Healthpeak Properties, Inc. (DOC) vs LTC Properties, Inc. (LTC)

Healthpeak Properties, Inc. and LTC Properties, Inc. are both Reit Healthcare Facilities companies. Healthpeak Properties, Inc. is the larger, with a market value of $13.1B against $2.3B — 5.8× the size. LTC Properties, Inc. trades at the lower P/E: 15.5× against 53.8×. LTC Properties, Inc. grew revenue faster over the last twelve months: 59.8% against 5.52%. LTC Properties, Inc. has the higher net margin (38.7% vs 8.23%) and the higher return on invested capital (4.16% vs 1.71%). Both pay a dividend; Healthpeak Properties, Inc. yields more (8.10% vs 6.71%). Across the 22 metrics below, LTC Properties, Inc. leads on 14 and Healthpeak Properties, Inc. on 8.

Valuation

Metric DOC LTC Reit Healthcare Facilities median
P/E 53.80 15.50 22.66
P/S 4.40 6.33 5.18
P/B 1.37 1.64 1.80
Price to free cash flow n/m n/m 17.10
EV/EBITDA 14.38 15.88 15.38
EV/Sales 7.22 8.45 8.25
Earnings yield 1.86% 6.45% 2.78%
Free cash flow yield (0.15%) (15.15%) 3.52%

Profitability

Metric DOC LTC Reit Healthcare Facilities median
Gross margin 58.07% 100.00% 92.10%
Operating margin 16.49% 39.78% 21.06%
Net margin 8.23% 38.73% 10.19%
Free cash flow margin (0.66%) (95.93%) 7.91%
Return on equity 2.69% 11.29% 4.06%
Return on assets 1.17% 6.78% 2.10%
Return on invested capital 1.71% 4.16% 1.96%

Growth

Metric DOC LTC Reit Healthcare Facilities median
Revenue growth (TTM) 5.52% 59.83% 15.71%
EPS growth (last fiscal year) (72.22%) 23.53% 23.38%
Revenue growth, 5-year CAGR 11.40% 10.53% 9.60%
Net income growth, 5-year CAGR (29.72%) 4.33% 0.00%

Health

Metric DOC LTC Reit Healthcare Facilities median
Debt to equity 1.06 0.58 0.84
Current ratio 3.02 8.60 3.05
Net debt to EBITDA 6.32 5.26 5.50

Dividend

Metric DOC LTC Reit Healthcare Facilities median
Dividend yield 8.10% 6.71% 5.71%
Payout ratio 4.36 1.05 1.41

Size

Metric DOC LTC Reit Healthcare Facilities median
Market cap 13.08b 2.27b 3.99b

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