Healthpeak Properties (NYSE:DOC) Reaches New 12-Month Low Following Analyst Downgrade

Healthpeak Properties, Inc. (NYSE:DOC) hit a new 52-week low during mid-day trading on Tuesday after Scotiabank lowered their price target on the stock from $23.00 to $21.00. Scotiabank currently has a sector outperform rating on the stock. Healthpeak Properties traded as low as $17.18 and last traded at $17.21, with a volume of 577836 shares trading hands. The stock had previously closed at $17.55.

Other research analysts have also issued research reports about the stock. StockNews.com lowered shares of Healthpeak Properties from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. Argus restated a “buy” rating and set a $25.00 target price on shares of Healthpeak Properties in a report on Tuesday, April 29th. Evercore ISI lowered their price target on Healthpeak Properties from $23.00 to $21.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Morgan Stanley upgraded Healthpeak Properties from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research note on Wednesday, January 15th. Finally, Robert W. Baird decreased their target price on Healthpeak Properties from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Healthpeak Properties presently has an average rating of “Moderate Buy” and a consensus price target of $23.25.

Insider Buying and Selling

In related news, Director John T. Thomas bought 4,200 shares of the company’s stock in a transaction dated Monday, April 28th. The stock was bought at an average price of $17.84 per share, with a total value of $74,928.00. Following the transaction, the director now owns 813,566 shares of the company’s stock, valued at approximately $14,514,017.44. This trade represents a 0.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tommy G. Thompson bought 5,700 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was bought at an average price of $17.36 per share, for a total transaction of $98,952.00. Following the purchase, the director now owns 138,513 shares in the company, valued at approximately $2,404,585.68. This represents a 4.29% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 23,987 shares of company stock worth $422,141. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Healthpeak Properties

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in Healthpeak Properties by 20.7% during the 1st quarter. Invesco Ltd. now owns 23,111,320 shares of the real estate investment trust’s stock worth $467,311,000 after buying an additional 3,967,830 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Healthpeak Properties by 23.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,561,640 shares of the real estate investment trust’s stock valued at $493,115,000 after acquiring an additional 4,056,931 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Healthpeak Properties by 6.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 18,397,841 shares of the real estate investment trust’s stock worth $372,004,000 after purchasing an additional 1,129,924 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Healthpeak Properties by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 18,355,772 shares of the real estate investment trust’s stock worth $371,168,000 after purchasing an additional 638,012 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Healthpeak Properties by 2,113.5% in the fourth quarter. Principal Financial Group Inc. now owns 18,133,812 shares of the real estate investment trust’s stock worth $367,575,000 after purchasing an additional 17,314,572 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Healthpeak Properties Stock Down 1.5%

The stock’s fifty day simple moving average is $18.97 and its two-hundred day simple moving average is $20.17. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 2.17 and a beta of 1.05.

Healthpeak Properties (NYSE:DOC) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. The business had revenue of $702.89 million for the quarter, compared to analysts’ expectations of $690.76 million. Healthpeak Properties had a return on equity of 2.61% and a net margin of 9.00%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. On average, sell-side analysts predict that Healthpeak Properties, Inc. will post 1.86 earnings per share for the current fiscal year.

Healthpeak Properties Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 18th were given a dividend of $0.1017 per share. The ex-dividend date was Thursday, April 17th. This represents a dividend yield of 6.5%. Healthpeak Properties’s dividend payout ratio is currently 305.00%.

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.