Starboard Value LP Invests $342.11 Million in Healthcare Realty Trust Incorporated (NYSE:HR)

Starboard Value LP acquired a new position in Healthcare Realty Trust Incorporated (NYSE:HR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,183,460 shares of the real estate investment trust’s stock, valued at approximately $342,110,000. Healthcare Realty Trust accounts for approximately 6.2% of Starboard Value LP’s holdings, making the stock its 6th biggest holding. Starboard Value LP owned about 5.70% of Healthcare Realty Trust as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Rush Island Management LP grew its holdings in Healthcare Realty Trust by 21.2% during the 4th quarter. Rush Island Management LP now owns 15,681,440 shares of the real estate investment trust’s stock valued at $265,800,000 after buying an additional 2,747,848 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Healthcare Realty Trust by 12.0% during the 4th quarter. Bank of New York Mellon Corp now owns 4,630,973 shares of the real estate investment trust’s stock valued at $78,495,000 after buying an additional 495,599 shares in the last quarter. Norges Bank purchased a new position in Healthcare Realty Trust during the 4th quarter valued at approximately $76,825,000. Northern Trust Corp grew its holdings in Healthcare Realty Trust by 40.3% during the 4th quarter. Northern Trust Corp now owns 4,040,969 shares of the real estate investment trust’s stock valued at $68,494,000 after buying an additional 1,159,763 shares in the last quarter. Finally, Farallon Capital Management LLC grew its holdings in Healthcare Realty Trust by 25.4% during the 4th quarter. Farallon Capital Management LLC now owns 3,264,000 shares of the real estate investment trust’s stock valued at $55,325,000 after buying an additional 661,000 shares in the last quarter.

Insider Buying and Selling

In other news, Director Thomas N. Bohjalian bought 2,500 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was acquired at an average cost of $14.71 per share, with a total value of $36,775.00. Following the transaction, the director now directly owns 56,502 shares in the company, valued at approximately $831,144.42. This trade represents a 4.63% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wedbush lowered their price objective on Healthcare Realty Trust from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Scotiabank lowered their price objective on Healthcare Realty Trust from $18.00 to $17.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 25th. StockNews.com raised Healthcare Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company lowered their price objective on Healthcare Realty Trust from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Healthcare Realty Trust Stock Performance

Shares of HR stock opened at $15.03 on Friday. Healthcare Realty Trust Incorporated has a 52-week low of $14.45 and a 52-week high of $18.90. The firm has a market capitalization of $5.28 billion, a P/E ratio of -8.44 and a beta of 0.92. The stock has a 50 day moving average price of $15.85 and a 200 day moving average price of $16.62.

Healthcare Realty Trust (NYSE:HR) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. Healthcare Realty Trust had a negative return on equity of 11.20% and a negative net margin of 51.60%. The firm had revenue of $288.86 million during the quarter, compared to analyst estimates of $297.39 million. During the same period last year, the company earned $0.39 EPS. Healthcare Realty Trust’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Healthcare Realty Trust Incorporated will post 1.59 EPS for the current year.

Healthcare Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 12th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 8.25%. The ex-dividend date is Monday, May 12th. Healthcare Realty Trust’s dividend payout ratio is currently -113.76%.

Healthcare Realty Trust Profile

Healthcare Realty Trust, Inc provides real estate investment services. It owns, leases, manages, acquires, finances, develops, and redevelops income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States of America. The company was founded by David R.