Healthpeak Properties, Inc. (NYSE:DOC) Raises Dividend to $0.31 Per Share

Healthpeak Properties, Inc. (NYSE:DOC) announced a quarterly dividend on Monday, February 3rd,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.305 per share by the real estate investment trust on Wednesday, February 26th. This represents a $1.22 annualized dividend and a dividend yield of 5.98%. This is a boost from Healthpeak Properties’s previous quarterly dividend of $0.30.

Healthpeak Properties has raised its dividend by an average of 34.0% per year over the last three years. Healthpeak Properties has a payout ratio of 428.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Healthpeak Properties to earn $1.86 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 64.5%.

Healthpeak Properties Stock Performance

Shares of DOC stock traded down $0.25 during midday trading on Monday, hitting $20.41. 5,578,612 shares of the company were exchanged, compared to its average volume of 4,370,338. The firm has a market capitalization of $14.27 billion, a P/E ratio of 43.42, a PEG ratio of 2.22 and a beta of 1.15. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.31 and a current ratio of 1.31. The firm’s 50 day moving average price is $20.75 and its two-hundred day moving average price is $21.55. Healthpeak Properties has a 52 week low of $16.01 and a 52 week high of $23.26.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DOC. StockNews.com downgraded shares of Healthpeak Properties from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Healthpeak Properties from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Robert W. Baird boosted their price objective on shares of Healthpeak Properties from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company cut their price objective on shares of Healthpeak Properties from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. Finally, Morgan Stanley raised shares of Healthpeak Properties from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.15.

About Healthpeak Properties

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.