10,962,604 Shares in Healthpeak Properties, Inc. $DOC Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 10.96 million Healthpeak Properties shares in the second quarter, worth approximately $234.6 million and representing a 1.59% stake. Institutional investors collectively own 93.57% of DOC.
• Analysts remain cautious, with a consensus rating of “Hold” and an average price target of $22.10. Recent target prices range from $21.00 to $24.00.
• Healthpeak reported quarterly EPS of $0.08, beating estimates of $0.03, while revenue rose 11.1% year over year to $771.58 million. The REIT also declared a monthly dividend of $0.1017 per share, equating to an indicated 6.0% yield.

Bank of America Corp DE purchased a new position in shares of Healthpeak Properties, Inc. (NYSE:DOC - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,962,604 shares of the real estate investment trust's stock, valued at approximately $234,600,000. Bank of America Corp DE owned 1.59% of Healthpeak Properties at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in DOC. First Bancorp Inc ME bought a new position in shares of Healthpeak Properties during the second quarter worth about $43,000. Jupiter Topco LLC bought a new stake in shares of Healthpeak Properties during the second quarter valued at about $6,550,000. Canada Pension Plan Investment Board acquired a new stake in Healthpeak Properties in the second quarter worth about $441,000. Jones Financial Companies Lllp grew its position in Healthpeak Properties by 10.7% in the 2nd quarter. Jones Financial Companies Lllp now owns 263,547 shares of the real estate investment trust's stock valued at $5,679,000 after buying an additional 25,445 shares in the last quarter. Finally, Allstate Corp increased its stake in Healthpeak Properties by 13.4% during the 2nd quarter. Allstate Corp now owns 148,716 shares of the real estate investment trust's stock valued at $3,183,000 after buying an additional 17,564 shares during the period. Institutional investors own 93.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DOC. Jefferies Financial Group reaffirmed a "hold" rating and set a $21.00 price target (down from $22.00) on shares of Healthpeak Properties in a research note on Tuesday. UBS Group raised their price objective on Healthpeak Properties from $19.00 to $21.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Barclays lifted their target price on Healthpeak Properties from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, August 31st. Scotiabank boosted their target price on Healthpeak Properties from $19.00 to $21.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 27th. Finally, Cantor Fitzgerald upped their target price on Healthpeak Properties from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $22.10.

Healthpeak Properties Stock Performance

Shares of DOC opened at $20.33 on Thursday. The company has a market capitalization of $14.02 billion, a PE ratio of 58.10, a PEG ratio of 2.48 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.02 and a current ratio of 3.02. The company's 50 day moving average price is $21.33 and its 200 day moving average price is $19.52. Healthpeak Properties, Inc. has a 52 week low of $15.70 and a 52 week high of $22.95.

Healthpeak Properties (NYSE:DOC - Get Free Report) last issued its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.05. Healthpeak Properties had a return on equity of 2.79% and a net margin of 8.24%.The firm had revenue of $771.58 million for the quarter, compared to the consensus estimate of $725.64 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. Healthpeak Properties has set its FY 2026 guidance at 1.730-1.770 EPS. Research analysts expect that Healthpeak Properties, Inc. will post 1.77 EPS for the current fiscal year.

Healthpeak Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 25th. Investors of record on Monday, September 14th will be paid a $0.1017 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, September 14th. Healthpeak Properties's dividend payout ratio (DPR) is presently 348.57%.

About Healthpeak Properties

Healthpeak Properties, Inc NYSE: DOC is a real estate investment trust that owns, develops, leases and manages healthcare-related properties in the United States. The company focuses primarily on outpatient medical buildings, which are leased to healthcare providers, physician groups and other medical users.

Healthpeak's portfolio also includes life science and senior housing properties, although its business has increasingly centered on outpatient medical real estate. Its properties are generally located in established healthcare markets and are designed to support services such as physician offices, specialty care, diagnostics and ambulatory treatment.

The company was formerly known as HCP, Inc and adopted the Healthpeak Properties name in 2019.

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