Wells Fargo & Company Cuts Healthpeak Properties (NYSE:DOC) Price Target to $22.00

Healthpeak Properties (NYSE:DOC) had its target price decreased by Wells Fargo & Company from $23.00 to $22.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Several other research firms also recently commented on DOC. Mizuho reduced their price target on shares of Healthpeak Properties from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Scotiabank raised their price target on shares of Healthpeak Properties from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a research note on Monday, September 9th. Royal Bank of Canada 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, November 4th. Evercore ISI increased their target price on shares of Healthpeak Properties from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, Citigroup increased their target price on shares of Healthpeak Properties from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.93.

Healthpeak Properties Price Performance

Healthpeak Properties stock opened at $20.93 on Tuesday. The firm has a 50-day moving average price of $21.97 and a 200-day moving average price of $21.33. The firm has a market capitalization of $14.64 billion, a PE ratio of 44.53, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.93. Healthpeak Properties has a 12-month low of $16.01 and a 12-month high of $23.26.

Healthpeak Properties (NYSE:DOC) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.32). The company had revenue of $700.40 million during the quarter, compared to analysts’ expectations of $682.51 million. Healthpeak Properties had a return on equity of 3.53% and a net margin of 12.10%. The company’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. As a group, equities research analysts forecast that Healthpeak Properties will post 1.8 EPS for the current year.

Healthpeak Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.73%. The ex-dividend date of this dividend was Monday, November 4th. Healthpeak Properties’s payout ratio is 255.32%.

Institutional Trading of Healthpeak Properties

Hedge funds have recently modified their holdings of the company. HM Payson & Co. purchased a new stake in shares of Healthpeak Properties during the third quarter valued at about $25,000. S.A. Mason LLC acquired a new position in shares of Healthpeak Properties during the third quarter valued at about $26,000. Rise Advisors LLC acquired a new position in shares of Healthpeak Properties during the third quarter valued at about $29,000. Fortitude Family Office LLC purchased a new stake in Healthpeak Properties in the third quarter valued at approximately $32,000. Finally, Barrett & Company Inc. purchased a new stake in Healthpeak Properties in the third quarter valued at approximately $33,000. 93.57% of the stock is owned by hedge funds and other institutional investors.

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.