Healthcare Realty Trust (NYSE:HR) Issues FY24 Earnings Guidance

Healthcare Realty Trust (NYSE:HR) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.53-1.58 for the period, compared to the consensus estimate of $1.55.

Healthcare Realty Trust Trading Down 2.4 %

Shares of HR stock opened at $18.19 on Wednesday. Healthcare Realty Trust has a 1-year low of $12.77 and a 1-year high of $18.90. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of -13.68 and a beta of 0.91. The stock has a 50-day moving average of $17.75 and a 200-day moving average of $15.97.

Healthcare Realty Trust (NYSE:HR) last announced its earnings results on Friday, August 2nd. The real estate investment trust reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.77). Healthcare Realty Trust had a negative net margin of 42.79% and a negative return on equity of 8.50%. The company had revenue of $316.30 million during the quarter, compared to the consensus estimate of $317.90 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The business’s revenue was down 6.4% on a year-over-year basis. Sell-side analysts forecast that Healthcare Realty Trust will post 1.56 earnings per share for the current year.

Healthcare Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Monday, August 12th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date of this dividend was Monday, August 12th. Healthcare Realty Trust’s dividend payout ratio is presently -93.23%.

Analyst Upgrades and Downgrades

A number of analysts have commented on HR shares. Scotiabank upped their price target on shares of Healthcare Realty Trust from $17.00 to $18.00 and gave the company a sector perform rating in a research report on Wednesday, August 7th. Wells Fargo & Company lowered Healthcare Realty Trust from an equal weight rating to an underweight rating and cut their target price for the company from $17.00 to $16.00 in a research report on Tuesday, July 30th. Finally, Wedbush raised their price objective on shares of Healthcare Realty Trust from $15.00 to $18.00 and gave the stock a neutral rating in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Healthcare Realty Trust presently has a consensus rating of Hold and an average price target of $17.00.

Insider Buying and Selling

In other Healthcare Realty Trust news, Director Thomas N. Bohjalian purchased 9,000 shares of Healthcare Realty Trust stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $17.39 per share, with a total value of $156,510.00. Following the transaction, the director now owns 22,252 shares in the company, valued at approximately $386,962.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John Knox Singleton acquired 6,500 shares of the stock in a transaction dated Thursday, September 5th. The stock was purchased at an average cost of $18.24 per share, with a total value of $118,560.00. Following the completion of the purchase, the director now directly owns 57,082 shares in the company, valued at approximately $1,041,175.68. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas N. Bohjalian bought 9,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $17.39 per share, for a total transaction of $156,510.00. Following the acquisition, the director now directly owns 22,252 shares of the company’s stock, valued at $386,962.28. The disclosure for this purchase can be found here. Insiders have bought a total of 15,728 shares of company stock worth $279,069 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Healthcare Realty Trust Company Profile

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.