Healthpeak Properties (NYSE:DOC) Announces Earnings Results

Healthpeak Properties (NYSE:DOC) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23), Zacks reports. The business had revenue of $695.50 million for the quarter, compared to analyst estimates of $665.11 million. Healthpeak Properties had a return on equity of 3.69% and a net margin of 11.93%. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. Healthpeak Properties updated its FY 2024 guidance to 1.770-1.810 EPS.

Healthpeak Properties Stock Performance

Shares of DOC traded up $1.14 during trading hours on Friday, hitting $21.90. The stock had a trading volume of 8,948,525 shares, compared to its average volume of 3,874,896. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.69 and a quick ratio of 0.69. Healthpeak Properties has a 12 month low of $15.24 and a 12 month high of $22.38. The firm has a market capitalization of $15.41 billion, a PE ratio of 62.57, a PEG ratio of 2.73 and a beta of 1.11. The stock has a fifty day moving average price of $19.81 and a 200 day moving average price of $17.23.

Healthpeak Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.48%. The ex-dividend date is Monday, August 5th. Healthpeak Properties’s payout ratio is currently 342.87%.

Analysts Set New Price Targets

DOC has been the topic of a number of analyst reports. Bank of America upgraded Healthpeak Properties from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $25.00 in a research note on Monday, April 1st. Argus upgraded Healthpeak Properties to a “strong-buy” rating in a research note on Thursday, May 9th. Scotiabank increased their price objective on Healthpeak Properties from $22.00 to $23.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 16th. Wedbush upgraded Healthpeak Properties from a “neutral” rating to an “outperform” rating in a research report on Friday, May 3rd. Finally, Mizuho reissued a “buy” rating and set a $22.00 price target on shares of Healthpeak Properties in a research note on Monday, April 22nd. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.90.

Healthpeak Properties Company Profile

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.