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

Starboard Value LP purchased a new stake in Healthcare Realty Trust Incorporated (NYSE:HR) during the fourth quarter, Holdings Channel.com reports. The firm purchased 20,183,460 shares of the real estate investment trust’s stock, valued at approximately $342,110,000. Healthcare Realty Trust comprises 6.2% of Starboard Value LP’s portfolio, making the stock its 6th biggest position. Starboard Value LP owned about 0.06% of Healthcare Realty Trust as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HR. Smartleaf Asset Management LLC grew its stake in Healthcare Realty Trust by 59.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,650 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 612 shares during the last quarter. Blue Trust Inc. grew its stake in Healthcare Realty Trust by 130.3% during the 4th quarter. Blue Trust Inc. now owns 1,635 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 925 shares during the last quarter. Synergy Investment Management LLC purchased a new position in Healthcare Realty Trust during the 4th quarter worth $36,000. Lazard Asset Management LLC purchased a new position in Healthcare Realty Trust during the 4th quarter worth $45,000. Finally, Jones Financial Companies Lllp grew its stake in Healthcare Realty Trust by 68.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,067 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 1,249 shares during the last quarter.

Healthcare Realty Trust Price Performance

HR stock opened at $15.03 on Friday. The firm has a market capitalization of $5.28 billion, a PE ratio of -8.44 and a beta of 0.92. Healthcare Realty Trust Incorporated has a 1 year low of $14.45 and a 1 year high of $18.90. The business has a 50 day simple moving average of $15.85 and a 200-day simple moving average of $16.62.

Healthcare Realty Trust (NYSE:HR) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Healthcare Realty Trust had a negative return on equity of 11.20% and a negative net margin of 51.60%. The business had revenue of $288.86 million during the quarter, compared to analyst estimates of $297.39 million. During the same period last year, the business posted $0.39 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis. On average, equities research analysts expect 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. Shareholders of record on Monday, May 12th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 8.25%. The ex-dividend date is Monday, May 12th. Healthcare Realty Trust’s dividend payout ratio is presently -113.76%.

Insider Buying and Selling at Healthcare Realty Trust

In related news, Director Thomas N. Bohjalian purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were purchased at an average price of $14.71 per share, with a total value of $36,775.00. Following the completion of the acquisition, the director now directly owns 56,502 shares in the company, valued at $831,144.42. This represents a 4.63% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HR. Wedbush dropped their target price on Healthcare Realty Trust from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Scotiabank dropped their target price on Healthcare Realty Trust from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 25th. Wells Fargo & Company dropped their target price on Healthcare Realty Trust from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Finally, StockNews.com upgraded Healthcare Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Healthcare Realty Trust has an average rating of “Hold” and a consensus target price of $17.00.

About Healthcare Realty Trust

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.