612,615 Shares in National Healthcare Properties, Inc. $NHP Acquired by State Street Corp

Key Points

• State Street Corp. acquired 612,615 shares of National Healthcare Properties in the second quarter, valued at approximately $8.98 million and representing about 0.84% of the company. Several other hedge funds, including Alyeska Investment Group and Irenic Capital, also established new positions.
• National Healthcare Properties reported quarterly revenue of $87.53 million and a loss of $0.13 per share. The company declared a quarterly dividend of $0.075 per share, or $0.30 annually, yielding approximately 1.9%.
• Analysts have a consensus “Hold” rating with an average price target of $18.22, compared with the stock’s reported price of $16.03. Recent price-target increases included Wells Fargo’s move to $19 and Baird’s move to $18.

State Street Corp purchased a new position in National Healthcare Properties, Inc. (NASDAQ:NHP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 612,615 shares of the company's stock, valued at approximately $8,975,000. State Street Corp owned approximately 0.84% of National Healthcare Properties as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Alyeska Investment Group L.P. bought a new position in shares of National Healthcare Properties during the 2nd quarter valued at about $37,278,000. Irenic Capital Management LP bought a new stake in shares of National Healthcare Properties during the 2nd quarter worth approximately $8,052,000. Citadel Advisors LLC purchased a new stake in shares of National Healthcare Properties during the second quarter valued at $7,325,000. Squarepoint Ops LLC purchased a new stake in shares of National Healthcare Properties during the second quarter valued at $5,233,000. Finally, Readystate Asset Management LP bought a new position in shares of National Healthcare Properties in the second quarter worth about $747,000.

National Healthcare Properties Stock Down 1.2%

Shares of NASDAQ NHP opened at $16.03 on Friday. The firm has a market capitalization of $1.17 billion and a price-to-earnings ratio of -123.31. National Healthcare Properties, Inc. has a 52-week low of $11.25 and a 52-week high of $17.46. The firm has a 50-day moving average of $16.19. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

National Healthcare Properties (NASDAQ:NHP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter. National Healthcare Properties had a negative return on equity of 6.22% and a negative net margin of 13.04%.The firm had revenue of $87.53 million for the quarter. During the same period in the prior year, the business posted ($0.85) EPS. Equities research analysts anticipate that National Healthcare Properties, Inc. will post 0.7 EPS for the current fiscal year.

National Healthcare Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Wednesday, July 15th were given a dividend of $0.0750 per share. The ex-dividend date was Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a yield of 1.9%. National Healthcare Properties's payout ratio is presently -230.77%.

Analyst Ratings Changes

Several research firms have commented on NHP. Royal Bank Of Canada raised their price objective on National Healthcare Properties from $15.00 to $17.00 and gave the stock a "sector perform" rating in a report on Monday, August 17th. Citigroup restated an "outperform" rating on shares of National Healthcare Properties in a report on Monday, August 10th. Robert W. Baird upped their price objective on shares of National Healthcare Properties from $17.00 to $18.00 and gave the stock an "outperform" rating in a research note on Thursday, August 20th. Wells Fargo & Company lifted their price objective on shares of National Healthcare Properties from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Tuesday, September 1st. Finally, Zacks Research upgraded National Healthcare Properties to a "hold" rating in a report on Tuesday, June 9th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.22.

National Healthcare Properties Profile

National Healthcare Properties, Inc was a healthcare real estate investment trust (REIT) that owned and leased properties used by healthcare providers. Its portfolio included skilled nursing facilities, assisted living communities, medical office buildings and other healthcare-related properties.

The company generally generated revenue through long-term leases with healthcare operators and served markets across the United States. Its business model focused on owning healthcare real estate and providing facilities for senior care, post-acute care and medical services.

National Healthcare Properties was formerly publicly traded under the ticker NHP on the New York Stock Exchange.

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