DOC - Healthpeak: A Qualitative Play For 2024E
2024-04-01 09:11:27 ET
Summary
- Healthpeak (formerly known as DOC) is a healthcare REIT with a diverse portfolio of life science properties, outpatient medical care facilities, and continuing care retirement communities.
- The company has a low valuation and offers a high yield of close to 7%, providing a good rate of safety for investors.
- The recent merger with Physicians Realty Trust brings additional synergies and potential for cash flow growth in the future.
Dear readers/subscribers,
I covered Healthpeak (DOC) about 2 months ago in our private investment group, iREIT on Alpha. With its diverse portfolio of life science properties, outpatient medical care facilities, and continuing care retirement communities, it has a very interesting mix of assets, and is one of the more interesting healthcare REIT plays that we can see here.
Like with many other REITs, this company is unlikely to see significant AFFO growth in the near term - by that I mean that a sub-6% annual growth in AFFO is likely. The combined upside from these investments comes in the shape of two things - first off, the low valuation for the investment that they are currently trading at. Like other players in the space, on a historical basis, PEAK is quite undervalued to where it typically trades....
Healthpeak: A Qualitative Play For 2024E