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

Healthpeak Properties, Inc. (NYSE:DOC) announced a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Investors of record on Monday, August 5th will be given a dividend of 0.30 per share by the real estate investment trust on Friday, August 16th. This represents a $1.20 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend is Monday, August 5th.

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 240.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Healthpeak Properties to earn $1.86 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 64.5%.

Healthpeak Properties Stock Performance

Shares of NYSE DOC traded up $1.14 during midday trading on Friday, hitting $21.90. 8,948,047 shares of the stock traded hands, compared to its average volume of 6,057,449. The firm has a market capitalization of $15.41 billion, a P/E ratio of 62.52, a PEG ratio of 2.59 and a beta of 1.11. Healthpeak Properties has a one year low of $15.24 and a one year high of $22.38. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a 50-day moving average of $19.77 and a two-hundred day moving average of $17.14.

Wall Street Analyst Weigh In

DOC has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on Healthpeak Properties from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Bank of America raised shares of Healthpeak Properties from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $18.00 to $25.00 in a research report on Monday, April 1st. StockNews.com raised Healthpeak Properties from a “sell” rating to a “hold” rating in a research report on Tuesday. Argus raised Healthpeak Properties to a “strong-buy” rating in a research report on Thursday, May 9th. Finally, Wedbush raised shares of Healthpeak Properties from a “neutral” rating to an “outperform” rating in a research note on Friday, May 3rd. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Healthpeak Properties currently has a consensus rating of “Moderate Buy” and an average price target of $19.90.

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.