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

by · The Markets Daily

Healthpeak Properties, Inc. (NYSE:DOC – Get Free Report) announced a quarterly dividend on Thursday, October 24th, 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 of this dividend is Monday, November 4th.

Healthpeak Properties has increased its dividend payment by an average of 36.5% annually over the last three years. Healthpeak Properties has a payout ratio of 500.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Performance

DOC stock traded down $0.71 during midday trading on Friday, reaching $22.29. 8,801,739 shares of the company’s stock traded hands, 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 stock has a market cap of $15.69 billion, a P/E ratio of 63.69, a PEG ratio of 2.27 and a beta of 1.14. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.91. The stock’s 50-day moving average is $22.24 and its 200 day moving average is $20.64.

Healthpeak Properties (NYSE:DOC – Get Free Report) last announced its earnings results 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). Healthpeak Properties had a net margin of 11.93% and a return on equity of 3.51%. The business had revenue of $695.50 million for the quarter, compared to analysts’ expectations of $665.11 million. During the same period in the prior year, the company posted $0.45 earnings per share. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. As a group, analysts anticipate that Healthpeak Properties will post 1.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DOC. Deutsche Bank Aktiengesellschaft upgraded shares of Healthpeak Properties from a “hold” rating to a “buy” rating and upped their price target for the stock from $20.00 to $28.00 in a research report on Monday. Scotiabank upped their price target on shares of Healthpeak Properties from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a research report 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 report on Thursday, August 22nd. Wedbush upped their target price on shares of Healthpeak Properties from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $23.00 target price (up previously 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.62.

Check Out Our Latest Stock Report on Healthpeak Properties

Healthpeak Properties Company Profile

(Get Free Report)

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.

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