Healthpeak Properties (NYSE:DOC) Stock Rating Upgraded by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Healthpeak Properties (NYSE:DOC) to a hold rating in a research report report published on Monday morning, Zacks.com reports.

A number of other research firms also recently weighed in on DOC. JPMorgan Chase & Co. raised their price target on shares of Healthpeak Properties from $19.00 to $21.00 and gave the stock a neutral rating in a research report on Thursday, May 16th. Scotiabank raised their price objective on shares of Healthpeak Properties from $22.00 to $23.00 and gave the stock a sector outperform rating in a report on Thursday, May 16th. Royal Bank of Canada upped their target price on shares of Healthpeak Properties from $22.00 to $25.00 and gave the company an outperform rating in a research note on Tuesday, July 30th. Argus upgraded Healthpeak Properties to a strong-buy rating in a research note on Thursday, May 9th. Finally, BNP Paribas raised Healthpeak Properties from a neutral rating to an outperform rating and boosted their price objective for the company from $19.00 to $21.00 in a report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $20.64.

Healthpeak Properties Stock Performance

Shares of DOC stock opened at $21.79 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.70 and a quick ratio of 0.69. The company’s fifty day moving average price is $20.32 and its two-hundred day moving average price is $17.97. The firm has a market capitalization of $15.34 billion, a P/E ratio of 62.26, a P/E/G ratio of 2.71 and a beta of 1.11. Healthpeak Properties has a 12 month low of $15.24 and a 12 month high of $22.19.

Healthpeak Properties (NYSE:DOC) last released 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). Healthpeak Properties had a return on equity of 3.51% and a net margin of 11.93%. The business had revenue of $695.50 million during the quarter, compared to analyst estimates of $665.11 million. During the same quarter last year, the firm posted $0.45 EPS. The company’s revenue was up 27.5% compared to the same quarter last year. On average, research analysts anticipate that Healthpeak Properties will post 1.79 earnings per share for the current fiscal year.

Healthpeak Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.20 annualized dividend and a dividend yield of 5.51%. Healthpeak Properties’s payout ratio is currently 342.86%.

Institutional Trading of Healthpeak Properties

Large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Healthpeak Properties in the 4th quarter valued at about $34,883,000. Leeward Investments LLC MA bought a new position in shares of Healthpeak Properties in the fourth quarter valued at approximately $13,038,000. abrdn plc increased its stake in shares of Healthpeak Properties by 1,749.1% during the fourth quarter. abrdn plc now owns 919,351 shares of the real estate investment trust’s stock valued at $12,237,000 after acquiring an additional 869,631 shares during the period. Angelo Gordon & CO. L.P. bought a new stake in Healthpeak Properties during the fourth quarter worth approximately $3,713,000. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 worth $52,488,000 after purchasing an additional 239,972 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.

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.