DOC vs. WELL: Healthpeak Properties vs. Welltower Stock Comparison

Company Profile

Healthpeak Properties (DOC) and Welltower (WELL) are both classified in the Health Care REITs sub-industry within the broader Health Care REITs industry, placing them in the closest GICS peer bucket.

Both Healthpeak Properties (DOC) and Welltower (WELL) 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 Healthpeak Properties (DOC) at 4.42% and Welltower (WELL) at 3.92% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

Neither Healthpeak Properties (DOC) in Equity Real Estate Investment Trusts (REITs) nor Welltower (WELL) 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 Healthpeak Properties (DOC) in Equity Real Estate Investment Trusts (REITs) and Welltower (WELL) 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

Welltower (WELL) at 35.82% clears its industry range for revenue growth, far stronger top-line momentum than Healthpeak Properties (DOC) at 4.52%, which is closer to a typical peer reading.

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

Growth Metrics

Financial Strength

Both Healthpeak Properties (DOC) at 1.48 and Welltower (WELL) at 1.66 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

Welltower (WELL) at 0.42 keeps leverage in the lower industry quartile, while Healthpeak Properties (DOC) at 0.90 runs a more typical debt-to-equity mix.

Financial Strength Metrics

Dividends

Healthpeak Properties (DOC) at 6.06% offers top-quartile income, while Welltower (WELL) at 1.30% sits in the bottom quartile — a wide gap in cash returned to shareholders.

An earnings-based payout ratio fits neither Healthpeak Properties (DOC) in Equity Real Estate Investment Trusts (REITs) nor Welltower (WELL) 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 Healthpeak Properties (DOC) in Equity Real Estate Investment Trusts (REITs) or Welltower (WELL) 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 Welltower (WELL) at 13.03 sits in the pricier quartile — WELL 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 Welltower (WELL) at 3.69 carries an above-peer premium to book — WELL is pricier on assets.

Valuation Metrics