Healthpeak Properties Stock: Analyst Estimates & Ratings
Denver, Colorado-based Healthpeak Properties, Inc. (DOC) is a fully integrated real estate investment trust (REIT). Valued at a market cap of $11.7 billion, the company owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery.
This healthcare REIT has considerably underperformed the broader market over the past 52 weeks. Shares of DOC have declined 20% over this time frame, while the broader S&P 500 Index ($SPX) has gained 21.1%. Moreover, on a YTD basis, the stock is down 16.2%, compared to SPX’s 7.9% uptick.
Narrowing the focus, DOC has also lagged behind the Real Estate Select Sector SPDR Fund’s (XLRE) marginal loss over the past 52 weeks and 1.9% rise on a YTD basis.
On Jul. 24, DOC released its Q2 results, and its shares tumbled 6.7% on the following day. The company’s overall revenue declined marginally year-over-year to $694.3 million, missing consensus estimates by a slight margin. This revenue miss might have weighed on investor confidence. Meanwhile, its AFFO per share of $0.46 increased 2.2% from the year-ago quarter, meeting analyst estimates. Moreover, its total merger-combined same-store cash adjusted NOI grew 3.5% from the same period last year.
For the current fiscal year, ending in December, analysts expect DOC’s FFO to grow 2.2% year over year to $1.85 per share. The company’s earnings surprise history is promising. It met or exceeded the consensus estimates in each of the last four quarters.
Among the 18 analysts covering the stock, the consensus rating is a "Moderate Buy” which is based on 10 “Strong Buy,” two "Moderate Buy” and six “Hold” ratings.
This configuration is slightly less bullish than a month ago, with 11 analysts suggesting a “Strong Buy” rating.
On Aug. 1, RBC Capital analyst Michael Carroll maintained a "Buy" rating on DOC and set a price target of $21, implying a 24.6% potential upside from the current levels.
The mean price target of $22.06 represents a 30.9% premium from DOC’s current price levels, while the Street-high price target of $29 suggests an ambitious upside potential of 72.1%.
On the date of publication, Neharika Jain 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.