CUBE vs. DOC: CubeSmart vs. Healthpeak Properties Stock Comparison

Company Profile

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

Both CubeSmart (CUBE) 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

CubeSmart (CUBE) at 12.78% sits in the top ROE quartile, while Healthpeak Properties (DOC) at 4.42% is closer to the peer norm — stronger capital efficiency for CUBE.

Neither CubeSmart (CUBE) 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 CubeSmart (CUBE) 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 CubeSmart (CUBE) at 5.33% 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 CubeSmart (CUBE) 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

Healthpeak Properties (DOC) at 1.48 keeps current ratio within its industry’s typical mid-range, while CubeSmart (CUBE) at 0.17 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for CUBE.

Both CubeSmart (CUBE) at 1.42 and Healthpeak Properties (DOC) at 0.90 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

Financial Strength Metrics

Dividends

Healthpeak Properties (DOC) at 6.06% delivers top-quartile income for its industry, while CubeSmart (CUBE) at 4.67% pays a more typical yield — both are credible income propositions, DOC the richer one.

An earnings-based payout ratio fits neither CubeSmart (CUBE) 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 CubeSmart (CUBE) 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.

Healthpeak Properties (DOC) at 4.80 is priced about in line with its industry on P/S ratio, while CubeSmart (CUBE) at 8.80 sits in the pricier quartile — CUBE costs more per dollar of sales.

Healthpeak Properties (DOC) at 1.78 is valued about in line with its industry on P/B ratio, while CubeSmart (CUBE) at 4.06 carries an above-peer premium to book — CUBE is pricier on assets.

Valuation Metrics