Healthpeak Properties Inc (DOC) is overvalued and Ventas Inc (VTR) is overvalued.
Both trade above our estimate of their intrinsic value. VTR is the closer of the two: -234%, against -327% for DOC.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.9% (average of 2 methods) values the shares at $4.83; the price of $20.60 is 327% above that value, and 80% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
Discounting its cash flows at 8.4% (average of 2 methods) values the shares at $26.01; the price of $86.86 is 234% above that value.
Leak Score 29/100 on 8 of 12 signals
| Metric | DOC | VTR |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $20.60 | $86.86 |
| Intrinsic value | $4.83 | $26.01 |
| Margin of safety | -327% | -234% |
| Leak Score | 0/100 (2/12) | 29/100 (8/12) |
| Market cap | $14.6B | $45.5B |
| Revenue growth, 5 years | 11.4% | 9.0% |
| Operating margin | 17.9% | 14.8% |
| Net margin | 8.2% | 4.1% |
| Return on equity | 3.1% | 2.0% |
| Debt to equity | 1.32 | 0.89 |
| P/E | 58.9x | 159.3x |
| Forward P/E | 93.3x | 92.2x |
| P/B | 1.8x | 3.0x |
| Dividend yield | 6.0% | 2.4% |