Healthpeak Properties (NYSE:DOC) Posts Earnings Results, Misses Estimates By $0.23 EPS

Healthpeak Properties (NYSE:DOC) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23), Zacks reports. The business had revenue of $695.50 million during the quarter, compared to the consensus estimate of $665.11 million. Healthpeak Properties had a return on equity of 3.69% and a net margin of 11.93%. The business’s revenue was up 27.5% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. Healthpeak Properties updated its FY 2024 guidance to 1.770-1.810 EPS.

Healthpeak Properties Trading Up 5.5 %

Shares of DOC traded up $1.14 during mid-day trading on Friday, reaching $21.90. 8,948,525 shares of the company’s stock traded hands, compared to its average volume of 3,874,896. The stock has a market cap of $15.41 billion, a P/E ratio of 62.57, a P/E/G ratio of 2.73 and a beta of 1.11. The stock’s 50-day moving average is $19.81 and its two-hundred day moving average is $17.23. Healthpeak Properties has a 12 month low of $15.24 and a 12 month high of $22.38. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.69 and a quick ratio of 0.69.

Healthpeak Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.48%. Healthpeak Properties’s dividend payout ratio is 342.87%.

Analyst Ratings Changes

DOC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Healthpeak Properties from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Wedbush raised Healthpeak Properties from a “neutral” rating to an “outperform” rating in a research note on Friday, May 3rd. Bank of America raised Healthpeak Properties from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $25.00 in a research note on Monday, April 1st. StockNews.com raised Healthpeak Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their target price on Healthpeak Properties from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently 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.