Healthpeak Properties

DOC exits 2025 with net debt to adjusted EBITDAre of ~5.2x, investment‑grade ratings (Baa1/BBB+), approximately 2.7 billion of liquidity, and a 4.7‑year weighted average debt maturity at a 4.2% weighted average interest rate.

The company extended its 3.0 billion revolver to 2029 and issued 500 million of 4.75% notes due 2033 in 2025, further laddering maturities. Roughly 45% floating‑rate exposure remains a watch item, though management has demonstrated proactive refinancing and capital recycling.

The 2025 dividend of 1.22 per share represents about a 72% payout of TTM AFFO of 1.69 per share, leaving a modest cushion.