Healthpeak Properties (NYSE:DOC) Releases FY24 Earnings Guidance

Healthpeak Properties (NYSE:DOC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.79-1.81 for the period, compared to the consensus estimate of $1.79. Healthpeak Properties also updated its FY 2024 guidance to 1.560-1.580 EPS.

Healthpeak Properties Stock Performance

Healthpeak Properties stock traded down $0.71 during midday trading on Friday, reaching $22.29. 8,801,739 shares of the company’s stock were exchanged, compared to its average volume of 5,678,887. Healthpeak Properties has a 52 week low of $15.24 and a 52 week high of $23.26. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $15.69 billion, a price-to-earnings ratio of 63.69, a P/E/G ratio of 2.27 and a beta of 1.14. The stock’s 50-day simple moving average is $22.24 and its 200 day simple moving average is $20.64.

Healthpeak Properties (NYSE:DOC) last issued its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $665.11 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue was up 27.5% on a year-over-year basis. On average, analysts expect that Healthpeak Properties will post 1.8 earnings per share for the current fiscal year.

Healthpeak Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date of this dividend is Monday, November 4th. Healthpeak Properties’s dividend payout ratio is presently 342.86%.

Analyst Ratings Changes

A number of research firms have recently weighed in on DOC. Wedbush lifted their price target on shares of Healthpeak Properties from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. StockNews.com downgraded shares of Healthpeak Properties from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Scotiabank boosted their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of Healthpeak Properties from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $28.00 in a research note on Monday. Finally, Citigroup boosted their price objective 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. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.