Scotiabank Cuts Healthpeak Properties (NYSE:DOC) Price Target to $21.00

Healthpeak Properties (NYSE:DOC) had its price target cut by Scotiabank from $23.00 to $21.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a sector outperform rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on DOC. StockNews.com lowered Healthpeak Properties from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. 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 report on Wednesday, January 15th. Evercore ISI decreased their target price on Healthpeak Properties from $23.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Robert W. Baird dropped their price target on shares of Healthpeak Properties from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Finally, Wedbush cut their price objective on shares of Healthpeak Properties from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.25.

Healthpeak Properties Stock Performance

Shares of DOC stock opened at $16.99 on Monday. The firm has a 50 day moving average of $18.97 and a two-hundred day moving average of $20.17. The stock has a market capitalization of $11.80 billion, a PE ratio of 48.54, a P/E/G ratio of 2.17 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.96. Healthpeak Properties has a 52 week low of $16.90 and a 52 week high of $23.26.

Healthpeak Properties (NYSE:DOC) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Healthpeak Properties had a return on equity of 2.61% and a net margin of 9.00%. The business had revenue of $702.89 million during the quarter, compared to analysts’ expectations of $690.76 million. During the same quarter last year, the business posted $0.45 EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts predict that Healthpeak Properties will post 1.86 EPS for the current fiscal year.

Healthpeak Properties Dividend Announcement

The firm also recently announced 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 (DPR) is presently 305.00%.

Insider Transactions at Healthpeak Properties

In related news, Director Tommy G. Thompson purchased 5,700 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average price of $17.36 per share, with a total value of $98,952.00. Following the completion of the acquisition, the director now directly owns 138,513 shares in the company, valued at $2,404,585.68. This represents a 4.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott M. Brinker purchased 11,337 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The stock was bought at an average price of $17.68 per share, for a total transaction of $200,438.16. Following the transaction, the chief executive officer now directly owns 201,863 shares in the company, valued at $3,568,937.84. This trade represents a 5.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 23,987 shares of company stock worth $422,141. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Healthpeak Properties

Several large investors have recently modified their holdings of the stock. TCTC Holdings LLC raised its position in Healthpeak Properties by 124.3% during the 1st quarter. TCTC Holdings LLC now owns 1,355 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 751 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of Healthpeak Properties by 198.9% during the first quarter. Brooklyn Investment Group now owns 1,312 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 873 shares during the period. Mizuho Bank Ltd. acquired a new position in shares of Healthpeak Properties during the fourth quarter worth about $28,000. Harvest Fund Management Co. Ltd purchased a new position in Healthpeak Properties during the fourth quarter worth about $30,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Healthpeak Properties in the first quarter valued at about $30,000. Hedge funds and other institutional investors 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.