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

Healthpeak Properties, Inc. (NYSE:DOC) announced a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 5.38%. The ex-dividend date of this dividend is Monday, November 4th.

Healthpeak Properties has increased its dividend by an average of 36.5% per year over the last three years. Healthpeak Properties has a payout ratio of 500.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Trading Down 3.1 %

Shares of DOC traded down $0.71 during midday trading on Friday, hitting $22.29. The stock had a trading volume of 8,801,739 shares, compared to its average volume of 5,678,887. Healthpeak Properties has a 1 year low of $15.24 and a 1 year high of $23.26. The firm has a market cap of $15.69 billion, a PE ratio of 63.69, a price-to-earnings-growth ratio of 2.27 and a beta of 1.14. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s 50 day moving average is $22.24 and its 200 day moving average is $20.64.

Healthpeak Properties (NYSE:DOC) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). The firm had revenue of $695.50 million during the quarter, compared to analysts’ expectations of $665.11 million. Healthpeak Properties had a net margin of 11.93% and a return on equity of 3.51%. The company’s revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS. As a group, analysts forecast that Healthpeak Properties will post 1.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of Healthpeak Properties from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Royal Bank of Canada raised their price target on shares of Healthpeak Properties from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Wedbush raised their price target on shares of Healthpeak Properties from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Healthpeak Properties in a research note on Tuesday, October 1st. Finally, Evercore ISI raised their price target on shares of Healthpeak Properties from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.62.

Healthpeak Properties Company Profile

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.