Healthpeak Properties (NYSE:DOC) Reaches New 52-Week High – Here’s Why

Healthpeak Properties, Inc. (NYSE:DOC) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.15 and last traded at $23.09, with a volume of 5079497 shares trading hands. The stock had previously closed at $22.43.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com cut Healthpeak Properties from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Scotiabank boosted their price objective on Healthpeak Properties from $23.00 to $24.00 and gave the company a “sector outperform” rating in a research report on Monday, September 9th. Royal Bank of Canada boosted their price objective on Healthpeak Properties from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Evercore ISI boosted their price objective on Healthpeak Properties from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $23.00 price objective (up from $22.00) on shares of Healthpeak Properties in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.62.

Healthpeak Properties Trading Down 3.1 %

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 cap of $15.69 billion, a price-to-earnings ratio of 63.69, a price-to-earnings-growth ratio of 2.27 and a beta of 1.14. The business has a 50 day simple moving average of $22.24 and a 200 day simple moving average of $20.64.

Healthpeak Properties (NYSE:DOC) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The business had revenue of $695.50 million during the quarter, compared to analyst estimates of $665.11 million. Healthpeak Properties had a return on equity of 3.51% and a net margin of 11.93%. Healthpeak Properties’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. As a group, equities analysts forecast that Healthpeak Properties, Inc. will post 1.8 EPS for the current year.

Healthpeak Properties Dividend Announcement

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

Hedge Funds Weigh In On Healthpeak Properties

Large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Healthpeak Properties in the second quarter valued at about $66,000. Point72 DIFC Ltd bought a new stake in Healthpeak Properties in the second quarter valued at about $161,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Healthpeak Properties in the second quarter valued at about $9,024,000. Centaurus Financial Inc. bought a new stake in Healthpeak Properties in the second quarter valued at about $227,000. Finally, Massmutual Trust Co. FSB ADV bought a new stake in Healthpeak Properties in the third quarter valued at about $108,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

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.