Healthpeak Properties Stock: Is DOC Underperforming the Real Estate Sector?

Healthpeak Properties, Inc. (DOC) is a real estate investment trust focused on owning, operating, and developing high-quality healthcare-related properties across the United States, including life sciences campuses, outpatient medical offices, and senior housing facilities. Headquartered in Denver, Colorado, the company plays a key role in supporting healthcare delivery and innovation through its diversified real estate portfolio. Healthpeak Properties has a market cap of around $11.9 billion.

Companies with market cap $10 billion or more are typically classified as large-cap stocks, and Healthpeak Properties clearly fits this category. The company emphasizes a disciplined execution, and a focused approach, all of which support the consistent realization of its long-term growth vision.

The REIT is currently down by 16.9% from its 52-week high of $20.52 touched in March 2025. Furthermore, DOC has gained 6.6% over the past three months, outperforming the Real Estate Select Sector SPDR Fund’s (XLRE) marginal rise during the same time frame.

However, Healthpeak stock has slumped 7.7% over the past six months, lagging behind XLRE’s 3% decline during the same time frame. Meanwhile, over the past 52 weeks, DOC plunged 16.2% underperforming XLRE’s 3.2% decrease.

While the stock is mostly trading above the 50-day moving average since mid-February, it is below the 200-day moving average, with some fluctuations.

Healthpeak Properties’ stock has declined over the past year amid rising interest rates that have weighed heavily on REIT valuations by increasing borrowing costs and reducing investor appetite for income-focused assets, while the company’s transition toward life sciences properties has introduced leasing and reinvestment risks. At the same time, slower leasing activity in key lab campuses, broader weakness in the real estate sector and financial pressures among biotech tenants have dampened growth expectations.

Healthpeak Properties has substantially lagged behind its peer Omega Healthcare Investors, Inc.’s (OHI) 7.9% gains over the past six months and a 19.1% surge over the past year.

Among the 18 analysts covering the DOC stock, the consensus rating is a “Moderate Buy.” Its mean price target of $19.47 indicates a 14.2% upside potential from current price levels.