Healthpeak Properties (NYSE:DOC) Reaches New 1-Year High Following Analyst Upgrade

Shares of Healthpeak Properties, Inc. (NYSE:DOC) hit a new 52-week high during mid-day trading on Thursday after Citigroup raised their price target on the stock from $20.00 to $22.00. Citigroup currently has a neutral rating on the stock. Healthpeak Properties traded as high as $22.20 and last traded at $22.18, with a volume of 2596903 shares trading hands. The stock had previously closed at $21.89.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company upgraded shares of Healthpeak Properties to a “hold” rating in a report on Monday, August 12th. StockNews.com lowered shares of Healthpeak Properties from a “hold” rating to a “sell” rating in a research note on Wednesday. Argus upgraded shares of Healthpeak Properties to a “strong-buy” rating in a research note on Thursday, May 9th. Royal Bank of Canada upped their price target on Healthpeak Properties from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their price objective on Healthpeak Properties from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Healthpeak Properties currently has an average rating of “Moderate Buy” and an average price target of $21.36.

Hedge Funds Weigh In On Healthpeak Properties

A number of institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Healthpeak Properties during the fourth quarter worth $34,883,000. State of New Jersey Common Pension Fund D raised its stake in shares of Healthpeak Properties by 24.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 217,420 shares of the real estate investment trust’s stock valued at $2,894,000 after buying an additional 42,030 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Healthpeak Properties in the 4th quarter valued at about $892,000. 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 worth $3,812,000 after buying an additional 63,896 shares during the last quarter. Finally, APG Asset Management US Inc. acquired a new stake in Healthpeak Properties during the fourth quarter worth about $1,450,000. 93.57% of the stock is owned by hedge funds and other institutional investors.

Healthpeak Properties Stock Performance

The company has a market capitalization of $15.61 billion, a PE ratio of 63.00, a PEG ratio of 2.71 and a beta of 1.11. The firm has a 50-day moving average of $20.60 and a two-hundred day moving average of $18.32. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.91.

Healthpeak Properties (NYSE:DOC) last posted its 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). The firm had revenue of $695.50 million during the quarter, compared to analyst estimates of $665.11 million. Healthpeak Properties had a net margin of 11.93% and a return on equity of 3.51%. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Research analysts anticipate that Healthpeak Properties, Inc. will post 1.79 EPS for the current year.

Healthpeak Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.20 dividend on an annualized basis and a yield of 5.41%. Healthpeak Properties’s payout ratio is 342.86%.

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.