Wells Fargo & Company Reiterates Equal Weight Rating for Healthpeak Properties (NYSE:DOC)

Wells Fargo & Company reaffirmed their equal weight rating on shares of Healthpeak Properties (NYSE:DOC) in a report issued on Tuesday, Benzinga reports. They currently have a $23.00 target price on the real estate investment trust’s stock, up from their previous target price of $22.00.

Several other research firms also recently commented on DOC. Evercore ISI lifted their price objective on Healthpeak Properties from $25.00 to $26.00 and gave the stock an outperform rating in a report on Monday, September 16th. Royal Bank of Canada boosted their price target on Healthpeak Properties from $22.00 to $25.00 and gave the company an outperform rating in a research note on Tuesday, July 30th. Wedbush boosted their price target on Healthpeak Properties from $22.00 to $25.00 and gave the company an outperform rating in a research note on Monday, July 29th. Citigroup boosted their price target on Healthpeak Properties from $20.00 to $22.00 and gave the company a neutral rating in a research note on Thursday, August 22nd. Finally, Scotiabank boosted their price target on Healthpeak Properties from $23.00 to $24.00 and gave the company a sector outperform rating in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $22.17.

Healthpeak Properties Price Performance

DOC opened at $22.12 on Tuesday. The stock has a 50-day moving average price of $22.05 and a 200-day moving average price of $20.23. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $15.57 billion, a PE ratio of 63.20, a P/E/G ratio of 2.36 and a beta of 1.14. Healthpeak Properties has a 1 year low of $15.24 and a 1 year high of $23.14.

Healthpeak Properties (NYSE:DOC) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.23). Healthpeak Properties had a return on equity of 3.51% and a net margin of 11.93%. The company had revenue of $695.50 million during the quarter, compared to analysts’ expectations of $665.11 million. During the same period in the prior year, the firm earned $0.45 EPS. Healthpeak Properties’s revenue for the quarter was up 27.5% compared to the same quarter last year. Sell-side analysts predict that Healthpeak Properties will post 1.8 earnings per share for the current fiscal year.

Healthpeak Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.42%. Healthpeak Properties’s dividend payout ratio (DPR) is presently 342.86%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Healthpeak Properties in the 2nd quarter worth approximately $66,000. Parallel Advisors LLC lifted its holdings in Healthpeak Properties by 274.6% in the 4th quarter. Parallel Advisors LLC now owns 4,072 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 2,985 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Healthpeak Properties during the 3rd quarter worth approximately $108,000. Point72 DIFC Ltd purchased a new stake in shares of Healthpeak Properties during the 2nd quarter worth approximately $161,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Healthpeak Properties during the 2nd quarter worth approximately $227,000. 93.57% of the stock is owned by hedge funds and other institutional investors.

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.