Healthpeak Properties (NYSE:DOC) Hits New 12-Month High on Analyst Upgrade

Healthpeak Properties, Inc. (NYSE:DOC)’s share price reached a new 52-week high on Wednesday after Royal Bank of Canada raised their price target on the stock from $22.00 to $25.00. Royal Bank of Canada currently has an outperform rating on the stock. Healthpeak Properties traded as high as $22.15 and last traded at $22.11, with a volume of 969387 shares trading hands. The stock had previously closed at $21.84.

Other research analysts also recently issued reports about the company. Scotiabank raised their price target on Healthpeak Properties from $22.00 to $23.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 16th. Wedbush raised their target price on shares of Healthpeak Properties from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday. BNP Paribas upgraded shares of Healthpeak Properties from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $19.00 to $21.00 in a report on Friday, April 26th. StockNews.com upgraded shares of Healthpeak Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Healthpeak Properties from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.64.

Hedge Funds Weigh In On Healthpeak Properties

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC boosted its holdings in Healthpeak Properties by 274.6% in the 4th quarter. Parallel Advisors LLC now owns 4,072 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 2,985 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Healthpeak Properties by 645.4% in the fourth quarter. Quadrant Capital Group LLC now owns 9,646 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 8,352 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in Healthpeak Properties during the fourth quarter worth approximately $134,000. Koshinski Asset Management Inc. bought a new position in Healthpeak Properties during the 4th quarter worth $146,000. Finally, Sapient Capital LLC bought a new position in Healthpeak Properties during the 4th quarter worth $152,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Healthpeak Properties Price Performance

The company has a fifty day simple moving average of $19.89 and a two-hundred day simple moving average of $17.37. The stock has a market capitalization of $15.41 billion, a price-to-earnings ratio of 62.40, a PEG ratio of 2.73 and a beta of 1.11. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.69 and a current ratio of 0.70.

Healthpeak Properties (NYSE:DOC) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Healthpeak Properties had a net margin of 11.93% and a return on equity of 3.51%. The company had revenue of $695.50 million during the quarter, compared to analyst estimates of $665.11 million. During the same period last year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, equities research analysts expect that Healthpeak Properties, Inc. will post 1.79 earnings per share for the current fiscal year.

Healthpeak Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend is Monday, August 5th. Healthpeak Properties’s dividend payout ratio (DPR) is presently 342.87%.

Healthpeak Properties Company Profile

Healthpeak Properties, Inc is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates, and develops high-quality real estate for healthcare discovery and delivery.