Healthpeak Properties, Inc. $DOC Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Healthpeak Properties stake by 27.5% in the first quarter, acquiring 2.56 million additional shares to own 11.89 million shares valued at approximately $195.3 million, or 1.72% of the REIT.
• Healthpeak reported quarterly EPS of $0.45, beating estimates by $0.02, while revenue rose 7.1% year over year to $752.95 million. The company also declared a monthly dividend of $0.1017 per share, representing a 5.7% annualized yield.
• Analysts maintain a consensus “Hold” rating, with an average price target of $20.62, below the stock’s reported $21.59 opening price. Institutional investors and hedge funds collectively own 93.57% of the company.

Bank of America Corp DE lifted its stake in shares of Healthpeak Properties, Inc. (NYSE:DOC - Free Report) by 27.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,887,795 shares of the real estate investment trust's stock after acquiring an additional 2,563,407 shares during the quarter. Bank of America Corp DE owned 1.72% of Healthpeak Properties worth $195,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. WPG Advisers LLC increased its holdings in Healthpeak Properties by 270.2% during the 4th quarter. WPG Advisers LLC now owns 1,640 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 1,197 shares during the period. Advocate Investing Services LLC purchased a new position in shares of Healthpeak Properties in the 4th quarter valued at about $26,000. Elyxium Wealth LLC purchased a new position in shares of Healthpeak Properties in the 4th quarter valued at about $31,000. Clearstead Advisors LLC grew its position in shares of Healthpeak Properties by 166.3% during the fourth quarter. Clearstead Advisors LLC now owns 1,947 shares of the real estate investment trust's stock worth $31,000 after buying an additional 1,216 shares in the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Healthpeak Properties during the second quarter worth about $33,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Healthpeak Properties Stock Down 0.2%

Shares of NYSE DOC opened at $21.59 on Wednesday. The business has a 50-day moving average price of $21.08 and a 200 day moving average price of $18.73. The stock has a market cap of $14.89 billion, a PE ratio of 67.48, a price-to-earnings-growth ratio of 3.36 and a beta of 1.01. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 1.15. 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 released its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $752.95 million for the quarter, compared to analyst estimates of $694.59 million. Healthpeak Properties had a return on equity of 2.61% and a net margin of 7.73%.The firm's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 earnings per share. Equities research analysts forecast that Healthpeak Properties, Inc. will post 1.75 earnings per share for the current year.

Healthpeak Properties Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 25th. Shareholders of record on Monday, September 14th will be paid a $0.1017 dividend. The ex-dividend date is Monday, September 14th. This represents a c) dividend on an annualized basis and a yield of 5.7%. Healthpeak Properties's payout ratio is currently 381.25%.

Insider Buying and Selling

In other news, insider Scott R. Bohn sold 10,989 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $19.45, for a total value of $213,736.05. Following the completion of the sale, the insider directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Mizuho increased their price objective on shares of Healthpeak Properties from $21.00 to $24.00 and gave the company an "outperform" rating in a research report on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on shares of Healthpeak Properties from $18.00 to $21.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Scotiabank boosted their target price on shares of Healthpeak Properties from $19.00 to $21.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 27th. Wells Fargo & Company increased their target price on Healthpeak Properties from $20.00 to $22.00 and gave the company an "equal weight" rating in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada raised their price target on Healthpeak Properties from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. Four equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, Healthpeak Properties presently has a consensus rating of "Hold" and an average price target of $20.62.

Healthpeak Properties Company Profile

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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