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NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Healthpeak Properties, Inc. DOC

19 fiscal years on record · USD · FY2025 reported · SEC filings only
$604.0M
▲ 6.2% YoY
$71.3M
▼ 70.7% YoY
$357.0M
▲ 7.0% YoY
In brief

What this company does

Healthpeak Properties, Inc. owns, operates, and develops real estate focused on healthcare discovery and delivery in the United States. The company is headquartered in Denver, Colorado, with additional corporate offices in California, Tennessee, Wisconsin, and Massachusetts, and property management offices in several locations throughout the United States. As of December 31, 2025, its portfolio of investments consisted of interests in 689 properties, comprising 507 outpatient medical properties, 145 lab properties, 34 senior housing properties, and 3 other non-reportable properties. The outpatient medical segment includes outpatient medical buildings and hospitals; outpatient medical buildings typically contain physicians' offices and examination rooms, and may also include pharmacies, hospital ancillary service space, and outpatient services such as diagnostic centers, rehabilitation clinics, and day-surgery operating rooms. Its lab properties, which contain laboratory and office space, are leased primarily to biotechnology, medical device, and pharmaceutical companies, scientific research institutions, government agencies, and other organizations involved in the life science industry. Within the lab segment, properties are located in geographical markets including San Francisco, California (59%), Boston, Massachusetts (22%), and San Diego, California (17%), based on total square feet. Its senior housing segment includes life plan communities and its SWF SH JV, an interest in an unconsolidated joint venture with a sovereign wealth fund that owns 19 senior housing assets. The company was originally founded in 1985.

Written from the business description in HEALTHPEAK PROPERTIES, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 3 February 2026. Every sentence was checked against that document before publication.

Growth
USD 604.0M
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 0.6 · Net income 0.1
0.8B1.6B-0.2B-0.4B2007201020132016201920222025
Compound annual growth
+6.9%
+6.7%
−11.0%
−4.7%
−47.8%
−29.6%
−9.7%
−52.3%
−33.5%
−14.2%
+0.6%
−3.8%
−6.0%
−2.8%
+9.7%
+3.5%
−1.0%
+3.2%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +6.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
17 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating — · Net 16.7%
200%400%600%2007201020132016201920222025
ROE
FY2025 · ROE 0.9%
5%10%15%-2%-4%2007201020132016201920222025

Each USD of equity produced 1 cents of profit this year.

Cash & shareholders
USD 946.2M
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 0.4
0.4B0.8B2007201020132016201920222025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.8 · Net buybacks 0.1
0.4B0.8BDividendsNet buybacks2007201020132016201920222025

USD 849.1M in dividends and USD 97.1M in buybacks — 1326% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 20.3B
EquityUSD 7.5B
CashUSD 467.5M
Gross debtUSD 9.8B
Net debtUSD 9.4B

Net debt stands at 125% of equity.

The 19-year record
19 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B0.60.60.50.50.50.40.10.10.52.11.91.62.11.91.71.21.11.11.0
Operating income $B······−0.0−0.00.00.00.0−0.0·······
EBITDA $B···················
Income tax $B0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.0−0.0−0.00.0−0.00.00.00.00.00.0
Net income $B0.10.20.30.50.50.40.01.10.40.6−0.60.91.00.80.50.30.10.40.6
Free cash flow $B0.40.30.2−0.10.0−0.00.20.30.40.80.81.11.00.90.60.50.40.40.0
EPS, diluted $0.100.360.560.920.930.770.092.240.881.34−1.212.002.131.901.291.000.401.792.70
Dividend / sh $1.221.201.201.201.201.481.481.481.482.102.262.182.102.001.921.861.841.821.78
Payout %1190327215129129190158266168156−18710999104146179393102·
ROE %0.93.34.77.67.66.50.818.97.68.4−5.68.69.18.56.34.82.48.6·
Shares out B0.700.700.550.550.540.540.510.480.470.470.470.460.460.450.410.370.290.25·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 56 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 3 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inMaryland
Fiscal year endsDecember 31
Data on record since2007

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