Healthpeak Properties, Inc. (NYSE:DOC) Announces $0.10 Monthly Dividend

Healthpeak Properties, Inc. (NYSE:DOC) announced a monthly dividend on Tuesday, April 8th, Wall Street Journal reports. Shareholders of record on Monday, June 16th will be given a dividend of 0.1017 per share by the real estate investment trust on Friday, June 27th. This represents a $1.22 annualized dividend and a yield of 7.02%. The ex-dividend date is Monday, June 16th.

Healthpeak Properties has a payout ratio of 369.7% 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 $1.95 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 62.6%.

Healthpeak Properties Stock Down 0.7%

DOC opened at $17.38 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.96. The firm has a market cap of $12.07 billion, a P/E ratio of 49.64, a PEG ratio of 2.17 and a beta of 1.04. Healthpeak Properties has a 52 week low of $16.64 and a 52 week high of $23.26. The business’s fifty day simple moving average is $17.74 and its 200 day simple moving average is $19.47.

Healthpeak Properties (NYSE:DOC) last posted its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Healthpeak Properties had a return on equity of 2.61% and a net margin of 9.00%. The business had revenue of $702.89 million for the quarter, compared to analyst estimates of $690.76 million. During the same quarter last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Healthpeak Properties will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Scotiabank cut their price objective on Healthpeak Properties from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a report on Monday, May 12th. Argus restated a “buy” rating and issued a $25.00 price objective on shares of Healthpeak Properties in a report on Tuesday, April 29th. Evercore ISI dropped their target price on Healthpeak Properties from $23.00 to $21.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Wall Street Zen downgraded Healthpeak Properties from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. Finally, Robert W. Baird lowered their price objective on Healthpeak Properties from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.27.

Insider Buying and Selling

In other Healthpeak Properties news, CEO Scott M. Brinker purchased 11,337 shares of Healthpeak Properties stock in a transaction on Monday, April 28th. The stock was bought at an average price of $17.68 per share, for a total transaction of $200,438.16. Following the transaction, the chief executive officer now owns 201,863 shares of the company’s stock, valued at $3,568,937.84. The trade was a 5.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John T. Thomas purchased 4,200 shares of Healthpeak Properties stock in a transaction on Monday, April 28th. The shares were acquired at an average price of $17.84 per share, with a total value of $74,928.00. Following the transaction, the director now directly owns 813,566 shares in the company, valued at $14,514,017.44. This trade represents a 0.52% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 29,764 shares of company stock worth $521,909 in the last three months. 0.23% of the stock is owned by insiders.

Institutional Trading of Healthpeak Properties

Hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Healthpeak Properties by 110.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,881 shares of the real estate investment trust’s stock worth $2,463,000 after buying an additional 63,930 shares in the last quarter. Woodline Partners LP raised its stake in shares of Healthpeak Properties by 41.3% in the 1st quarter. Woodline Partners LP now owns 59,103 shares of the real estate investment trust’s stock worth $1,195,000 after buying an additional 17,279 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Healthpeak Properties by 7.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 18,084 shares of the real estate investment trust’s stock worth $366,000 after buying an additional 1,231 shares in the last quarter. Institutional investors own 93.57% of the company’s stock.

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.