Healthcare Realty Trust (NYSE:HR) Releases Q2 Earnings Guidance

Healthcare Realty Trust (NYSE:HR) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.38 to $0.39 for the period, compared to the consensus earnings per share estimate of $0.39. Healthcare Realty Trust also updated its FY24 guidance to $1.52 to $1.58 EPS.

Healthcare Realty Trust Stock Up 2.3 %

Shares of Healthcare Realty Trust stock traded up $0.35 during trading hours on Tuesday, hitting $15.34. The company’s stock had a trading volume of 4,756,523 shares, compared to its average volume of 3,408,855. The company has a market capitalization of $5.85 billion, a PE ratio of -20.26 and a beta of 0.78. The business has a fifty day moving average of $13.87 and a 200 day moving average of $15.06. Healthcare Realty Trust has a 1-year low of $12.77 and a 1-year high of $20.30.

Healthcare Realty Trust (NYSE:HR) last announced its quarterly earnings results on Friday, February 16th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.51). The company had revenue of $330.40 million during the quarter, compared to analyst estimates of $334.32 million. Healthcare Realty Trust had a negative net margin of 20.71% and a negative return on equity of 3.87%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 earnings per share. On average, sell-side analysts anticipate that Healthcare Realty Trust will post 1.56 earnings per share for the current fiscal year.

Healthcare Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Monday, May 13th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 8.08%. The ex-dividend date is Friday, May 10th. Healthcare Realty Trust’s dividend payout ratio is presently -167.57%.

Analysts Set New Price Targets

A number of research analysts have recently commented on HR shares. Wedbush cut shares of Healthcare Realty Trust from an outperform rating to a neutral rating and reduced their target price for the stock from $19.00 to $15.00 in a research report on Tuesday, February 20th. Stifel Nicolaus cut shares of Healthcare Realty Trust from a buy rating to a hold rating and decreased their price objective for the company from $19.00 to $15.00 in a research report on Tuesday, February 20th. Wells Fargo & Company dropped their target price on Healthcare Realty Trust from $18.00 to $15.00 and set an equal weight rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. cut their price target on Healthcare Realty Trust from $19.00 to $17.00 and set an overweight rating on the stock in a research note on Wednesday, March 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Healthcare Realty Trust in a research note on Tuesday, January 30th. They set a hold rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $17.20.

About Healthcare Realty Trust

Healthcare Realty (NYSE: HR) is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As the first and largest REIT to specialize in medical outpatient buildings, Healthcare Realty's portfolio includes more than 700 properties totaling over 40 million square feet concentrated in 15 growth markets.