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

Healthpeak Properties, Inc. (NYSE:DOC) announced a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Stockholders of record on Monday, November 4th will be given a dividend of 0.30 per share by the real estate investment trust on Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date is Monday, November 4th.

Healthpeak Properties has increased its dividend by an average of 36.5% annually over the last three years. Healthpeak Properties has a dividend payout ratio of 500.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

Shares of DOC traded down $0.70 during mid-day trading on Friday, reaching $22.30. The company had a trading volume of 7,645,953 shares, compared to its average volume of 5,670,262. The company’s 50 day simple moving average is $22.24 and its 200 day simple moving average is $20.64. Healthpeak Properties has a 1-year low of $15.24 and a 1-year high of $23.26. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $15.69 billion, a price-to-earnings ratio of 65.69, a P/E/G ratio of 2.27 and a beta of 1.14.

Healthpeak Properties (NYSE:DOC) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Healthpeak Properties had a net margin of 11.93% and a return on equity of 3.51%. The company had revenue of $695.50 million during the quarter, compared to analyst estimates of $665.11 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. Analysts expect that Healthpeak Properties will post 1.8 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Scotiabank lifted their target price on shares of Healthpeak Properties from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a research report on Monday, September 9th. Wells Fargo & Company reiterated an “equal weight” rating and set a $23.00 target price (up from $22.00) on shares of Healthpeak Properties in a research report on Tuesday, October 1st. Evercore ISI lifted their target price on shares of Healthpeak Properties from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Healthpeak Properties from a “hold” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $28.00 in a research report on Monday. Finally, Royal Bank of Canada lifted their target price on shares of Healthpeak Properties from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Healthpeak Properties presently has a consensus rating of “Moderate Buy” and an average target price of $22.62.

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.