PGGM Investments Trims Stake in Healthpeak Properties, Inc. (NYSE:DOC)

PGGM Investments lessened its position in Healthpeak Properties, Inc. (NYSE:DOC) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,166,234 shares of the real estate investment trust’s stock after selling 172,680 shares during the quarter. Healthpeak Properties accounts for 1.9% of PGGM Investments’ portfolio, making the stock its 11th largest position. PGGM Investments owned about 1.02% of Healthpeak Properties worth $145,260,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DOC. State Street Corp bought a new stake in Healthpeak Properties during the 3rd quarter valued at $1,093,576,000. JPMorgan Chase & Co. increased its stake in shares of Healthpeak Properties by 23.2% during the third quarter. JPMorgan Chase & Co. now owns 21,561,640 shares of the real estate investment trust’s stock valued at $493,115,000 after buying an additional 4,056,931 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Healthpeak Properties by 2,113.5% in the fourth quarter. Principal Financial Group Inc. now owns 18,133,812 shares of the real estate investment trust’s stock valued at $367,575,000 after acquiring an additional 17,314,572 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Healthpeak Properties in the third quarter worth about $403,898,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Healthpeak Properties by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,153,450 shares of the real estate investment trust’s stock worth $205,810,000 after acquiring an additional 53,392 shares in the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOC has been the topic of several research reports. Scotiabank cut their price objective on shares of Healthpeak Properties from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Friday, February 28th. Robert W. Baird cut their price target on Healthpeak Properties from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Morgan Stanley upgraded Healthpeak Properties from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a research note on Wednesday, January 15th. Wedbush dropped their price objective on Healthpeak Properties from $27.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 14th. Finally, Mizuho reduced their target price on shares of Healthpeak Properties from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.92.

Healthpeak Properties Stock Performance

NYSE:DOC opened at $20.21 on Thursday. The company has a fifty day simple moving average of $20.21 and a two-hundred day simple moving average of $21.26. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.96. Healthpeak Properties, Inc. has a 52 week low of $16.66 and a 52 week high of $23.26. The company has a market cap of $14.13 billion, a price-to-earnings ratio of 57.73, a price-to-earnings-growth ratio of 2.17 and a beta of 1.14.

Healthpeak Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Friday, February 14th were given a dividend of $0.305 per share. This is a boost from Healthpeak Properties’s previous quarterly dividend of $0.30. This represents a $1.22 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend was Friday, February 14th. Healthpeak Properties’s dividend payout ratio is currently 348.57%.

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.