Healthcare Realty Trust (NYSE:HR) Releases FY24 Earnings Guidance

Healthcare Realty Trust (NYSE:HR) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.53-1.58 for the period, compared to the consensus estimate of $1.55.

Wall Street Analysts Forecast Growth

HR has been the topic of several recent research reports. Scotiabank upped their target price on shares of Healthcare Realty Trust from $17.00 to $18.00 and gave the company a sector perform rating in a research report on Wednesday, August 7th. Wells Fargo & Company downgraded Healthcare Realty Trust from an equal weight rating to an underweight rating and decreased their price objective for the company from $17.00 to $16.00 in a research report on Tuesday, July 30th. Finally, Wedbush raised their price objective on Healthcare Realty Trust from $15.00 to $18.00 and gave the company a neutral rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $17.00.

Healthcare Realty Trust Stock Performance

HR stock traded down $0.14 during midday trading on Monday, reaching $18.64. The company’s stock had a trading volume of 1,934,184 shares, compared to its average volume of 3,560,235. Healthcare Realty Trust has a 1 year low of $12.77 and a 1 year high of $18.89. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of -14.02 and a beta of 0.91. The stock has a fifty day simple moving average of $17.72 and a two-hundred day simple moving average of $15.94.

Healthcare Realty Trust (NYSE:HR) last posted its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.77). Healthcare Realty Trust had a negative return on equity of 8.50% and a negative net margin of 42.79%. The company had revenue of $316.30 million during the quarter, compared to analysts’ expectations of $317.90 million. During the same period in the prior year, the business earned $0.39 EPS. The company’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, analysts forecast that Healthcare Realty Trust will post 1.56 EPS for the current fiscal year.

Healthcare Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Monday, August 12th were issued a $0.31 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.65%. Healthcare Realty Trust’s payout ratio is -93.23%.

Insiders Place Their Bets

In other news, Director John Knox Singleton acquired 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average cost of $18.24 per share, for a total transaction of $118,560.00. Following the completion of the acquisition, the director now directly owns 57,082 shares of the company’s stock, valued at approximately $1,041,175.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Thomas N. Bohjalian bought 9,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $17.39 per share, with a total value of $156,510.00. Following the transaction, the director now owns 22,252 shares of the company’s stock, valued at $386,962.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Knox Singleton purchased 6,500 shares of Healthcare Realty Trust stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of $18.24 per share, with a total value of $118,560.00. Following the completion of the transaction, the director now owns 57,082 shares in the company, valued at approximately $1,041,175.68. The disclosure for this purchase can be found here. Insiders have bought 15,728 shares of company stock worth $279,069 in the last ninety days. 0.56% of the stock is owned by company insiders.

About Healthcare Realty Trust

Healthcare Realty (NYSE: HR) is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As the first and largest REIT to specialize in medical outpatient buildings, Healthcare Realty's portfolio includes more than 700 properties totaling over 40 million square feet concentrated in 15 growth markets.