Denver, Colorado-based Healthpeak Properties, Inc. (DOC) is a fully integrated REIT that owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery. Valued at $14.1 billion by market cap, the company invests in health care related real estate properties such as senior housing, life sciences, medical offices, hospitals, and skilled nursing homes.
Shares of this leading U.S. REIT have outperformed the broader market over the past year. DOC has gained 13.9% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 11.3%. In 2026, DOC stock is up 26.7%, surpassing the SPX’s 11.3% rise on a YTD basis.
Zooming in further, DOC’s outperformance looks more pronounced compared to State Street Real Estate Select Sector SPDR ETF (XLRE). The exchange-traded fund has gained about 6.9% over the past year. Moreover, the stock’s returns on a YTD basis outshine the ETF’s 10.5% gains over the same time frame.
On Nov. 2, DOC shares closed up more than 2% after reporting its Q3 results. Its FFO of $0.44 per share surpassed Wall Street expectations of $0.43 per share. The company’s revenue was $820.9 million, topping Wall Street forecasts of $758.3 million. DOC expects full-year FFO in the range of $1.76 to $1.78 per share.
For the current fiscal year, ending in December, analysts expect DOC’s FFO per share to fall 3.8% to $1.77 on a diluted basis. The company’s FFO surprise history is impressive. It beat the consensus estimate in each of the last four quarters.
Among the 22 analysts covering DOC stock, the consensus is a “Moderate Buy.” That’s based on six “Strong Buy” ratings, one “Moderate Buy,” and 15 “Holds.”
The configuration has been consistent over the past three months.
On Nov. 9, Michael Carroll from RBC Capital maintained a “Buy” rating on DOC, with a price target of $24, implying a potential upside of 17.8% from current levels.
The mean price target of $22.16 represents an 8.7% premium to DOC’s current price levels. The Street-high price target of $29 suggests a notable upside potential of 42.3%.
On the date of publication, Neha Panjwani did not directly have a position 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.