Healthpeak Properties, Inc.

DOC

Real EstateREIT - Healthcare FacilitiesNYSE

$16.84

Market Cap: $11.70B

Healthpeak Properties, Inc. (DOC) Valuation Summary

DCF FAIR VALUE

$40.91

Market Price

$16.84

Upside / Downside

+143.0%

Verdict

Undervalued

Using a 5-year unlevered FCFF model with Gordon Growth terminal value, Healthpeak Properties, Inc. (DOC) has an intrinsic value of $40.91 (range: $17.56 – $223.52), suggesting the stock is undervalued by 143.0% relative to its current market price of $16.84.

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Growth Exit 5Y	$17.56 – $223.52	$40.91	+143.1%
Growth Exit 10Y	$24.71 – $268.00	$52.52	+212.1%
EBITDA Exit 5Y	$27.81 – $54.25	$39.98	+137.5%
EBITDA Exit 10Y	$33.79 – $72.75	$50.59	+200.6%
▸ Trading Multiples
P/E	$3.20 – $7.22	$9.69	-42.4%
EV/EBITDA	$28.75 – $43.34	$34.18	+103.1%
▸ PEG
PEG Fair Value	$5.96 – $5.96	$5.96	-64.6%
▸ Earnings Power Value
Earnings Power Value	$6.52 – $19.28	$11.40	-32.3%

How we calculated this: The fair value is derived from a 5-year unlevered FCFF model with line-by-line expense modeling, discounted at the WACC (6.4%). The terminal value uses a Gordon Growth perpetual rate based on Healthpeak Properties, Inc.'s classification as a Dividend PayerDividend PayerCompany returning significant cash to shareholders via dividends.· Moderate growth (~10% CAGR)· Thin margins (2.5% net margin)· Strong dividend yield (7.3%)· Moderately volatile earnings· Strong FCF yield (9.8%) company. Other models are shown below for reference.

Sweet Value Lab vs Wall Street

View analyst details →

Sweet Value Lab Fair Value

$40.91

+143.0% upside

Undervalued

Based on DCF, Multiples & PEG models

Wall Street Target

$18.00

+6.9% upside

Fairly Valued

Analyst consensus price target

Both Sweet Value Lab's quantitative models and Wall Street analysts agree that Healthpeak Properties, Inc. (DOC) is undervalued at the current price of $16.84, though they differ on magnitude (Sweet Value Lab: +143% vs Wall Street: +7%).

Valuation History

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions. Data sourced from SEC filings via Financial Modeling Prep. Last updated: 3/28/2026.

Healthpeak Properties, Inc. (DOC) Valuation Summary

DCF FAIR VALUE

$40.91

Market Price

$16.84

Upside / Downside

+143.0%

Verdict

Undervalued

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Growth Exit 5Y	$17.56 – $223.52	$40.91	+143.1%
Growth Exit 10Y	$24.71 – $268.00	$52.52	+212.1%
EBITDA Exit 5Y	$27.81 – $54.25	$39.98	+137.5%
EBITDA Exit 10Y	$33.79 – $72.75	$50.59	+200.6%
▸ Trading Multiples
P/E	$3.20 – $7.22	$9.69	-42.4%
EV/EBITDA	$28.75 – $43.34	$34.18	+103.1%
▸ PEG
PEG Fair Value	$5.96 – $5.96	$5.96	-64.6%
▸ Earnings Power Value
Earnings Power Value	$6.52 – $19.28	$11.40	-32.3%

Sweet Value Lab vs Wall Street

View analyst details →

Sweet Value Lab Fair Value

$40.91

+143.0% upside

Undervalued

Based on DCF, Multiples & PEG models

Wall Street Target

$18.00

+6.9% upside

Fairly Valued

Analyst consensus price target