Associated Banc Corp Trims Holdings in Healthpeak Properties, Inc. (NYSE:DOC)

Key Points

• Associated Banc Corp has reduced its stake in Healthpeak Properties, Inc. by 66.7%, selling 284,474 shares in the first quarter, resulting in holdings worth approximately $2.87 million.
• Institutional investors now own 93.57% of Healthpeak Properties, with significant increases from several hedge funds during the fourth quarter, including increases of over 10% from multiple firms.
• Despite recent fluctuations, Healthpeak Properties has a consensus rating of "Moderate Buy" with an average price target of $23.00 per share from analysts.

Associated Banc Corp lessened its holdings in shares of Healthpeak Properties, Inc. (NYSE:DOC - Free Report) by 66.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 141,880 shares of the real estate investment trust's stock after selling 284,474 shares during the period. Associated Banc Corp's holdings in Healthpeak Properties were worth $2,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Resolution Capital Ltd acquired a new stake in shares of Healthpeak Properties during the fourth quarter valued at approximately $122,795,000. Long Pond Capital LP acquired a new position in shares of Healthpeak Properties during the 4th quarter valued at about $86,885,000. Northern Trust Corp lifted its stake in shares of Healthpeak Properties by 32.6% in the fourth quarter. Northern Trust Corp now owns 10,526,223 shares of the real estate investment trust's stock worth $213,367,000 after buying an additional 2,590,530 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Healthpeak Properties by 10.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 17,267,917 shares of the real estate investment trust's stock worth $350,021,000 after acquiring an additional 1,651,235 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in Healthpeak Properties by 160.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,591,773 shares of the real estate investment trust's stock valued at $52,535,000 after buying an additional 1,596,740 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Tommy G. Thompson acquired 5,777 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was bought at an average cost of $17.27 per share, for a total transaction of $99,768.79. Following the acquisition, the director directly owned 144,290 shares in the company, valued at approximately $2,491,888.30. The trade was a 4.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott M. Brinker acquired 2,930 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $17.06 per share, for a total transaction of $49,985.80. Following the transaction, the chief executive officer owned 210,416 shares of the company's stock, valued at $3,589,696.96. This trade represents a 1.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 14,560 shares of company stock valued at $249,898 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Healthpeak Properties Price Performance

DOC stock remained flat at $16.96 during trading on Friday. 7,198,617 shares of the company's stock were exchanged, compared to its average volume of 7,883,368. The stock has a 50 day moving average price of $17.65 and a 200 day moving average price of $18.62. The stock has a market cap of $11.79 billion, a P/E ratio of 70.67, a price-to-earnings-growth ratio of 2.17 and a beta of 1.05. Healthpeak Properties, Inc. has a twelve month low of $16.64 and a twelve month high of $23.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.28 and a quick ratio of 1.28.

Healthpeak Properties (NYSE:DOC - Get Free Report) last posted its earnings results on Thursday, July 24th. The real estate investment trust reported $0.46 earnings per share for the quarter, meeting analysts' consensus estimates of $0.46. The business had revenue of $694.35 million during the quarter, compared to analyst estimates of $697.14 million. Healthpeak Properties had a return on equity of 1.85% and a net margin of 5.90%. The company's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. As a group, research analysts predict that Healthpeak Properties, Inc. will post 1.86 earnings per share for the current fiscal year.

Healthpeak Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be given a dividend of $0.1017 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a c) dividend on an annualized basis and a yield of 7.2%. Healthpeak Properties's dividend payout ratio is presently 508.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DOC. Robert W. Baird set a $21.00 price objective on Healthpeak Properties and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Evercore ISI decreased their price objective on shares of Healthpeak Properties from $23.00 to $21.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Wedbush cut their price target on Healthpeak Properties from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Wall Street Zen lowered shares of Healthpeak Properties from a "hold" rating to a "sell" rating in a report on Monday, July 7th. Finally, Argus reaffirmed a "buy" rating and issued a $25.00 price target on shares of Healthpeak Properties in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Healthpeak Properties has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

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.