Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.73, read 2026-10-27
Ethical does not pass the values gate
Price19.25 USD
Fair value12.10
Ethical score10.0/100
RatingAVOID
Our investment reviews on this name
2026-10-23Read Distribution18.98+1.4% to today Markdown gives way to Distribution after a 6% slide in 3 weeks
2026-10-02Read Markdown20.10-4.2% to today ✓Distribution gives way to Markdown after a 6% slide in 5 weeks
2026-08-27Read Distribution21.40-10.0% to today ✓Markup gives way to Distribution after an 8% rise in 8 weeks
2026-07-02Read Markup19.79-2.7% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Healthpeak Properties holds its Distribution at $19.25. The statistical read favours the sellers, held for 64 days.
As held on the ledger · 2026-10-23
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 64 days
Price at the screen
$19.25
Valuation
54.23 trailing · 135.57 forward price to earnings
Values screen
FAIL· score 10.0
Beta
0.99
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
49.88%
Below 33%
Interest-bearing debt is 49.9% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
3.95%
Below 33%
Cash held in interest-bearing accounts and securities is 3.9% of assets, under the one-third limit.
Pass
Receivables
2.68%
Below 49%
Money owed to the company is 2.7% of assets, under the 49% limit.
Pass
Revenue purity
2.19%
Below 5%
Only 2.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Healthpeak Properties's business is in a permissible area, but its interest-bearing debt is about 50% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when DOC's ethical verdict changes
Today DOC does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads AVOID: it trades above our $12.10 fair value estimate, narrow competitive moat, 11.10% revenue growth.
Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. The price runs 37.1% above the base estimate.
Third-party analyst targets: 19 covering, consensus Buy. The average target sits +14% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Healthcare REIT trips on debt and weak returns
Healthpeak owns medical buildings across the United States. We pass on the name because the shares trade above our fair value and the ethical screen flags the debt ratio straight away.
Revenue rises 7 percent yet the forward multiple has turned negative at minus 150 times while return on equity sits at just 3 percent and profit margins reach only 8 percent. A narrow moat offers little protection when those returns stay this low.
High debt remains the core problem and leaves the business exposed if rates stay elevated or occupancy slips. Nineteen analysts may lean buy but the combination of thin returns and the ethical fail tells us to stay clear.
Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
DOC trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-29Distribution$19.25+1.4%Entry 12
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 1.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (18 analysts) rates it buy, with a mean price target of $21. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Distribution$18.98+0.0%Entry 11
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (18 analysts) rates it buy, with a mean price target of $21. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Distribution$18.98+0.0%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (18 analysts) rates it buy, with a mean price target of $21. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Distribution$18.98+0.0%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (18 analysts) rates it buy, with a mean price target of $21. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (18 analysts) rates it buy, with a mean price target of $21.
2026-10-16Markdown$18.98-5.6%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (18 analysts) rates it buy, with a mean price target of $21.
2026-10-02Markdown · changed$20.10-6.1%Entry 6
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (18 analysts) rates it buy, with a mean price target of $21.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 4.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (18 analysts) rates it buy, with a mean price target of $21.
2026-07-26Markup$22.51+13.7%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 13.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (18 analysts) rates it buy, with a mean price target of $21.
2026-07-18Markup$19.79+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 18% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (18 analysts) rates it buy, with a mean price target of $21.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
