Scotiabank Raises Healthpeak Properties (NYSE:DOC) Price Target to $24.00

Healthpeak Properties (NYSE:DOC) had its target price hoisted by Scotiabank from $23.00 to $24.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on DOC. Evercore ISI upped their target price on shares of Healthpeak Properties from $24.00 to $25.00 and gave the stock an outperform rating in a report on Wednesday, August 28th. Wells Fargo & Company raised shares of Healthpeak Properties to a hold rating in a report on Monday, August 12th. Royal Bank of Canada upped their target price on shares of Healthpeak Properties from $22.00 to $25.00 and gave the stock an outperform rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Healthpeak Properties from $19.00 to $21.00 and gave the stock a neutral rating in a report on Thursday, May 16th. Finally, Citigroup upped their price objective on shares of Healthpeak Properties from $20.00 to $22.00 and gave the company a neutral rating in a report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $21.75.

Healthpeak Properties Price Performance

NYSE:DOC opened at $22.41 on Monday. The firm has a market cap of $15.77 billion, a price-to-earnings ratio of 63.24, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14. The company has a 50 day moving average price of $21.42 and a 200-day moving average price of $19.43. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.70 and a quick ratio of 0.70. Healthpeak Properties has a 1-year low of $15.24 and a 1-year high of $22.67.

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

Healthpeak Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 5.36%. The ex-dividend date was Monday, August 5th. Healthpeak Properties’s dividend payout ratio (DPR) is presently 342.86%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DOC. Natixis Advisors L.P. boosted its stake in shares of Healthpeak Properties by 31.3% in the fourth quarter. Natixis Advisors L.P. now owns 55,395 shares of the real estate investment trust’s stock valued at $737,000 after purchasing an additional 13,203 shares during the period. Amalgamated Bank boosted its stake in shares of Healthpeak Properties by 0.6% in the fourth quarter. Amalgamated Bank now owns 136,805 shares of the real estate investment trust’s stock valued at $1,821,000 after purchasing an additional 854 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Healthpeak Properties by 6.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,943,465 shares of the real estate investment trust’s stock valued at $52,488,000 after purchasing an additional 239,972 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Healthpeak Properties by 43.2% in the fourth quarter. BNP Paribas Financial Markets now owns 199,257 shares of the real estate investment trust’s stock valued at $2,652,000 after purchasing an additional 60,130 shares during the period. Finally, AGF Management Ltd. boosted its stake in shares of Healthpeak Properties by 28.7% in the fourth quarter. AGF Management Ltd. now owns 286,381 shares of the real estate investment trust’s stock valued at $3,812,000 after purchasing an additional 63,896 shares during the period. Hedge funds and other institutional investors own 93.57% of the company’s stock.

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.