BXP vs. DOC: BXP vs. Healthpeak Properties Stock Comparison

Company Profile

BXP (BXP) and Healthpeak Properties (DOC) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but BXP is classified in Office REITs while DOC is classified in Health Care REITs.

Both BXP (BXP) and Healthpeak Properties (DOC) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Both BXP (BXP) at 8.96% and Healthpeak Properties (DOC) at 4.42% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

Neither BXP (BXP) in Equity Real Estate Investment Trusts (REITs) nor Healthpeak Properties (DOC) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.

Neither side reports a meaningful operating margin: for BXP (BXP) in Equity Real Estate Investment Trusts (REITs) and Healthpeak Properties (DOC) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

Both BXP (BXP) at 2.19% and Healthpeak Properties (DOC) at 4.52% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

EPS growth isn't a meaningful figure for either BXP (BXP) in Equity Real Estate Investment Trusts (REITs) or Healthpeak Properties (DOC) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Both BXP (BXP) at 0.70 and Healthpeak Properties (DOC) at 1.48 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

Healthpeak Properties (DOC) at 0.90 carries an industry-typical debt-to-equity mix, while BXP (BXP) at 2.22 uses more debt funding than most peers.

Financial Strength Metrics

Dividends

Healthpeak Properties (DOC) at 6.06% delivers top-quartile income for its industry, while BXP (BXP) at 4.29% pays a more typical yield — both are credible income propositions, DOC the richer one.

An earnings-based payout ratio fits neither BXP (BXP) in Equity Real Estate Investment Trusts (REITs) nor Healthpeak Properties (DOC) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.

Dividend Metrics

Valuation

P/E ratio is not a meaningful valuation yardstick for either BXP (BXP) in Equity Real Estate Investment Trusts (REITs) or Healthpeak Properties (DOC) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

On P/S ratio, both BXP (BXP) at 3.38 and Healthpeak Properties (DOC) at 4.80 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

On P/B ratio, both BXP (BXP) at 2.00 and Healthpeak Properties (DOC) at 1.78 are valued close to their industries’ norm against book — neither stands out from peers.

Valuation Metrics