Wells Fargo & Company Reaffirms Underweight Rating for Healthcare Realty Trust (NYSE:HR)

Healthcare Realty Trust (NYSE:HR)‘s stock had its “underweight” rating restated by analysts at Wells Fargo & Company in a research note issued on Tuesday, Benzinga reports. They currently have a $17.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $16.00. Wells Fargo & Company‘s price target suggests a potential downside of 5.61% from the stock’s previous close.

A number of other brokerages have also issued reports on HR. Wedbush boosted their price target on Healthcare Realty Trust from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Scotiabank upped their price objective on shares of Healthcare Realty Trust from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.13.

Healthcare Realty Trust Price Performance

Shares of HR stock traded down $0.14 during trading hours on Tuesday, reaching $18.01. The stock had a trading volume of 248,461 shares, compared to its average volume of 3,560,040. The firm has a 50-day simple moving average of $17.86 and a 200-day simple moving average of $16.29. The firm has a market capitalization of $6.82 billion, a PE ratio of -13.49 and a beta of 0.91. Healthcare Realty Trust has a twelve month low of $12.77 and a twelve month high of $18.90.

Healthcare Realty Trust (NYSE:HR) last announced 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 net margin of 42.79% and a negative return on equity of 8.50%. The firm had revenue of $316.30 million during the quarter, compared to analyst estimates of $317.90 million. During the same quarter in the previous year, the business posted $0.39 EPS. Healthcare Realty Trust’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Healthcare Realty Trust will post 1.56 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Muzinich & Co. Inc. lifted its position in shares of Healthcare Realty Trust by 98.1% in the 4th quarter. Muzinich & Co. Inc. now owns 2,179 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,079 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Healthcare Realty Trust by 38.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,276 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 628 shares during the period. Quarry LP purchased a new position in shares of Healthcare Realty Trust during the fourth quarter valued at $39,000. EverSource Wealth Advisors LLC grew its holdings in shares of Healthcare Realty Trust by 260.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,809 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 2,030 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in Healthcare Realty Trust during the fourth quarter valued at $85,000.

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.