Bank of New York Mellon Corp Raises Position in Healthpeak Properties, Inc. $DOC

Key Points

• Bank of New York Mellon increased its stake in Healthpeak Properties by 42.7% in the fourth quarter, bringing its holdings to 9.64 million shares worth about $155 million.
• Healthpeak Properties recently reported better-than-expected quarterly results, posting EPS of $0.45 versus estimates of $0.43 and revenue of $752.95 million, up 7.1% year over year.
• The REIT declared a monthly dividend of $0.1017 per share, implying an annualized yield of 6.2%, while analysts currently rate the stock a consensus Hold with a target price of $19.38.

Bank of New York Mellon Corp grew its position in Healthpeak Properties, Inc. (NYSE:DOC - Free Report) by 42.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,641,231 shares of the real estate investment trust's stock after purchasing an additional 2,887,084 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.39% of Healthpeak Properties worth $155,031,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of DOC. State Street Corp raised its stake in Healthpeak Properties by 1.8% during the 3rd quarter. State Street Corp now owns 49,498,109 shares of the real estate investment trust's stock worth $947,889,000 after acquiring an additional 895,460 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Healthpeak Properties by 41.0% in the third quarter. JPMorgan Chase & Co. now owns 28,236,534 shares of the real estate investment trust's stock valued at $540,730,000 after purchasing an additional 8,212,504 shares during the period. Geode Capital Management LLC increased its stake in Healthpeak Properties by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 19,534,041 shares of the real estate investment trust's stock valued at $312,959,000 after purchasing an additional 123,274 shares during the period. Dimensional Fund Advisors LP increased its stake in Healthpeak Properties by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 10,228,560 shares of the real estate investment trust's stock valued at $195,873,000 after purchasing an additional 400,900 shares during the period. Finally, Bank of America Corp DE increased its stake in Healthpeak Properties by 28.5% in the third quarter. Bank of America Corp DE now owns 9,936,934 shares of the real estate investment trust's stock valued at $190,292,000 after purchasing an additional 2,206,222 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Healthpeak Properties Stock Performance

NYSE:DOC opened at $19.80 on Friday. The firm has a 50 day simple moving average of $17.96 and a 200-day simple moving average of $17.39. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.96 and a quick ratio of 2.96. The firm has a market cap of $13.65 billion, a PE ratio of 61.87, a P/E/G ratio of 3.09 and a beta of 1.05. Healthpeak Properties, Inc. has a 1-year low of $15.70 and a 1-year high of $20.27.

Healthpeak Properties (NYSE:DOC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.02. The business had revenue of $752.95 million during the quarter, compared to analyst estimates of $694.59 million. Healthpeak Properties had a net margin of 7.73% and a return on equity of 2.61%. The company's revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 earnings per share. Healthpeak Properties has set its FY 2026 guidance at 1.710-1.750 EPS. On average, equities analysts expect that Healthpeak Properties, Inc. will post 1.74 EPS for the current year.

Healthpeak Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 15th will be given a dividend of $0.1017 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 6.2%. Healthpeak Properties's dividend payout ratio is 381.25%.

Insider Buying and Selling

In related news, insider Scott R. Bohn sold 10,989 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $19.45, for a total transaction of $213,736.05. Following the completion of the transaction, the insider owned 7,636 shares of the company's stock, valued at approximately $148,520.20. This represents a 59.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company's stock.

Analyst Ratings Changes

DOC has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Healthpeak Properties from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. Weiss Ratings raised shares of Healthpeak Properties from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 8th. Robert W. Baird lifted their target price on shares of Healthpeak Properties from $19.00 to $21.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Morgan Stanley lifted their target price on shares of Healthpeak Properties from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Friday, May 22nd. Finally, Scotiabank boosted their price objective on shares of Healthpeak Properties from $19.00 to $21.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $19.38.

About Healthpeak Properties

Healthpeak Properties, Inc is a real estate investment trust (REIT) specializing in healthcare-related real estate. Headquartered in Irvine, California, the company owns, develops and acquires a diversified portfolio of properties that cater to the evolving needs of the healthcare industry. Its investments span life science research facilities, medical office buildings and senior housing communities, positioning Healthpeak as a key provider of specialized real estate assets.

Within its life science segment, Healthpeak develops and leases laboratory and research space to biotechnology, pharmaceutical and other life science companies.

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