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Healthpeak Properties, Inc. (DOC)

Healthpeak owns, operates and develops real estate for healthcare discovery and delivery in the United States: outpatient medical buildings, hospitals, laboratory buildings and senior housing. It was founded in 1985, is a Maryland corporation and a self-administered REIT, and is structured as an umbrella partnership REIT with substantially all assets and operations held through Healthpeak OP. Head office is in Denver.

Healthpeak Properties, Inc.

Healthpeak owns, operates and develops real estate for healthcare discovery and delivery in the United States: outpatient medical buildings, hospitals, laboratory buildings and senior housing. It was founded in 1985, is a Maryland corporation and a self-administered REIT, and is structured as an umbrella partnership REIT with substantially all assets and operations held through Healthpeak OP. Head office is in Denver.

Three core asset classes

Outpatient medical, lab, and senior housing. In outpatient medical and lab the company owns, operates and develops the buildings itself. In senior housing the properties are operated through RIDEA structures.

At the end of 2025 the portfolio, including properties in certain unconsolidated joint ventures, was interests in 689 properties: 507 outpatient medical, 145 lab, 34 senior housing and three in other non-reportable segments.

The non-reportable segments hold loans receivable, a preferred equity investment and three other properties.

Where the outpatient medical portfolio came from

On 1 March 2024 Healthpeak completed a merger with Physicians Realty Trust, which brought in 299 outpatient medical buildings.

The senior housing business is being separated

In December 2025 Healthpeak confidentially submitted a draft registration statement to the SEC for a proposed initial public offering of a newly formed company, Janus Living. The filing states that Janus Living will be devoted to senior housing and intends to elect and qualify to be taxed as a REIT; that Healthpeak will contribute its 34-community, 10,422-unit senior housing portfolio to it in exchange for a majority ownership interest; that immediately after the offering Healthpeak will serve as its external manager and intends to retain a substantial majority interest, with new public shareholders owning the remainder; and that based on the anticipated ownership share and the terms of the management agreement Healthpeak expects to continue to consolidate Janus Living afterwards. The company says it expects to complete the offering in the first half of 2026, subject to market conditions, regulatory approvals, related financings, the SEC's review and other customary conditions.

The segments were recast because of that

During the fourth quarter of 2025, in connection with the planned offering, the chief operating decision maker, who is the president and chief executive, began evaluating the life plan communities, formerly called continuing care retirement communities, together with an unconsolidated joint venture with a sovereign wealth fund holding 19 senior housing properties, as a single operating and reportable segment called senior housing. In the same quarter two properties were moved out of the outpatient medical segment into the other non-reportable segments because they do not share the characteristics of the outpatient medical portfolio. All prior period segment information has been recast to match.

What the company watches

The filing says it continuously monitors the effects of domestic and global events on its own position and on that of its tenants, operators and borrowers, and names inflation among the conditions that could negatively affect the business.

From Healthpeak Properties' annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Healthpeak Properties became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 3 November 2026
Revenue
$821 million
+16.3% on the year · +6.4% on the quarter
Q4 FY2024Q3 FY2026
Net income
$17 million
-67.3% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.02
-75.0% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Last full yearFY2025ended 31 December 2025 · 10-K filed 3 February 2026
Revenue
$2.8 billion
+4.5% on the year
FY2018FY2025
Net income
$71 million
-70.7% on the year
FY2018FY2025
Diluted EPS
$0.10
-72.2% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsHealthpeak Properties (DOC) reported revenue of $2.8 billion for fiscal 2025, the year ended 31 December 2025, up 4.5% on the year before. Net income was $71 million and diluted earnings per share $0.10. Revenue was $2.7 billion in fiscal 2024, $2.2 billion in fiscal 2023, $2.1 billion in fiscal 2022 and $1.9 billion in fiscal 2021. Net income in the same years was $243 million, $306 million, $500 million and $506 million. Over the twelve months to 30 September 2026, Healthpeak Properties reported revenue of $3.1 billion and net income of $378 million. Revenue grew 11.4% a year, compounded, over the five years to fiscal 2025. Healthpeak Properties declared $1.22 a share in dividends over the last four quarters and had 690 million shares outstanding at the latest filed count. At the close of 6 November 2026 the market cap of Healthpeak Properties was $14.0 billion, 37.6 times its earnings over the last twelve months.

Ratios

From the filings

ROE4.8%
ROCE0.7%
Operating margin4.0%
Net margin12.3%
FCF margin19.9%
Interest cover0.36x
Debt to equity1.19x
Cash conversion3.36x
Share count, last 12 months-0.8%
Sales CAGR, 3 years11.0%
Profit CAGR, 3 years-47.8%
EPS, TTM$0.54

At the close of 6 November 2026

Price$20.28
Market cap$14.0 billion
Stock P/E37.6x
Price to book1.8x
EV / EBITDA18.2x
Dividend yield6.0%
Market cap / sales4.6x
52-week high$22.82
52-week low$15.78
Price, 1 year15.5%
Price CAGR, 3 years7.4%
Price CAGR, 5 years-9.9%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Healthpeak Properties, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
DOCgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue483498518520524526545556554607696700698703694706719753772821
Cost of revenue199207215220220223222233224244274280277273276292n/an/an/an/a
Gross profit284291303300304303324324329363422420421430418414n/an/an/an/a
Gross margin59%58%58%58%58%58%59%58%59%60%61%60%60%61%60%59%n/an/an/an/a
Operating income24.151.555.054.211.050.647.865.957.4-59.329.335.229.960.442.752.658.65.632.625.6
Operating margin5%10%11%10%2%10%9%12%10%-10%4%5%4%9%6%7%8%1%4%3%
Interest expense36.637.641.944.149.448.049.150.552.860.974.974.170.572.775.176.880.687.392.383.9
Pre-tax income25.573.768.23569.413354.667.360.022.515598.5-3.254.339.765.212519659.334.2
Tax rate-7%1%-1%-1%-7%0%2%1%-20%61%2%2%n/a4%6%-2%5%0%-2%4%
Net income28.871.668.33546.511951.964.270.96.714685.94.542.831.7-11711419452.817.3
Net margin6%14%13%68%1%23%10%12%13%1%21%12%1%6%5%-17%16%26%7%2%
Diluted EPS$0.05$0.13$0.13$0.65$0.01$0.22$0.09$0.12$0.13$0.01$0.21$0.12$0.01$0.06$0.05-$0.17$0.16$0.28$0.08$0.02
Operating cash flow224194255244207174298253231153316318284279363315294261361354
Capital expenditure180178188250245205189188149107122170198166158223217142157145
Free cash flow43.915.967.4-6.8-37.9-31.010964.982.545.519414885.411320592.277.5119204210
Buybacks0.311.40.356.00.26.50.00.00.010268.220.10.325.072.10.00.11.41000.1
Dividends paid162163162162161165164164164164211210210213212212212212210210
Shares outstanding539m540m540m538m547m547m547m547m547m704m700m699m699m699m695m695m695m695m689m690m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2007 †FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013FY2014 †FY2015 †FY2016 †FY2017FY2018 †FY2019 †FY2020 †FY2021FY2022FY2023FY2024 †FY2025TTM
Revenue9461,1451,1461,2401,6941,8802,1001,6371,9402,1291,8481,1911,2401,6451,8962,0612,1812,7002,8233,065
Cost of revenuen/an/an/an/an/an/an/an/an/a7386663794057837738639021,075n/an/a
Gross profitn/an/an/an/an/an/an/an/an/a1,3911,1828138358621,1231,1981,2791,626n/an/a
Gross marginn/an/an/an/an/an/an/an/an/a65.3%64.0%68.2%67.3%52.4%59.2%58.1%58.6%60.2%n/an/a
Operating income90.420093.336647874283426211424576.637.969.7-64.415717222235.1214122
Operating margin9.6%17.4%8.1%29.6%28.2%39.5%39.7%16.0%5.9%11.5%4.1%3.2%5.6%-3.9%8.3%8.3%10.2%1.3%7.6%4.0%
Interest expense355348299286415416435440480464308261218218158173200280305344
Pre-tax income125225101383491745852-3.66.611.410.9-2.6-8.6218128507315273284414
Income tax1.44.21.90.41.3-1.75.8-0.5-9.84.5-1.3-4.4-5.5-9.4-3.3-4.4-9.64.39.36.2
Effective tax rate1.2%1.9%1.9%0.1%0.3%-0.2%0.7%n/a-148.8%39.4%-12.2%n/an/a-4.3%-2.5%-0.9%-3.1%1.6%3.3%1.5%
Net income589448132331539833971922-5596284141,06145.541450650030624371.3378
Net margin62.3%39.2%11.5%26.7%31.8%44.3%46.2%56.3%-28.8%29.5%22.4%89.1%3.7%25.1%26.7%24.3%14.0%9.0%2.5%12.3%
Diluted EPS$2.70$1.79$0.40$1.00$1.29$1.90$2.13$2.00-$1.21$1.34$0.88$2.24$0.09$0.77$0.93$0.92$0.56$0.36$0.10$0.54
Filing8-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2009 to FY2025

FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Outpatient Medicaln/an/an/an/an/an/an/an/an/an/an/an/a6717257531,1851,27446.5%
Labn/an/an/an/an/an/an/an/an/an/an/an/a71681887888186031.4%
Senior housing341372519624760n/an/an/an/an/an/an/an/an/an/a56860422.1%
CCRCn/an/an/an/an/an/an/an/an/a0.03.0436471495527n/an/an/a
Hospital12212280.281.273.0n/an/an/an/an/an/an/an/an/an/an/an/an/a
Life Science255277288290297314343359359395441569n/an/an/an/an/an/a
Medical Office309312320335354368415446512596621622n/an/an/an/an/an/a
Other non-reportablen/an/an/an/an/an/an/an/an/a20017516.737.8n/an/an/an/an/a
Other non-reportable segmentsn/an/an/an/an/a173236215138n/an/an/an/an/an/an/an/an/a
Post-acute/skilled119158487550615n/an/an/an/an/an/an/an/an/an/an/an/an/a
SHOPn/an/an/an/an/a244518687525n/an/an/an/an/an/an/an/an/a
Senior housing triple-netn/an/an/an/an/a538428423314n/an/an/an/an/an/an/an/an/a
Not assigned to a part in the filingn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a65.985.0n/a
Outpatient Medical FY2021 to FY2025Lab FY2021 to FY2025Senior housing FY2009 to FY2025CCRC FY2019 to FY2023Other non-reportable FY2018 to FY2021Medical Office FY2009 to FY2020Life Science FY2009 to FY2020SHOP FY2014 to FY2017Senior housing triple-net FY2014 to FY2017Other non-reportable segments FY2014 to FY2017Post-acute/skilled FY2009 to FY2013Hospital FY2009 to FY2013
1,240FY20102,100FY20132,129FY20161,240FY20192,038FY20222,738FY2025

$ million; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Not assigned to a part in the filing is the company's own eliminations and corporate items, which take the parts to revenue: shown as filed, with no share and no block in the chart.

Profit by segment FY2015 to FY2023

The profit before tax each segment reports. Costs Healthpeak Properties does not charge to a segment are left out, so the segments can add up to more than the company's own profit before tax.

FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023Margin
FY2023
Labn/an/an/an/an/an/a24362138143.3%
Outpatient Medicaln/an/an/an/an/an/a35520821628.6%
CCRCn/an/an/a0.0-4.944.7-41.9-43.6-26.6-5.0%
Other non-reportablen/an/an/a78.519040.236.611.032.0n/a
Life Science0.00.00.0961168198n/an/an/an/a
Medical Office0.00.00.0198184276n/an/an/an/a
Other non-reportable segments6.611.410.9n/an/an/an/an/an/an/a
SHOP0.00.00.0n/an/an/an/an/an/an/a
Senior housing triple-net0.00.00.0n/an/an/an/an/an/an/a
Outpatient Medical FY2021 to FY2023Medical Office FY2018 to FY2020Lab FY2021 to FY2023Life Science FY2018 to FY2020CCRC FY2019 to FY2023Other non-reportable FY2018 to FY2023Other non-reportable segments FY2015 to FY2017
6.6FY201510.9FY2017538FY2019593FY2021602FY2023

$ million; the figure over a bar is all the segments together; a year a segment lost money, it hangs below the line. Hover a block for its profit, sales and margin.

FY2023Share of salesShare of profit
Lab41%61%
Outpatient Medical35%34%
CCRC24%a loss
Other non-reportable0%5%

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has a profit before tax figure. A margin is a segment's profit before tax over its own sales.

Cash flow

FY2007 †FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013FY2014 †FY2015 †FY2016 †FY2017FY2018 †FY2019 †FY2020 †FY2021FY2022FY2023FY2024 †FY2025TTM
Operating cash flow4535695165807241,0351,1491,2491,2221,2148478498467587959009561,0701,2521,271
Capital expendituren/an/an/a92.885.1134130273385459472561677789760962775737895661
Free cash flown/an/an/a4886399011,019976837755375288169-30.535.5-61.7182334357610
Free cash flow marginn/an/an/a39.3%37.7%47.9%48.5%59.6%43.2%35.5%20.3%24.2%13.6%-1.9%1.9%-3.0%8.3%12.4%12.6%19.9%
Cash from investing-2,888427-61.4-431-4,580-2,314-197-1,512-1,660-4291,2461,829-1,449-1,008531-876-577-114-1,035-2,985
Cash from financing2,473-1,035-4007752,8531,493-900145614-1,054-2,148-2,621647246-1,289-117-337-9411362,160
Depreciation and amortisation2573123163073463544234555055685354054355546847117501,0571,0591,134
Share-based compensation11.413.814.414.920.023.340.021.926.122.914.316.618.217.418.226.514.515.514.418.2
Buybacksn/an/an/an/an/an/an/a12.78.78.74.83.45.010.512.867.86.519197.1102
Dividends paid3944585175917888659571,0021,047980695697720787650648657795849844
Dividend per share$1.78$1.82$1.84$1.86$1.92$2.00$2.10$2.18$2.26$2.10$1.48$1.48$1.48$1.48$1.20$1.20$1.20$1.20$1.22n/a
Diluted shares, weighted209m238m275m307m400m428m456m459m463m467m469m475m489m531m539m539m547m676m696m690m
Shares outstanding at period endn/a254m294m371m409m453m457m460m465m468m469m477m505m538m539m547m547m699m695m690m
Filing8-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2007 †FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013FY2014 †FY2015 †FY2016 †FY2017FY2018 †FY2019 †FY2020 †FY2021FY2022FY2023FY2024 †FY2025TTM
Funded by
Shareholders' equity4,4435,2015,7817,9579,03310,55110,72310,7359,3445,5485,3015,9446,0856,7346,5156,6556,3508,4017,5007,866
Non-controlling interestn/a2071781891872032082624033942945685825565435285266546432,912
Redeemable equityn/an/an/an/an/an/an/an/an/an/an/a0.011.157.487.310648.82.616027.4
Debtn/an/an/a4,6467,6738,6828,6629,72111,0699,1897,8805,5686,2996,6176,1706,4986,8768,7169,8489,382
Other liabilitiesn/a6,4426,2515405154794836526356286136381,0551,9561,9411,9851,8982,1652,1862,224
Total liabilities and equityn/a11,85012,21013,33217,40819,91620,07621,37021,45015,75914,08812,71914,03315,92015,25815,77115,69919,93820,33622,412
Owned
Goodwilln/an/a50.350.350.350.350.350.347.042.047.047.017.018.018.018.018.068.568.568.5
Intangible assetsn/a506390316372553490481587480410305260520520418314817655918
Securities held for sale or to maturityn/an/a173n/a17.122324423110368.6n/an/an/an/an/an/an/an/an/an/a
Loansn/a1,0681,6732,00311027636690776980831363.0191195416375218656606284
Cash and equivalents96.357.61121,03733.524830118234094.755.354.080.444.215872.0118120467514
Other assetsn/a10,2189,8129,92616,82518,56618,62519,51819,60414,26613,26312,24913,48515,14314,14614,88815,03118,27718,53920,627
Total assetsn/a11,85012,21013,33217,40819,91620,07621,37021,45015,75914,08812,71914,03315,92015,25815,77115,69919,93820,33622,412
Filing8-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded3.8%11.4%11.0%9.4%
Profit growth, compoundedn/a-29.6%-47.8%n/a
Return on equity, average6.8%4.8%2.9%1.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Healthpeak Properties' revenue in fiscal 2025?

Healthpeak Properties (DOC) reported revenue of $2.8 billion for fiscal 2025, the year ended 31 December 2025, up 4.5% on the year before.

How much did Healthpeak Properties earn in fiscal 2025?

Net income was $71 million for fiscal 2025, and diluted earnings per share $0.10.

What is Healthpeak Properties' P/E ratio?

At the close of 6 November 2026, Healthpeak Properties traded at 37.6 times its earnings over the twelve months to 30 September 2026.

What is Healthpeak Properties' market cap?

The market cap of Healthpeak Properties was $14.0 billion at the close of 6 November 2026.

Does Healthpeak Properties pay a dividend?

Yes. Healthpeak Properties declared $1.22 a share in dividends over the four quarters to 30 September 2026.

Peers: Trading

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Digital Realty Trust, Inc. DLR$65.3 billion72.893.3%16.2%20.0%0.69n/a
Public Storage PSA$63.1 billion35.3413.1%34.5%5.2%0.843.6%
Realty Income Corp. O$56.2 billion40.723.4%20.5%10.8%0.795.5%
Ventas, Inc. VTR$46.9 billion167.461.7%3.2%22.1%0.792.3%
Crown Castle Inc. CCI$37.7 billion46.63n/a47.1%-15.7%n/a4.8%
Extra Space Storage Inc. EXR$33.2 billion32.358.1%43.8%4.1%1.044.1%
Iron Mountain Inc. IRM$31.7 billion69.58n/a19.5%17.5%n/a3.2%
All 181 in Trading
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Morgan Stanley MS$284.0 billion14.4017.5%n/a16.2%3.322.3%
Goldman Sachs Group Inc. GS$249.8 billion12.4417.7%n/a18.7%3.562.1%
BlackRock, Inc. BLK$182.3 billion26.8111.9%32.5%24.7%0.221.9%
Welltower Inc. WELL$179.3 billion106.063.4%-1.9%39.2%0.401.3%
Charles Schwab Corp. SCHW$157.9 billion15.6120.7%n/a18.1%0.461.3%
Prologis, Inc. PLD$120.7 billion28.037.6%54.8%7.2%0.663.3%
CME Group Inc. CME$109.7 billion25.1016.8%65.7%9.0%0.133.7%
Equinix Inc. EQIX$100.2 billion60.7911.3%22.5%11.1%1.572.0%
Intercontinental Exchange, Inc. ICE$96.1 billion23.5013.9%40.6%12.1%0.781.2%
Blackstone Inc. BX$90.8 billion26.5640.2%47.9%22.1%1.533.9%
American Tower Corp. AMT$87.7 billion26.6394.2%44.8%5.3%10.693.7%
KKR & Co. Inc. KKR$86.6 billion30.7210.2%n/a31.1%1.720.8%
Brookfield Asset Management Ltd. BAM$84.6 billionn/an/a58.6%31.9%0.38n/a
Simon Property Group Inc. SPG$73.9 billion16.48110.4%45.9%16.2%6.963.9%
Robinhood Markets, Inc. HOOD$72.9 billion37.2919.7%45.7%20.9%0.26n/a
Apollo Global Management, Inc. APO$69.0 billionn/a-5.8%9.8%12.2%0.921.8%
Digital Realty Trust, Inc. DLR$65.3 billion72.893.3%16.2%20.0%0.69n/a
Public Storage PSA$63.1 billion35.3413.1%34.5%5.2%0.843.6%
Nasdaq, Inc. NDAQ$59.8 billion29.2717.4%29.7%11.9%0.731.1%
Realty Income Corp. O$56.2 billion40.723.4%20.5%10.8%0.795.5%
Ventas, Inc. VTR$46.9 billion167.461.7%3.2%22.1%0.792.3%
Ameriprise Financial Inc. AMP$43.6 billion11.2981.4%26.8%10.0%1.17n/a
Ares Management Corp. ARES$42.0 billionn/a11.3%17.7%7.6%2.033.9%
Crown Castle Inc. CCI$37.7 billion46.63n/a47.1%-15.7%n/a4.8%
Cboe Global Markets, Inc. CBOE$36.8 billion25.1125.0%36.4%14.3%0.240.9%
Interactive Brokers Group, Inc. IBKR$34.4 billion29.1618.9%n/a19.7%n/a0.4%
Extra Space Storage Inc. EXR$33.2 billion32.358.1%43.8%4.1%1.044.1%
Iron Mountain Inc. IRM$31.7 billion69.58n/a19.5%17.5%n/a3.2%
Raymond James Financial Inc. RJF$31.3 billion14.1918.2%n/a10.5%0.071.3%
Tradeweb Markets Inc. TW$29.7 billion29.9913.7%44.1%14.4%0.000.4%
Nomura Holdings Inc. NMR *$27.3 billion12.459.8%n/a14.0%n/a4.4%
Vici Properties Inc. VICI$27.3 billion11.378.1%n/a4.7%0.587.3%
Vivmark Residential VMRK$24.6 billion28.488.3%28.2%2.8%0.794.3%
T. Rowe Price Group, Inc. TROW$23.1 billion10.9619.2%32.0%6.9%0.004.8%
LPL Financial Holdings Inc. LPLA$23.0 billion16.9524.0%9.2%31.0%1.340.4%
Royal Gold Inc. RGLD$22.5 billion26.7910.8%62.0%105.2%0.020.7%
Pershing Square Inc. PS$20.6 billionn/a-9.0%0.2%n/a0.21n/a
SBA Communications Corp. SBAC$19.8 billion20.45n/a47.7%2.3%n/a2.6%
Texas Pacific Land Corp. TPL$18.8 billion32.0032.6%75.5%25.3%0.000.9%
TPG Inc. TPG$17.9 billion59.186.8%n/a18.8%0.574.8%
Essex Property Trust, Inc. ESS$17.5 billion50.556.6%29.5%4.5%1.253.8%
Franklin Templeton Inc. BEN$17.1 billion22.976.9%9.7%7.9%0.203.9%
Kimco Realty Corp. KIM$17.0 billion23.847.4%40.1%3.5%0.834.2%
Host Hotels & Resorts, Inc. HST$16.9 billion17.9814.8%14.8%5.0%0.806.1%
Lamar Advertising Co. LAMR$15.8 billion27.5155.8%32.1%5.1%3.394.3%
Blue OWL Capital Inc. OWL$15.4 billion70.144.9%-105.8%119.9%1.898.7%
Weyerhaeuser Co. WY$15.1 billion33.294.8%11.7%-1.1%0.574.0%
W. P. Carey Inc. WPC$15.0 billion22.437.4%43.8%9.0%1.005.7%
Annaly Capital Management Inc. NLY$14.7 billion13.117.1%n/a28.4%2.4314.9%
Omega Healthcare Investors Inc. OHI$14.6 billion19.3613.8%73.4%14.0%0.735.6%
Sun Communities Inc. SUI$14.4 billionn/a-14.7%4.2%2.9%0.723.7%
Carlyle Group Inc. CG$14.0 billion42.225.4%16.6%-7.6%0.463.5%
Healthpeak Properties, Inc. DOC$14.0 billion37.564.8%4.0%9.4%1.196.0%
Mid-America Apartment Communities, Inc. MAA$13.8 billion36.057.3%n/a1.0%1.105.1%
Regency Centers Corp. REG$13.7 billion26.747.7%72.0%8.4%0.724.0%
American Healthcare REIT, Inc. AHR$13.4 billion118.201.7%20.2%21.5%0.251.7%
SEI Investments Co. SEIC$12.5 billion18.3128.3%29.4%12.8%0.011.0%
Equity Lifestyle Properties Inc. ELS$12.2 billion31.0123.1%26.1%3.2%1.893.4%
Invesco Ltd. IVZ$11.9 billionn/a-2.5%-4.5%13.7%0.103.1%
Udr, Inc. UDR$11.7 billion17.2522.3%52.2%0.6%1.844.7%
American Homes 4 Rent AMH$11.7 billion26.916.7%15.2%3.5%0.773.9%
Stifel Financial Corp. SF$11.4 billion12.2816.1%n/a10.9%0.101.8%
Gaming & Leisure Properties, Inc. GLPI$11.3 billion11.8918.9%79.1%7.3%1.638.2%
Freedom Holding Corp. FRHC$11.0 billionn/an/an/an/an/an/a
Jefferies Financial Group Inc. JEF$10.9 billionn/a8.3%n/a17.7%1.723.4%
Evercore Inc. EVR$10.8 billion15.6339.2%21.3%36.6%0.281.2%
Eastgroup Properties Inc. EGP$10.4 billion32.848.9%40.8%10.4%0.513.3%
Bxp, Inc. BXP$10.4 billion19.4710.3%29.2%2.7%3.204.3%
Houlihan Lokey, Inc. HLI$10.1 billion24.4617.5%20.3%-0.4%0.001.8%
CubeSmart CUBE$10.1 billion29.8114.0%40.8%3.3%1.434.7%
Camden Property Trust CPT$10.0 billion9.2824.6%n/a-1.0%0.934.2%
Janus Living, Inc. JAN$9.9 billionn/a0.2%n/an/a0.00n/a
CareTrust REIT, Inc. CTRE$9.8 billion24.046.8%54.6%43.6%0.393.9%
Federal Realty Investment Trust FRT$9.7 billion22.5313.6%47.7%7.8%1.504.0%
Affiliated Managers Group, Inc. AMG$9.4 billion12.5628.2%15.1%11.8%0.990.0%
Brixmor Property Group Inc. BRX$9.2 billion21.9114.1%n/a5.7%1.764.1%
Ryman Hospitality Properties, Inc. RHP$9.1 billion31.8920.2%19.6%12.9%3.403.6%
Agree Realty Corp. ADC$9.1 billion36.033.5%48.9%17.7%0.543.8%
Morningstar, Inc. MORN$9.1 billion21.3343.4%24.5%9.4%1.640.8%
Lineage, Inc. LINE$8.9 billionn/a-2.1%3.6%1.0%0.795.4%
Virtu Financial, Inc. VIRT$8.4 billion7.9231.1%32.4%26.1%2.381.8%
Rexford Industrial Realty, Inc. REXR$8.1 billionn/a-6.4%39.8%-2.0%0.394.6%
NNN REIT, Inc. NNN$8.0 billion19.598.7%62.9%7.3%1.105.9%
Alexandria Real Estate Equities, Inc. ARE$7.8 billionn/a-9.7%-85.8%-9.9%0.876.4%
Victory Capital Holdings, Inc. VCTR$7.4 billion21.9218.8%40.4%36.9%0.401.6%
InterDigital, Inc. IDCC$7.4 billion31.4625.2%45.1%-12.0%0.251.0%
First Industrial Realty Trust Inc. FR$7.1 billion19.9912.9%41.6%8.5%0.963.6%
Stag Industrial, Inc. STAG$7.1 billion25.967.4%37.7%9.3%0.944.2%
Macerich Co. MAC$7.1 billionn/a-3.6%-12.0%-1.3%1.902.7%
Vornado Realty Trust VNO$6.7 billionn/a0.2%n/a1.6%1.272.1%
Healthcare Realty Trust Inc. HR$6.5 billionn/a-1.1%n/a-5.8%1.045.0%
StoneX Group Inc. SNEX$6.5 billion9.3918.5%n/a48.7%6.97n/a
Rayonier Inc. RYN$6.4 billion37.143.0%12.0%24.1%0.354.9%
Essential Properties Realty Trust, Inc. EPRT$6.2 billion22.745.8%60.6%20.4%0.664.5%
Dolby Laboratories, Inc. DLB$6.1 billion27.598.8%17.7%0.6%0.002.2%
Marketaxess Holdings Inc. MKTX$5.8 billion20.2722.9%39.1%3.9%0.071.9%
StepStone Group Inc. STEP$5.7 billionn/an/a-58.2%48.5%n/a3.1%
SSR Mining Inc. SSRM$5.7 billion24.067.7%40.9%39.4%0.00n/a
Sabra Health Care REIT, Inc. SBRA$5.5 billion75.042.5%n/a23.4%0.865.7%
Outfront Media Inc. OUT$5.4 billion21.0936.6%20.7%9.1%3.594.0%
Galaxy Digital Inc. GLXY$5.3 billionn/a-18.5%-2.3%66.0%1.55n/a
Phillips Edison & Company, Inc. PECO$5.2 billion28.157.5%n/a7.0%1.055.6%
Rithm Capital Corp. RITM$5.2 billionn/an/an/an/a3.5010.8%
Kite Realty Group Trust KRG$5.0 billion15.7112.4%17.4%-7.3%1.024.6%
Hamilton Lane Inc. HLNE$5.0 billion13.2628.2%43.7%18.9%0.27n/a
BGC Group, Inc. BGC$5.0 billion25.5718.0%4.7%27.6%1.600.8%
HA Sustainable Infrastructure Capital, Inc. HASI$5.0 billion40.525.5%n/a22.6%2.364.4%
Cousins Properties Inc. CUZ$4.9 billion328.830.3%68.3%8.5%0.804.3%
Federated Hermes, Inc. FHI$4.7 billion11.5732.5%27.8%13.2%0.272.2%
Howard Hughes Holdings Inc. HHH$4.6 billion30.714.3%18.1%42.8%1.44n/a
Americold Realty Trust COLD$4.6 billion19.307.9%15.1%1.3%1.035.7%
EPR Properties EPR$4.6 billion16.8112.7%59.0%7.3%1.436.1%
Apple Hospitality REIT, Inc. APLE$4.5 billion23.905.9%18.3%3.2%0.475.1%
Tanger Inc. SKT$4.4 billionn/an/an/an/a2.44n/a
Piper Sandler Companies PIPR$4.4 billion15.5321.9%n/a21.1%n/a3.0%
Starwood Property Trust, Inc. STWD$4.4 billionn/a-4.0%-12.7%14.4%3.4015.9%
Lazard, Inc. LAZ$4.2 billion23.2219.5%8.1%9.2%1.785.2%
Kilroy Realty Corp. KRC$4.2 billion149.250.6%n/a-3.6%0.846.0%
Cohen & Steers, Inc. CNS$3.8 billion22.4627.8%32.4%8.6%0.003.6%
Copt Defense Properties CDP$3.7 billion22.2111.0%30.2%7.2%1.673.8%
PJT Partners Inc. PJT$3.7 billion21.2552.5%20.5%10.2%0.000.7%
LXP Industrial Trust LXP$3.6 billion31.545.9%n/a-3.5%0.664.5%
SL Green Realty Corp. SLG$3.6 billionn/a-3.7%61.7%9.7%1.255.2%
Independence Realty Trust, Inc. IRT$3.5 billion57.651.8%16.6%3.1%0.724.7%
Highwoods Properties, Inc. HIW$3.5 billion18.747.8%67.2%5.4%1.486.4%
Miami International Holdings, Inc. MIAX$3.4 billion12.7724.3%10.9%n/a0.00n/a
National Health Investors Inc. NHI$3.4 billion20.5910.6%n/a23.9%0.815.2%
Broadstone Net Lease, Inc. BNL$3.4 billion23.045.1%46.0%8.0%1.016.7%
Acadian Asset Management Inc. AAMI$3.2 billion26.66n/a25.5%27.9%n/a0.3%
Artisan Partners Asset Management Inc. APAM$3.2 billion9.1669.7%33.4%8.7%0.438.1%
WisdomTree, Inc. WT$2.9 billion27.4424.8%39.9%45.2%2.380.6%
DiamondRock Hospitality Co. DRH$2.9 billion17.7710.7%16.6%2.1%0.712.9%
Acadia Realty Trust AKR$2.7 billion70.732.0%53.3%-0.3%0.784.0%
Four Corners Property Trust, Inc. FCPT$2.6 billion21.497.3%n/a10.2%0.966.3%
CoreCivic, Inc. CXW$2.5 billion1.8563.5%9.9%26.9%0.28n/a
InvenTrust Properties Corp. IVT$2.5 billion85.221.6%-7.7%12.6%0.583.1%
LTC Properties Inc. LTC$2.5 billion4.7030.8%58.5%70.4%0.605.1%
Netstreit Corp. NTST$2.4 billion85.411.1%32.5%27.1%0.604.7%
Pebblebrook Hotel Trust PEB$2.4 billionn/a-2.9%3.1%2.8%0.890.2%
SmartStop Self Storage REIT, Inc. SMA$2.2 billion67.122.9%22.9%20.7%1.00n/a
RLJ Lodging Trust RLJ$1.9 billion121.901.7%10.0%4.1%1.034.8%
Douglas Emmett Inc. DEI$1.7 billionn/a-1.1%18.8%1.8%3.147.5%
Diversified Healthcare Trust DHC$1.7 billionn/a-9.9%-2.3%-3.8%1.600.6%
Global Net Lease, Inc. GNL$1.5 billionn/a-3.4%37.9%-21.8%1.7811.0%
CBL & Associates Properties Inc. CBL$1.5 billion6.8150.8%27.2%9.0%4.76n/a
American Assets Trust, Inc. AAT$1.3 billion61.541.9%23.6%1.1%1.526.3%
Alexanders Inc. ALX$1.3 billion6.7883.9%n/a8.2%3.677.1%
UMH Properties, Inc. UMH$1.3 billion298.400.5%n/a8.5%0.976.0%
Digital Turbine, Inc. APPS$1.3 billionn/a-18.3%10.3%19.2%1.85n/a
Medical Properties Trust Inc. MPT$1.1 billion4.405.4%3.7%10.5%2.0019.9%
Easterly Government Properties, Inc. DEA$1.1 billion77.521.1%23.9%11.4%1.288.0%
Ridgepost Capital, Inc. RPC$1.1 billion31.326.8%27.2%8.2%0.921.5%
Oppenheimer Holdings Inc. OPY$974 million12.238.7%7.2%13.9%n/a0.8%
Centerspace CSR$964 million10.7311.5%56.1%-6.0%1.025.4%
Orchid Island Capital, Inc. ORC$960 million98.60-0.5%95.7%74.8%9.2126.8%
Empire State Realty Trust, Inc. ESRT$918 million265.250.3%-4.4%2.0%2.142.6%
Abacus Global Management, Inc. ABX$852 million32.526.5%31.8%65.3%0.76n/a
Virtus Investment Partners, Inc. VRTS$846 million7.2812.7%15.7%-7.2%0.447.5%
CTO Realty Growth, Inc. CTO$783 million17.726.5%37.5%15.9%1.05n/a
Summit Hotel Properties, Inc. INN$755 millionn/a-2.5%9.9%2.4%1.654.6%
Safehold Inc. SAFE$749 million6.584.7%24.9%16.5%1.956.7%
Postal Realty Trust, Inc. PSTL$742 million38.904.7%38.2%22.3%0.944.4%
JBG Smith Properties JBGS$739 millionn/a-20.4%0.8%3.0%2.545.6%
Chatham Lodging Trust CLDT$722 million96.882.2%13.4%3.8%0.562.5%
Saul Centers, Inc. BFS$709 million31.0411.6%66.7%9.2%5.588.3%
PennyMac Mortgage Investment Trust PMT$685 million17.094.6%22.3%-11.5%1.7920.4%
Service Properties Trust SVC$674 million14.03-65.1%-6.1%-15.6%6.352.9%
Chimera Investment Corp. CIM$613 millionn/a-7.9%n/a12.4%4.0923.5%
Brandywine Realty Trust BDN$553 millionn/a-21.5%19.0%3.5%3.739.8%
Universal Health Realty Income Trust UHT$544 million26.9914.5%35.9%-0.0%2.847.6%
TPG RE Finance Trust, Inc. TRTX$512 million17.314.4%n/a-2.4%4.1014.2%
Franklin BSP Realty Trust, Inc. FBRT$470 millionn/a1.4%n/a16.4%2.9215.4%
One Liberty Properties Inc. OLP$446 million18.668.6%48.3%10.7%1.838.5%
BrightSpire Capital, Inc. BRSP$416 million23.862.2%27.0%2.5%2.9819.2%
NexPoint Residential Trust, Inc. NXRT$415 millionn/a-16.6%10.6%0.7%7.2413.0%
Industrial Logistics Properties Trust ILPT$397 millionn/a-14.9%33.7%3.5%9.854.2%
Farmland Partners Inc. FPI$369 million55.002.3%12.4%-5.6%0.5615.8%
Arbor Realty Trust Inc. ABR$299 millionn/a-4.2%n/a-12.9%4.4158.6%
Apollo Commercial Real Estate Finance, Inc. ARI$297 million2.9010.5%35.1%-14.7%n/a43.1%
Mesabi Trust MSB$226 million34.8836.9%n/a-87.6%0.00n/a
North European Oil Royalty Trust NRT$65 millionn/an/an/an/an/an/a
115 companies share its SEC industry code (Real Estate Investment Trusts); the rest are the names nearest in size in its wider industry, Trading, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on DOC

Dividends$1.22 a share over the four quarters to 30 September 2026, a 6.02% yield
Filings14 in twelve months: 7 current reports (8-K), about 5 regulation FD disclosure; 4 results of operations; 1 shareholder vote; 1 material agreement; 1 new financial obligation
Planned insider sales1 Form 144 notice in twelve months, $213,741; latest 12 May 2026
Options tapeput/call 0.48 by open interest at the 6 November 2026 close; the straddle prices a 4.4% move to 20 November 2026
13F holders768 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading1 sale and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest21.7 million shares short, 3.45 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 20263 November 2026EDGAR
10-Q30 June 20265 August 2026EDGAR
10-Q31 March 20266 May 2026EDGAR
10-K31 December 20253 February 2026EDGAR
10-Q30 September 202524 October 2025EDGAR
10-Q30 June 202525 July 2025EDGAR
10-Q31 March 202525 April 2025EDGAR
10-K31 December 20244 February 2025EDGAR
10-Q30 September 202425 October 2024EDGAR
10-Q30 June 202426 July 2024EDGAR

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