Healthpeak Properties Stock: Is Wall Street Bullish or Bearish?

Core Insights - Healthpeak Properties, Inc. (DOC) has a market capitalization of $12.2 billion and focuses on high-quality healthcare real estate across the U.S. with a diversified portfolio of 703 assets as of September 30, 2025 [1] Performance Overview - Over the past 52 weeks, DOC shares have declined by 21.6%, underperforming the S&P 500 Index, which increased by 17.7% during the same period [2] - Year-to-date, DOC shares are down nearly 13%, while the S&P 500 has risen by 15.7% [2] - Compared to the Real Estate Select Sector SPDR Fund (XLRE), which decreased by 6.9% over the past 52 weeks, DOC's underperformance is more pronounced [3] Financial Results - Following the Q3 2025 results released on October 23, DOC shares rose by 1.2% as the company reported an AFFO of $0.46 per share and revenue of $705.9 million, both exceeding expectations [4] - The company experienced a 0.9% year-over-year growth in total merger-combined same-store cash NOI, with outpatient medical and CCRC segments growing by 2.0% and 9.4%, respectively [4] - Healthpeak reaffirmed its 2025 FFO guidance of $1.81 to $1.87 per share [4] Analyst Ratings and Price Targets - For the fiscal year ending December 2025, analysts project a 1.1% year-over-year increase in AFFO per share to $1.83 [5] - Healthpeak has a positive earnings surprise history, having met or exceeded consensus estimates in the last four quarters [5] - Among 20 analysts covering the stock, the consensus rating is a "Moderate Buy," with nine "Strong Buy" ratings, three "Moderate Buys," and eight "Holds" [5] - RBC Capital's Michael Carroll reaffirmed a "Buy" rating on Healthpeak with a price target of $21, while the mean price target of $20.72 indicates a 16.9% premium to current price levels [6] - The highest price target of $29 suggests a potential upside of 63.6% [6]