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Healthpeak Properties

Real estate investment trust

Healthpeak Properties, Inc. is an American real estate investment trust that invests in senior housing, life science labs, and medical offices.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

1985Founded1

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  • TickerDOC on NYSE1
  • Industryreal estate investment trust1
  • HeadquartersLong Beach1
  • Websitewww.hcpi.com
  • Incorporated inMD5
  • Business address4600 South Syracuse Street, Suite 500, Denver, Co 802375
  • Filer categoryLarge accelerated filer5
  • Legal formStock Corporation4
  • LEI254900M6MTMZM0I22L814
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O The Corporation Trust Incorporated, 21093 Lutherville Timonium, United States4
  • Registered withBusiness Services (Maryland Department of Assessments and Taxation), D235093594

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Healthpeak Properties, Inc. is an American real estate investment trust that invests in senior housing, life science labs, and medical offices. As of December 31, 2025, the company owned interests in 689 properties.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

11.8%Net margin10
6.2%Revenue growth, 202510
1.0%Return on equity10
1.31×Debt to equity10

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Outpatient Medical brought in 47% of the revenue Healthpeak Properties broke down this way in fiscal 2025.

  1. Outpatient Medical$1.3B1047%up 7% from 2024
  2. Lab$860.0M1031%down 2% from 2024
  3. Senior Housing$604.0M1022%up 6% from 2024
Business segments by year
Business segments202320242025
Outpatient Medical$732.3M$1.2B$1.3B
Lab$878.3M$881.5M$860.0M
Senior Housing$527.4M$568.5M$604.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs36¢$218.2M
  • Interest51¢$305.2M
  • Income tax2¢$9.3M
  • Profit12¢$71.3M

Out of $604.0M in revenue.10

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid68¢$849.1M
  • Share buybacks8¢$97.1M
  • Kept or used elsewhere24¢$305.7M

Out of $1.3B of cash from operations.10

Financial statements

Revenue1112131410$604.0M in 2025+318% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $144.3M$144.3M20192020: $436.5M$436.5M2020+202%2021: $471.3M$471.3M2021+8%2022: $494.9M$494.9M2022+5%2023: $527.4M$527.4M2023+7%2024: $568.5M$568.5M2024+8%2025: $604.0M$604.0M2025+6%
Net income1112131410$71.3M in 2025+57% since 2019
0$200.0M$400.0M$600.0M2019: $45.5M$45.5M20192020: $413.6M$413.6M2020+808%2021: $505.5M$505.5M2021+22%2022: $500.4M$500.4M2022−1%2023: $306.0M$306.0M2023−39%2024: $243.1M$243.1M2024−21%2025: $71.3M$71.3M2025−71%

Every line of the income statement as filed: the last 3 fiscal years, latest first.10

Period ending2025-12-312024-12-312023-12-31
Rental and related revenues$2.2B$2.1B$1.6B
Resident fees and services$604.0M$568.5M$527.4M
Interest income and other$61.8M$44.8M$21.8M
Total revenues$2.8B$2.7B$2.2B
Operating$1.1B$1.1B$902.1M
Depreciation and amortization$1.1B$1.1B$749.9M
Interest expense$305.2M$280.4M$200.3M
General and administrative$90.4M$97.2M$95.1M
Transaction and merger-related costs$25.5M$132.7M$17.5M
Impairments and loan loss reserves (recoveries), net-$893.0K$23.0M-$5.6M
Total costs and expenses$2.6B$2.7B$2.0B
Gain (loss) on sales of real estate, net$69.5M$178.7M$86.5M
Other income (expense), net$479.0K$59.3M$6.8M
Total other income (expense), net$70.0M$238.0M$93.3M
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures$284.3M$273.2M$314.9M
Income tax benefit (expense)-$9.3M-$4.3M$9.6M
Equity income (loss) from unconsolidated joint ventures-$174.0M-$1.5M$10.2M
Net income (loss)$101.0M$267.3M$334.8M
Noncontrolling interests share in earnings-$29.7M-$24.2M-$28.7M
Net income (loss) attributable to Healthpeak Properties, Inc.$71.3M$243.1M$306.0M
Participating securities share in earnings-$834.0K-$758.0K-$1.7M
Net income (loss) applicable to common shares$70.5M$242.4M$304.3M
Basic (in dollars per share)$0.10$0.36$0.56
Diluted (in dollars per share)$0.10$0.36$0.56
Basic (in shares)696.0M shares675.7M shares547.0M shares
Diluted (in shares)696.0M shares676.2M shares547.3M shares

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The story

The company was founded in May 1985. That year, the company became a public company via an initial public offering.

In September 2007, the company changed its name from Health Care Property Investors, Inc. to HCP, Inc.

In October 2016, the company completed the spin-off of Quality Care Properties.

In October 2019, the company restructured its joint venture with Brookdale Senior Living. HCP acquired Brookdale's 51% interest in 12 properties for $510 million and Brookdale acquired 18 properties from HCP for $405 million.

The company changed its name to Healthpeak Properties, Inc. in November 2019.

In November 2020, the company announced that it will move its headquarters from California to Denver.

In March 2024, the company acquired Physicians Realty Trust.

In March 2026, the company sold a minority interest in Janus Senior Living.

Read the full text

That month, the company began plans for a $4.5 billion, 4.6-million-square-foot mixed-use development in Cambridge, Massachusetts.

In July 2026, the company sold a 49% interest in its $2.1 billion portfolio of outpatient medical buildings to Brookfield Asset Management.

From Wikipedia’s article on Healthpeak Properties, shared under CC BY-SA 4.0.6

Leadership

Who has led Healthpeak Properties, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. James F. Flaherty Iii.2006–2013
  2. Lauralee Martin2013–2016
  3. Thomas M. Herzog2017–2023
  4. Scott M. Brinker2023–now

Chair

  1. James F. Flaherty Iii.2006–2013
  2. Michael D. McKee2016–2018

President

  1. James F. Flaherty Iii.2006–2012
  2. Lauralee Martin2013–2016
  3. James Justin Hutchens2017
  4. Thomas M. Herzog2017–2019
  5. Scott M. Brinker2020–now

Chief financial officer

  1. Mark A. Wallace2006–2009
  2. Timothy M. Schoen2012–2016
  3. Thomas M. Herzog2016
  4. Kelvin O. Moses2025–now

Chief operating officer

  1. Thomas Klaritch2017–now
1990200020102020
Board members and other officers (55)

Subsidiaries and ownership

Subsidiaries (GLEIF)

Also consolidated

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Former names

  • HCP, INC.Sep 20, 2007 to Oct 1, 20195
  • HEALTH CARE PROPERTY INVESTORS INCMar 28, 1994 to Sep 10, 20075

Timeline

  1. Mar 4, 2024Went public Listed on NYSE1
  2. Feb 6, 2023New chief executive Scott M. Brinker becomes CEO19
  3. Jun 28, 2017New chief executive Thomas M. Herzog becomes CEO20
  4. Oct 4, 2013New chief executive Lauralee Martin becomes CEO21
  5. Jan 12, 2006New chief executive James F. Flaherty Iii. becomes CEO22
  6. 1985Founded Founded1

Filings

390 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 72 major events, 184 insider forms, 22 large holders, 92 other. The latest 20:

  1. Aug 7, 2026SCHEDULE 13G EDGAR
  2. Aug 5, 202610-Q EDGAR
  3. Aug 4, 20268-K EDGAR
  4. Jul 22, 2026SCHEDULE 13G/A EDGAR
  5. Jun 2, 20264 EDGAR
  6. Jun 2, 20264 EDGAR
  7. Jun 2, 20264 EDGAR
  8. Jun 2, 20264 EDGAR
  9. Jun 2, 20264 EDGAR
  10. Jun 2, 20264 EDGAR
  11. May 18, 20264 EDGAR
  12. May 13, 20264 EDGAR
  13. May 13, 2026SCHEDULE 13G EDGAR
  14. May 12, 2026144 EDGAR
  15. May 7, 20264 EDGAR
  16. May 7, 20264 EDGAR
  17. May 7, 20264 EDGAR
  18. May 7, 20264 EDGAR
  19. May 7, 20264 EDGAR
  20. May 7, 20264 EDGAR

The 390 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

22 open-market trades by officers, directors and large owners since October 2021: 17 buys and 5 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 12, 2026Bohn Scott RCDO and Head of LabSale10,989$19.45$213.7KForm 4
Aug 6, 2025Thomas John TDirectorBuy1,450$17.06$24.7KForm 4
Aug 4, 2025Brinker Scott MPresident and CEOBuy1,490$16.83$25.1KForm 4
Jul 31, 2025Brinker Scott MPresident and CEOBuy2,930$17.06$50.0KForm 4
Jul 28, 2025Brinker Scott MPresident and CEOBuy2,873$17.40$50.0KForm 4
May 28, 2025Thompson Tommy GDirectorBuy5,777$17.27$99.8KForm 4
May 9, 2025Thompson Tommy GDirectorBuy5,700$17.36$99.0KForm 4
May 9, 2025Brinker Scott MPresident and CEOBuy2,750$17.39$47.8KForm 4
Apr 29, 2025Lias-Booker AvaDirectorBuy5,000$17.83$89.2KForm 4
Apr 28, 2025Thomas John TDirectorBuy4,200$17.84$74.9KForm 4
Apr 28, 2025Sandstrom Katherine MDirectorBuy11,288$17.65$199.2KForm 4
Apr 28, 2025Lewis Sara GrootwassinkDirectorBuy6,000$17.66$106.0KForm 4
Apr 28, 2025SHELLEY-KESSLER PAMELADirectorBuy2,838$17.62$50.0KForm 4
Apr 28, 2025Brinker Scott MPresident and CEOBuy11,337$17.68$200.4KForm 4
Mar 4, 2024Lewis Sara GrootwassinkDirectorBuy18,000$16.71$300.8KForm 4
Mar 15, 2023Lewis Sara GrootwassinkDirectorBuy4,000$21.43$85.7KForm 4
Mar 7, 2023Klaritch ThomasCOOBuy1,517$23.21$35.2KForm 4
Mar 2, 2023Brinker Scott MPresident and CEOBuy16,300$23.63$385.2KForm 4
Feb 22, 2023GARVEY CHRISTINEDirectorSale1,200$25.45$30.5KForm 4
Dec 27, 2022GARVEY CHRISTINEDirectorSale1,000$25.12$25.1KForm 4

All 22 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.70,935,046$1.5B0.0%−2,425,473
Vanguard Portfolio Management LLC58,375,816$1.2B0.1%+249,917
Vanguard Capital Management LLC45,014,755$963.3M0.0%−204,172
State Street Corp44,007,417$941.8M0.0%−4,493,183
Jpmorgan Chase & Co30,192,317$661.0M0.0%−14,539,224
Fuller & Thaler Asset Management, Inc.29,119,832$623.2M1.7%−81,752
Geode Capital Management, LLC24,653,617$526.9M0.0%+252,731
Invesco Ltd.18,507,997$396.1M0.0%−5,659,477
Principal Financial Group Inc16,760,575$358.7M0.2%−2,005,068
Bank of New York Mellon Corp15,234,655$326.0M0.1%−221,765
Morgan Stanley14,189,218$303.6M0.0%+1,879,859
Charles Schwab Investment Management Inc11,940,893$255.5M0.0%+479,733
Goldman Sachs Group Inc11,530,531$246.8M0.0%+4,285,770
Bank Of America Corp /de/10,962,604$234.6M0.0%−925,191
Dimensional Fund Advisors LP10,728,418$229.6M0.0%+144,682
Fmr LLC10,515,612$225.0M0.0%+1,254,605
Cullen Capital Management, LLC9,768,642$209.0M2.1%−1,222,659
Norges Bank9,414,320$201.5M0.0%New
Equity Investment Corp7,487,967$160.2M3.1%−177,266
Northern Trust Corp7,137,198$152.7M0.0%−1,434,550
Deutsche Bank Ag\6,284,908$134.5M0.0%−698,642
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC6,217,474$133.1M0.0%+6,187,772
Citadel Advisors LLC5,730,593$122.6M0.1%+5,535,851
LPL Financial LLC5,632,580$120.5M0.0%+233,644
Legal & General Group Plc5,428,632$116.2M0.0%−1,197,609

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

11 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Mar 27, 2026Alan ArmstrongRepublican, SenateBuy$1,001 - $15,000−7.3%Report
Feb 10, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseSale$1,001 - $15,000−0.1%Report
Jan 9, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+2.4%Report
Aug 4, 2025Lisa C. McClainRepublican, HouseSale$1,001 - $15,000+10.0%Report
Jun 17, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000−17.6%Report
May 15, 2025Robert P. Bresnahan, Jr.Republican, HouseSale$1,001 - $15,000+21.1%Report
Apr 1, 2025Julie JohnsonDemocratic, HouseSale$1,001 - $15,000+42.8%Report
Dec 12, 2022Christopher L. Jacobs, HouseBuy$1,001 - $15,000−118.4%Report
Nov 8, 2022Christopher L. Jacobs, HouseSale$1,001 - $15,000+123.5%Report
Jul 18, 2022Christopher L. Jacobs, HouseSale$1,001 - $15,000+129.1%Report
Jun 21, 2022Christopher L. Jacobs, HouseBuy$15,001 - $50,000−129.5%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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