than 30% underwater in next one year.

18.5%

Probability that Healthpeak Properties stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does PEAK drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Healthpeak Properties was unfortunately bought at previous high price.

Drawdowns

Returns for PEAK

Cumulative Returns on PEAK

-2.9%

10-Year Cumulative Returns

-0.3%

7-Year Cumulative Returns

2.6%

5-Year Cumulative Returns

4.9%

3-Year Cumulative Returns

What are the long-term rolling returns for PEAK?

FIve years rolling returns for Healthpeak Properties.

Annualized Returns

Which funds bought or sold PEAK recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-23	Front Row Advisors LLC	unchanged	-	-1,000	-	-%
2023-05-23	Toroso Investments, LLC	added	100	312,000	724,000	0.01%
2023-05-23	Brookfield Corp /ON/	added	4.65	-7,031,900	77,758,100	0.30%
2023-05-22	FDx Advisors, Inc.	unchanged	-	-	2,208,000	0.10%
2023-05-22	PUTNAM INVESTMENTS LLC	new	-	10,564,600	10,564,600	0.02%
2023-05-22	AMERIPRISE FINANCIAL INC	added	59.23	5,952,030	20,986,000	0.01%
2023-05-22	Arete Wealth Advisors, LLC	new	-	269,000	269,000	0.02%
2023-05-22	Raleigh Capital Management Inc.	added	2.78	-25,892	234,796	0.12%
2023-05-18	SkyView Investment Advisors, LLC	new	-	-	-	-%
2023-05-18	Harvest Portfolios Group Inc.	added	13.09	-3,478	385,859	0.02%

Latest Funds Activity

Are funds buying PEAK calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own PEAK

No. of Funds

PEAK Alerts

Big jump in Earnings (Y/Y)

Healthpeak Properties News

Schedule 13G FIlings of Healthpeak Properties

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	cohen & steers, inc.	2.86%	15,386,796	SC 13G/A
Feb 09, 2023	vanguard group inc	16.37%	87,991,432	SC 13G/A
Feb 03, 2023	state street corp	7.31%	39,270,414	SC 13G/A
Jan 26, 2023	blackrock inc.	11.1%	59,435,809	SC 13G/A
Jan 20, 2023	blackrock inc.	11.1%	59,435,809	SC 13G/A
Sep 12, 2022	cohen & steers, inc.	7.51%	40,509,274	SC 13G/A
Feb 14, 2022	cohen & steers, inc.	13.07%	70,462,139	SC 13G/A
Feb 11, 2022	state street corp	6.60%	35,583,315	SC 13G/A
Feb 10, 2022	vanguard group inc	15.96%	86,061,246	SC 13G/A
Jan 27, 2022	blackrock inc.	10.6%	57,115,834	SC 13G/A

PEAK Fair Value

Healthpeak Properties fair value in different scenarios

The table shows the Fair Value estimates for Healthpeak Properties for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	9.75 -	11.29 -	20.51 -	29.52 -	35.06 -
Current Inflation	9.39 -	10.82 -	18.52 -	26.13 -	30.74 -
Very High Inflation	8.94 -	10.21 -	16.17 -	22.19 -	25.77 -

Historical Healthpeak Properties Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Healthpeak Properties

View All Filings

Date Filed	Form Type	Document
May 10, 2023	8-K	Current Report
May 02, 2023	424B5	Prospectus Filed
May 02, 2023	8-K	Current Report
May 01, 2023	FWP	Prospectus Filed
May 01, 2023	424B5	Prospectus Filed
May 01, 2023	4	Insider Trading
May 01, 2023	4	Insider Trading
May 01, 2023	4	Insider Trading
May 01, 2023	4	Insider Trading
May 01, 2023	4	Insider Trading

Latest Insider Trading transactions for PEAK

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-04-28	Lewis Sara Grootwassink	acquired	-	-	8,193	-
2023-04-28	Cartwright Brian G.	acquired	-	-	8,193	-
2023-04-28	Griffin R Kent Jr	acquired	-	-	8,193	-
2023-04-28	GARVEY CHRISTINE	acquired	-	-	8,193	-
2023-04-28	Sandstrom Katherine M	acquired	-	-	8,193	-
2023-04-28	Connor James B.	acquired	-	-	8,193	-
2023-04-28	HENRY DAVID	acquired	-	-	8,193	-
2023-03-17	Klaritch Thomas	gifted	-	-	-7,100	coo
2023-03-15	Lewis Sara Grootwassink	bought	85,728	21.4322	4,000	-
2023-03-07	Klaritch Thomas	bought	35,203	23.206	1,517	coo

About Healthpeak Properties

Thomas M. Herzog

www.healthpeak.com

200

Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns and develops high-quality real estate in the three private-pay healthcare asset classes of Life Science, Medical Office and Senior Housing, designed to provide stability through the inevitable industry cycles. At Healthpeak, we pair our deep understanding of the healthcare real estate market with a strong vision for long-term growth.

PEAK Income Statement

2023-03-31

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues [Abstract]
Rental and related revenues	$ 392,431	$ 370,150
Resident fees and services	127,084	121,560
Interest income	6,163	5,494
Income from direct financing leases	0	1,168
Total revenues	525,678	498,372
Costs and expenses:
Interest expense	47,963	37,586
Depreciation and amortization	179,225	177,733
Operating	223,088	207,247
General and administrative	24,547	23,831
Transaction costs	2,425	296
Impairments and loan loss reserves (recoveries), net	(2,213)	132
Total costs and expenses	475,035	446,825
Other income (expense):
Gain (loss) on sales of real estate, net	81,578	3,856
Other income (expense), net	772	18,316
Total other income (expense), net	82,350	22,172
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures	132,993	73,719
Income tax benefit (expense)	(302)	(777)
Equity income (loss) from unconsolidated joint ventures	1,816	2,084
Income (loss) from continuing operations	134,507	75,026
Income (loss) from discontinued operations	0	317
Net income (loss)	134,507	75,343
Noncontrolling interests’ share in continuing operations	(15,555)	(3,730)
Net income (loss) attributable to Healthpeak Properties, Inc.	118,952	71,613
Participating securities’ share in earnings	(1,254)	(1,976)
Net income (loss) applicable to common shares	$ 117,698	$ 69,637
Earnings Per Share [Abstract]
Continuing operations (in dollars per share)	$ 0.22	$ 0.13
Discontinued operations (in dollars per share)	0	0.00
Net income (loss) applicable to common shares (in dollars per share)	0.22	0.13
Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)	0.22	0.13
Discontinued operations (in dollars per share)	0	0.00
Net income (loss) applicable to common shares (in dollars per share)	$ 0.22	$ 0.13
Weighted average shares outstanding:
Basic (in shares)	546,842	539,352
Diluted (in shares)	547,110	539,586

PEAK Balance Sheet

2023-03-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Real estate:
Buildings and improvements	$ 12,889,290	$ 12,784,078
Development costs and construction in progress	819,810	760,355
Land	2,674,942	2,667,188
Accumulated depreciation and amortization	(3,296,781)	(3,188,138)
Net real estate	13,087,261	13,023,483
Loans receivable, net of reserves of $6,152 and $8,280	243,149	374,832
Investments in and advances to unconsolidated joint ventures	714,679	706,677
Accounts receivable, net of allowance of $2,413 and $2,399	57,705	53,436
Cash and cash equivalents	59,235	72,032
Restricted cash	57,990	54,802
Intangible assets, net	391,956	418,061
Assets held for sale, net	0	49,866
Right-of-use asset, net	235,591	237,318
Other assets, net	754,723	780,722
Total assets	15,602,289	15,771,229
LIABILITIES AND EQUITY
Bank line of credit and commercial paper	556,000	995,606
Term loans	496,168	495,957
Senior unsecured notes	5,056,543	4,659,451
Mortgage debt	345,167	346,599
Intangible liabilities, net	149,604	156,193
Liabilities related to assets held for sale, net	0	4,070
Lease liability	207,734	208,515
Accounts payable, accrued liabilities, and other liabilities	688,994	772,485
Deferred revenue	878,444	844,076
Total liabilities	8,378,654	8,482,952
Commitments and contingencies (Note 10)
Redeemable noncontrolling interests	85,902	105,679
Common stock, $1.00 par value: 750,000,000 shares authorized; 546,994,803 and 546,641,973 shares issued and outstanding	546,995	546,642
Additional paid-in capital	10,360,058	10,349,614
Cumulative dividends in excess of earnings	(4,316,038)	(4,269,689)
Accumulated other comprehensive income (loss)	18,721	28,134
Total stockholders’ equity	6,609,736	6,654,701
Joint venture partners	320,363	327,721
Non-managing member unitholders	207,634	200,176
Total noncontrolling interests	527,997	527,897
Total equity	7,137,733	7,182,598
Total liabilities and equity	$ 15,602,289	$ 15,771,229