Healthcare Realty Trust (NYSE:HR) Rating Lowered to Underperform at Wedbush

Healthcare Realty Trust (NYSE:HR) was downgraded by investment analysts at Wedbush from a “neutral” rating to an “underperform” rating in a report released on Thursday, MarketBeat Ratings reports. They currently have a $16.00 price target on the real estate investment trust’s stock, down from their prior price target of $18.00. Wedbush’s target price would suggest a potential downside of 3.44% from the stock’s previous close.

HR has been the subject of a number of other research reports. Wells Fargo & Company restated an “underweight” rating and issued a $17.00 target price (up previously from $16.00) on shares of Healthcare Realty Trust in a report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded Healthcare Realty Trust from an “overweight” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.14.

Healthcare Realty Trust Price Performance

HR stock opened at $16.57 on Thursday. The firm has a market capitalization of $5.87 billion, a P/E ratio of -10.49 and a beta of 0.93. Healthcare Realty Trust has a 52-week low of $12.77 and a 52-week high of $18.90. The company’s 50 day simple moving average is $17.49 and its 200-day simple moving average is $17.55.

Insider Transactions at Healthcare Realty Trust

In other Healthcare Realty Trust news, Director Thomas N. Bohjalian acquired 7,750 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of $17.39 per share, for a total transaction of $134,772.50. Following the completion of the acquisition, the director now owns 50,002 shares of the company’s stock, valued at approximately $869,534.78. This trade represents a 18.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Robert E. Hull sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $17.48, for a total value of $174,800.00. Following the transaction, the chief operating officer now owns 171,400 shares in the company, valued at approximately $2,996,072. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 18,750 shares of company stock valued at $323,723 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Healthcare Realty Trust by 38.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,276 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 628 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Healthcare Realty Trust by 260.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,809 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 2,030 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Healthcare Realty Trust in the third quarter worth $65,000. Wilmington Savings Fund Society FSB bought a new position in Healthcare Realty Trust during the third quarter worth $78,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Healthcare Realty Trust during the 3rd quarter valued at $89,000.

About Healthcare Realty Trust

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.