Healthpeak Properties, Inc. Announces Quarterly Dividend of $0.30 (NYSE:DOC)

Healthpeak Properties, Inc. (NYSE:DOC) announced a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Shareholders of record on Monday, November 4th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date is Monday, November 4th.

Healthpeak Properties has raised its dividend payment by an average of 36.5% per year over the last three years. Healthpeak Properties has a payout ratio of 500.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Healthpeak Properties to earn $1.87 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 64.2%.

Healthpeak Properties Stock Down 3.0 %

Shares of NYSE DOC traded down $0.70 during trading on Friday, hitting $22.30. The stock had a trading volume of 7,645,953 shares, compared to its average volume of 5,670,262. Healthpeak Properties has a 12 month low of $15.24 and a 12 month high of $23.26. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $15.69 billion, a PE ratio of 65.69, a PEG ratio of 2.27 and a beta of 1.14. The firm has a fifty day moving average of $22.24 and a two-hundred day moving average of $20.64.

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). Healthpeak Properties had a return on equity of 3.51% and a net margin of 11.93%. The firm had revenue of $695.50 million during the quarter, compared to the consensus estimate of $665.11 million. During the same quarter in the previous year, the company earned $0.45 EPS. The business’s revenue was up 27.5% compared to the same quarter last year. As a group, equities research analysts forecast that Healthpeak Properties will post 1.8 EPS for the current fiscal year.

Analyst Ratings Changes

DOC has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of Healthpeak Properties from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a research note on Monday, September 9th. Citigroup upped their target price on shares of Healthpeak Properties from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Royal Bank of Canada boosted their price target on shares of Healthpeak Properties from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Evercore ISI boosted their price target on shares of Healthpeak Properties from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, StockNews.com downgraded shares of Healthpeak Properties from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.62.

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.