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

Healthpeak Properties, Inc. (NYSE:DOC) declared a monthly dividend on Tuesday, July 8th, Wall Street Journal reports. Stockholders of record on Friday, September 19th will be paid a dividend of 0.1017 per share by the real estate investment trust on Tuesday, September 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend is Friday, September 19th.

Healthpeak Properties has a payout ratio of 369.7% meaning 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 Up 1.2%

Shares of DOC opened at $18.20 on Wednesday. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 45.50, a PEG ratio of 2.05 and a beta of 1.03. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.35 and a current ratio of 1.35. The business’s fifty day moving average price is $17.44 and its two-hundred day moving average price is $19.00. Healthpeak Properties has a 52 week low of $16.64 and a 52 week high of $23.26.

Healthpeak Properties (NYSE:DOC) last announced 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. The firm had revenue of $702.89 million for the quarter, compared to analyst estimates of $690.76 million. Healthpeak Properties had a return on equity of 3.06% and a net margin of 9.99%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. On average, analysts predict that Healthpeak Properties will post 1.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John T. Thomas acquired 4,200 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were acquired at an average cost of $17.84 per share, for a total transaction of $74,928.00. Following the completion of the acquisition, the director directly owned 813,566 shares in the company, valued at approximately $14,514,017.44. The trade was a 0.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tommy G. Thompson acquired 5,777 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The shares were bought at an average price of $17.27 per share, for a total transaction of $99,768.79. Following the completion of the acquisition, the director owned 144,290 shares of the company’s stock, valued at $2,491,888.30. This trade represents a 4.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 29,764 shares of company stock worth $521,909. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Healthpeak Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Healthpeak Properties by 110.3% during the first 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 acquiring an additional 63,930 shares during the period. Woodline Partners LP raised its holdings in shares of Healthpeak Properties by 41.3% during the first quarter. Woodline Partners LP now owns 59,103 shares of the real estate investment trust’s stock worth $1,195,000 after acquiring an additional 17,279 shares during the period. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Healthpeak Properties by 7.3% during the first quarter. Integrated Wealth Concepts LLC now owns 18,084 shares of the real estate investment trust’s stock worth $366,000 after acquiring an additional 1,231 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on DOC. Wedbush reduced their price objective on shares of Healthpeak Properties from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Robert W. Baird reduced their price objective on shares of Healthpeak Properties from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Evercore ISI reduced their price objective on shares of Healthpeak Properties from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Scotiabank reduced their price objective on shares of Healthpeak Properties from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 12th. Finally, Wells Fargo & Company reduced their price objective on shares of Healthpeak Properties from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.27.

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.