Healthcare Realty Trust (NYSE:HR) Issues 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.

Healthcare Realty Trust Price Performance

Shares of NYSE:HR opened at $18.03 on Thursday. The business’s fifty day moving average price is $17.78 and its two-hundred day moving average price is $16.00. Healthcare Realty Trust has a fifty-two week low of $12.77 and a fifty-two week high of $18.90. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -13.55 and a beta of 0.91.

Healthcare Realty Trust (NYSE:HR) last announced its earnings results on Friday, August 2nd. The real estate investment trust reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.77). The firm had revenue of $316.30 million for the quarter, compared to analyst estimates of $317.90 million. Healthcare Realty Trust had a negative return on equity of 8.50% and a negative net margin of 42.79%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 EPS. Research analysts expect that Healthcare Realty Trust will post 1.56 EPS for the current fiscal year.

Healthcare Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Monday, August 12th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date of this dividend was Monday, August 12th. Healthcare Realty Trust’s dividend payout ratio (DPR) is currently -93.23%.

Analyst Upgrades and Downgrades

HR has been the subject of a number of recent analyst reports. Scotiabank raised their price target on Healthcare Realty Trust from $17.00 to $18.00 and gave the company a sector perform rating in a report on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Healthcare Realty Trust from an equal weight rating to an underweight rating and reduced their price target for the stock from $17.00 to $16.00 in a research report on Tuesday, July 30th. Finally, Wedbush boosted their target price on shares of Healthcare Realty Trust from $15.00 to $18.00 and gave the stock a neutral rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Healthcare Realty Trust presently has an average rating of Hold and an average price target of $17.00.

Insider Activity

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