Healthpeak Properties (DOC, Financial) has elevated Kelvin Moses to the position of Chief Financial Officer. This announcement follows his successful tenure as the Executive Vice President of Investments and Portfolio Management. Mr. Moses's career with Healthpeak began in 2018, and he has significantly contributed to the company through various leadership roles in investments, operations, and development. His expanded responsibilities are expected to enhance Healthpeak's financial strategy and management.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 13 analysts, the average target price for Healthpeak Properties Inc (DOC, Financial) is $21.85 with a high estimate of $26.00 and a low estimate of $18.00. The average target implies an upside of 16.14% from the current price of $18.81. More detailed estimate data can be found on the Healthpeak Properties Inc (DOC) Forecast page.
Based on the consensus recommendation from 17 brokerage firms, Healthpeak Properties Inc's (DOC, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Healthpeak Properties Inc (DOC, Financial) in one year is $22.06, suggesting a upside of 17.28% from the current price of $18.81. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Healthpeak Properties Inc (DOC) Summary page.
DOC Key Business Developments
Release Date: February 04, 2025
- FFO as Adjusted (Q4 2024): $0.46 per share
- AFFO (Q4 2024): $0.40 per share
- Total Portfolio Same-Store Growth (Q4 2024): 5.4%
- FFO as Adjusted (Full Year 2024): $1.81 per share
- AFFO (Full Year 2024): $1.60 per share
- Net Debt to EBITDA: 5.2 times
- Outpatient Medical Same-Store Growth: 3.2%
- Lab Same-Store Growth: 5%
- CCRCs Same-Store Growth: 20.8%
- 2025 FFO as Adjusted Guidance: $1.81 to $1.87 per share
- 2025 Total Same-Store Growth Forecast: 3% to 4%
- 2025 Capital Spend Forecast: $600 million
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Healthpeak Properties Inc (DOC, Financial) reported strong financial performance with FFO as adjusted of $0.46 per share and AFFO of $0.40 per share for the fourth quarter.
- The company achieved a total portfolio same-store growth of 5.4% for the full year 2024, exceeding the midpoint of their original FFO guidance.
- Healthpeak Properties Inc (DOC) announced an increase in their dividend, supported by earnings growth, and will begin paying dividends on a monthly basis.
- The merger with Physician Realty has been successful, contributing to earnings growth and providing significant merger synergies.
- The company has a robust pipeline of development projects, particularly in the outpatient medical and life science sectors, with over $300 million in highly preleased projects.
Negative Points
- Interest expense is expected to increase by approximately $15 million in 2025 due to refinancing maturing bonds and funding investments.
- The company faces a timing lag between when tenants sign leases and when earnings commence, impacting immediate earnings growth.
- Healthpeak Properties Inc (DOC) has a significant amount of redevelopment projects, which could be a drag on earnings in the short term.
- The company is experiencing challenges in the lab leasing market, with occupancy expected to remain flat in the same-store pool.
- There is uncertainty in the market regarding potential mergers and acquisitions, which could impact demand and tenant dynamics.
