DOC
Healthpeak Properties, Inc.
REIT - Healthcare Facilities
Market Cap$11.48B
5Y Perf.-33.0%
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Stock Comparison
DOC vs VTR vs WELL
Revenue, margins, valuation, and 5-year total return — side by side.
VTR
Ventas, Inc.
REIT - Healthcare Facilities
Market Cap$41.26B
5Y Perf.+148.3%
WELL
Welltower Inc.
REIT - Healthcare Facilities
Market Cap$150.14B
5Y Perf.+322.9%
DOC vs VTR vs WELL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | DOC | VTR | WELL |
|---|---|---|---|
| Industry | REIT - Healthcare Facilities | REIT - Healthcare Facilities | REIT - Healthcare Facilities |
| Market Cap | $11.48B | $41.26B | $150.14B |
| Revenue (TTM) | $2.87B | $6.13B | $11.63B |
| Net Income (TTM) | $222M | $260M | $1.43B |
| Gross Margin | 21.2% | -4.3% | 39.1% |
| Operating Margin | 14.4% | 13.4% | 4.4% |
| Forward P/E | 84.8x | 118.3x | 78.9x |
| Total Debt | $10.44B | $13.22B | $21.38B |
| Cash & Equiv. | $538M | $741M | $5.03B |
DOC vs VTR vs WELL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
DOC
VTR
WELL
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Healthpeak Properti… (DOC) | 100 | 67.0 | -33.0% |
| Ventas, Inc. (VTR) | 100 | 248.3 | +148.3% |
| Welltower Inc. (WELL) | 100 | 422.9 | +322.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: DOC vs VTR vs WELL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: WELL leads in 5 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Healthpeak Properties, Inc. is the stronger pick specifically for dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
DOC
Healthpeak Properties, Inc.
The Real Estate Income Play
DOC is the clearest fit if your priority is income & stability.
- Dividend streak 1 yrs, beta 0.52, yield 7.4%
- 7.4% yield, 1-year raise streak, vs WELL's 1.3%
Best for: income & stability
VTR
Ventas, Inc.
The Real Estate Income Play
VTR is the clearest fit if your priority is defensive.
- Beta 0.01, yield 2.1%, current ratio 0.96x
- Beta 0.01 vs DOC's 0.52, lower leverage
Best for: defensive
WELL
Welltower Inc.
The Real Estate Income Play
WELL carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 35.8%, EPS growth -11.5%, 3Y rev CAGR 22.7%
- 230.2% 10Y total return vs VTR's 67.4%
- Lower volatility, beta 0.13, Low D/E 49.5%, current ratio 5.34x
Best for: growth exposure and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | WELL | 35.8% FFO/revenue growth vs DOC's 4.5% |
| Value | WELL | Lower P/E (78.9x vs 118.3x) |
| Quality / Margins | WELL | 12.3% margin vs VTR's 4.2% |
| Stability / Safety | VTR | Beta 0.01 vs DOC's 0.52, lower leverage |
| Dividends | DOC | 7.4% yield, 1-year raise streak, vs WELL's 1.3% |
| Momentum (1Y) | WELL | +43.9% vs DOC's +0.9% |
| Efficiency (ROA) | WELL | 2.3% ROA vs VTR's 1.0%, ROIC 0.5% vs 2.5% |
DOC vs VTR vs WELL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
FY 2025
DOC vs VTR vs WELL — Financial Metrics
Side-by-side numbers across 3 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLWELLLAGGINGVTR
VTRVentas, Inc.
1leads
DOCHealthpeak Properties…
1leads
WELLWelltower Inc.
2leads
6 Total Categories
CATEGORYLEADERvs DOCvs VTRMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
DOC4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
WELL4/9
Total Returns1Y, 3Y, 5Y total returns with dividends
WELL6/6
Risk & VolatilityBeta, volatility, and downside exposure
VTR2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
Evenly matched — DOC and WELL each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
WELL is the larger business by revenue, generating $11.6B annually — 4.0x DOC's $2.9B. WELL is the more profitable business, keeping 12.3% of every revenue dollar as net income compared to VTR's 4.2%. On growth, WELL holds the edge at +40.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | DOCHealthpeak Proper… | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|---|
| RevenueTrailing 12 months | $2.9B | $6.1B | $11.6B |
| EBITDAEarnings before interest/tax | $1.5B | $2.3B | $2.8B |
| Net IncomeAfter-tax profit | $222M | $260M | $1.4B |
| Free Cash FlowCash after capex | $893M | $1.4B | $2.5B |
| Gross MarginGross profit ÷ Revenue | +21.2% | -4.3% | +39.1% |
| Operating MarginEBIT ÷ Revenue | +14.4% | +13.4% | +4.4% |
| Net MarginNet income ÷ Revenue | +7.7% | +4.2% | +12.3% |
| FCF MarginFCF ÷ Revenue | +31.1% | +22.4% | +21.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +7.1% | +22.0% | +40.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +3.6% | 0.0% | +22.5% |
Evenly matched — DOC and WELL each lead in 3 of 6 comparable metrics.
Valuation Metrics
DOC leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 154.2x trailing earnings, WELL trades at a 7% valuation discount to DOC's 165.1x P/E. On an enterprise value basis, DOC's 13.3x EV/EBITDA is more attractive than WELL's 66.8x.
| Metric | DOCHealthpeak Proper… | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|---|
| Market CapShares × price | $11.5B | $41.3B | $150.1B |
| Enterprise ValueMkt cap + debt − cash | $21.4B | $53.7B | $166.5B |
| Trailing P/EPrice ÷ TTM EPS | 165.10x | 160.70x | 154.17x |
| Forward P/EPrice ÷ next-FY EPS est. | 84.75x | 118.34x | 78.89x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — |
| EV / EBITDAEnterprise value multiple | 13.34x | 24.36x | 66.76x |
| Price / SalesMarket cap ÷ Revenue | 4.07x | 7.07x | 14.08x |
| Price / BookPrice ÷ Book value/share | 1.38x | 3.19x | 3.37x |
| Price / FCFMarket cap ÷ FCF | 10.01x | 31.34x | 52.72x |
DOC leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
WELL leads this category, winning 4 of 9 comparable metrics.
Profitability & Efficiency
WELL delivers a 3.5% return on equity — every $100 of shareholder capital generates $3 in annual profit, vs $2 for VTR. WELL carries lower financial leverage with a 0.49x debt-to-equity ratio, signaling a more conservative balance sheet compared to DOC's 1.26x. On the Piotroski fundamental quality scale (0–9), WELL scores 7/9 vs DOC's 4/9, reflecting strong financial health.
| Metric | DOCHealthpeak Proper… | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|---|
| ROE (TTM)Return on equity | +2.6% | +2.1% | +3.5% |
| ROA (TTM)Return on assets | +1.1% | +1.0% | +2.3% |
| ROICReturn on invested capital | +2.3% | +2.5% | +0.5% |
| ROCEReturn on capital employed | +2.8% | +3.2% | +0.6% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 | 7 |
| Debt / EquityFinancial leverage | 1.26x | 1.05x | 0.49x |
| Net DebtTotal debt minus cash | $9.9B | $12.5B | $16.3B |
| Cash & Equiv.Liquid assets | $538M | $741M | $5.0B |
| Total DebtShort + long-term debt | $10.4B | $13.2B | $21.4B |
| Interest CoverageEBIT ÷ Interest expense | 1.78x | 1.40x | 0.26x |
WELL leads this category, winning 4 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
WELL leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in WELL five years ago would be worth $31,264 today (with dividends reinvested), compared to $7,606 for DOC. Over the past 12 months, WELL leads with a +43.9% total return vs DOC's +0.9%. The 3-year compound annual growth rate (CAGR) favors WELL at 41.3% vs DOC's -0.9% — a key indicator of consistent wealth creation.
| Metric | DOCHealthpeak Proper… | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|---|
| YTD ReturnYear-to-date | +4.4% | +12.9% | +15.0% |
| 1-Year ReturnPast 12 months | +0.9% | +33.2% | +43.9% |
| 3-Year ReturnCumulative with dividends | -2.6% | +93.0% | +182.2% |
| 5-Year ReturnCumulative with dividends | -23.9% | +80.0% | +212.6% |
| 10-Year ReturnCumulative with dividends | +9.2% | +67.4% | +230.2% |
| CAGR (3Y)Annualised 3-year return | -0.9% | +24.5% | +41.3% |
WELL leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
VTR leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
VTR is the less volatile stock with a 0.01 beta — it tends to amplify market swings less than DOC's 0.52 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. VTR currently trades 98.1% from its 52-week high vs DOC's 83.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | DOCHealthpeak Proper… | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.52x | 0.01x | 0.13x |
| 52-Week HighHighest price in past year | $19.68 | $88.50 | $219.59 |
| 52-Week LowLowest price in past year | $15.70 | $61.76 | $142.65 |
| % of 52W HighCurrent price vs 52-week peak | +83.9% | +98.1% | +97.6% |
| RSI (14)Momentum oscillator 0–100 | 43.7 | 62.0 | 62.6 |
| Avg Volume (50D)Average daily shares traded | 7.6M | 3.3M | 2.6M |
VTR leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — DOC and WELL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: DOC as "Buy", VTR as "Buy", WELL as "Buy". Consensus price targets imply 8.2% upside for DOC (target: $18) vs 4.6% for VTR (target: $91). For income investors, DOC offers the higher dividend yield at 7.39% vs WELL's 1.29%.
| Metric | DOCHealthpeak Proper… | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $17.86 | $90.80 | $226.50 |
| # AnalystsCovering analysts | 40 | 32 | 34 |
| Dividend YieldAnnual dividend ÷ price | +7.4% | +2.1% | +1.3% |
| Dividend StreakConsecutive years of raises | 1 | 1 | 2 |
| Dividend / ShareAnnual DPS | $1.22 | $1.86 | $2.76 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.8% | 0.0% | 0.0% |
Evenly matched — DOC and WELL each lead in 1 of 2 comparable metrics.
Key Takeaway
WELL leads in 2 of 6 categories (Profitability & Efficiency, Total Returns). DOC leads in 1 (Valuation Metrics). 2 tied.
Best OverallWelltower Inc. (WELL)Leads 2 of 6 categories
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DOC vs VTR vs WELL: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is DOC or VTR or WELL a better buy right now?
For growth investors, Welltower Inc.
(WELL) is the stronger pick with 35. 8% revenue growth year-over-year, versus 4. 5% for Healthpeak Properties, Inc. (DOC). Welltower Inc. (WELL) offers the better valuation at 154. 2x trailing P/E (78. 9x forward), making it the more compelling value choice. Analysts rate Healthpeak Properties, Inc. (DOC) a "Buy" — based on 40 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — DOC or VTR or WELL?
On trailing P/E, Welltower Inc.
(WELL) is the cheapest at 154. 2x versus Healthpeak Properties, Inc. at 165. 1x. On forward P/E, Welltower Inc. is actually cheaper at 78. 9x.
03Which is the better long-term investment — DOC or VTR or WELL?
Over the past 5 years, Welltower Inc.
(WELL) delivered a total return of +212. 6%, compared to -23. 9% for Healthpeak Properties, Inc. (DOC). Over 10 years, the gap is even starker: WELL returned +230. 2% versus DOC's +9. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — DOC or VTR or WELL?
By beta (market sensitivity over 5 years), Ventas, Inc.
(VTR) is the lower-risk stock at 0. 01β versus Healthpeak Properties, Inc. 's 0. 52β — meaning DOC is approximately 5359% more volatile than VTR relative to the S&P 500. On balance sheet safety, Welltower Inc. (WELL) carries a lower debt/equity ratio of 49% versus 126% for Healthpeak Properties, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — DOC or VTR or WELL?
By revenue growth (latest reported year), Welltower Inc.
(WELL) is pulling ahead at 35. 8% versus 4. 5% for Healthpeak Properties, Inc. (DOC). On earnings-per-share growth, the picture is similar: Ventas, Inc. grew EPS 184. 2% year-over-year, compared to -72. 2% for Healthpeak Properties, Inc.. Over a 3-year CAGR, WELL leads at 22. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — DOC or VTR or WELL?
Welltower Inc.
(WELL) is the more profitable company, earning 8. 8% net margin versus 2. 5% for Healthpeak Properties, Inc. — meaning it keeps 8. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: DOC leads at 19. 3% versus 3. 3% for WELL. At the gross margin level — before operating expenses — WELL leads at 39. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is DOC or VTR or WELL more undervalued right now?
On forward earnings alone, Welltower Inc.
(WELL) trades at 78. 9x forward P/E versus 118. 3x for Ventas, Inc. — 39. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for DOC: 8. 2% to $17. 86.
08Which pays a better dividend — DOC or VTR or WELL?
All stocks in this comparison pay dividends.
Healthpeak Properties, Inc. (DOC) offers the highest yield at 7. 4%, versus 1. 3% for Welltower Inc. (WELL).
09Is DOC or VTR or WELL better for a retirement portfolio?
For long-horizon retirement investors, Ventas, Inc.
(VTR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 01), 2. 1% yield). Both have compounded well over 10 years (VTR: +67. 4%, DOC: +9. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between DOC and VTR and WELL?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: DOC is a mid-cap income-oriented stock; VTR is a mid-cap high-growth stock; WELL is a mid-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(DOC: 7.1% · VTR: 22.0%)Net Margin>
%
(DOC: 7.7% · VTR: 4.2%)P/E Ratio<
x
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