Healthpeak Properties (NYSE:DOC) Stock Gets Price Target Reduction from Cantor Fitzgerald

Healthpeak Properties (NYSE:DOC) had its price objective cut by Cantor Fitzgerald from $23.00 to $21.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

DOC has been the subject of several other reports. Citigroup boosted their target price on shares of Healthpeak Properties from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. UBS Group dropped their price target on shares of Healthpeak Properties from $21.50 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Robert W. Baird lifted their price objective on shares of Healthpeak Properties from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Weiss Ratings downgraded shares of Healthpeak Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, September 16th. Finally, Royal Bank Of Canada upped their price objective on shares of Healthpeak Properties from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.47.

Healthpeak Properties Stock Performance

Healthpeak Properties stock traded up $0.17 during midday trading on Wednesday, hitting $20.30. 5,994,742 shares of the company were exchanged, compared to its average volume of 6,179,480. The firm has a market capitalization of $13.99 billion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. Healthpeak Properties has a fifty-two week low of $15.70 and a fifty-two week high of $22.95. The business has a fifty day simple moving average of $19.74 and a two-hundred day simple moving average of $19.20. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.02 and a current ratio of 3.02.

Healthpeak Properties (NYSE:DOC) last announced its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.41). Healthpeak Properties had a net margin of 12.32% and a return on equity of 4.25%. The company had revenue of $820.89 million during the quarter, compared to analyst estimates of $739.18 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was up 16.3% compared to the same quarter last year. On average, sell-side analysts forecast that Healthpeak Properties will post 1.77 earnings per share for the current year.

Healthpeak Properties Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Friday, December 18th will be given a $0.1017 dividend. The ex-dividend date is Friday, December 18th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 6.0%. Healthpeak Properties’s payout ratio is 225.93%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in Healthpeak Properties by 92.3% in the 2nd quarter. State Street Corp now owns 93,267,685 shares of the real estate investment trust’s stock worth $1,995,928,000 after acquiring an additional 44,767,085 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Healthpeak Properties by 60.3% during the first quarter. Bank of New York Mellon Corp now owns 15,456,420 shares of the real estate investment trust’s stock valued at $253,949,000 after purchasing an additional 5,815,189 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Healthpeak Properties in the second quarter valued at about $234,600,000. Dimensional Fund Advisors LP grew its position in shares of Healthpeak Properties by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 10,583,736 shares of the real estate investment trust’s stock valued at $173,896,000 after purchasing an additional 290,589 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Healthpeak Properties by 83.4% during the second quarter. Envestnet Asset Management Inc. now owns 7,761,469 shares of the real estate investment trust’s stock worth $166,095,000 after purchasing an additional 3,530,429 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Healthpeak Properties Company Profile

Healthpeak Properties, Inc (NYSE:DOC) is a real estate investment trust that owns, operates and develops healthcare-related real estate in the United States. The company primarily serves healthcare providers, research organizations and senior-care operators through a portfolio of specialized properties.

Its main activities include the ownership and leasing of outpatient medical office buildings, life science facilities and senior housing properties. These assets support services such as physician practices, ambulatory care, medical research and senior living.