Mackenzie Financial Corp Acquires 96,736 Shares of Healthcare Realty Trust Incorporated (NYSE:HR)

Key Points

• Mackenzie Financial Corp significantly increased its stake in Healthcare Realty Trust by 169.8%, acquiring an additional 96,736 shares during the first quarter, bringing its total holdings to 153,723 shares valued at approximately $2.6 million.
• Several large investors have also increased their stakes, with LPL Financial LLC and Orion Portfolio Solutions LLC among them, indicating growing institutional interest in the company.
• Healthcare Realty Trust recently announced a quarterly dividend of $0.24, while facing analyst rating downgrades, with targets decreasing from $18.00 to $16.00 across multiple reports.

Mackenzie Financial Corp boosted its stake in Healthcare Realty Trust Incorporated (NYSE:HR - Free Report) by 169.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,723 shares of the real estate investment trust's stock after acquiring an additional 96,736 shares during the period. Mackenzie Financial Corp's holdings in Healthcare Realty Trust were worth $2,598,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. purchased a new position in Healthcare Realty Trust during the 1st quarter worth approximately $228,000. Golden State Wealth Management LLC acquired a new position in Healthcare Realty Trust in the first quarter valued at about $26,000. Oppenheimer Asset Management Inc. increased its stake in shares of Healthcare Realty Trust by 31.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 60,301 shares of the real estate investment trust's stock worth $1,019,000 after buying an additional 14,400 shares during the period. Sequoia Financial Advisors LLC increased its stake in Healthcare Realty Trust by 8.6% in the first quarter. Sequoia Financial Advisors LLC now owns 14,803 shares of the real estate investment trust's stock valued at $250,000 after purchasing an additional 1,171 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Healthcare Realty Trust during the first quarter worth approximately $618,000.

Insider Activity

In related news, Director Thomas N. Bohjalian purchased 2,500 shares of the stock in a transaction dated Tuesday, May 13th. The stock was bought at an average cost of $14.71 per share, with a total value of $36,775.00. Following the purchase, the director directly owned 56,502 shares in the company, valued at $831,144.42. The trade was a 4.63% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HR shares. Wall Street Zen lowered Healthcare Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Wells Fargo & Company decreased their price objective on Healthcare Realty Trust from $16.00 to $15.00 and set an "underweight" rating on the stock in a report on Monday, June 2nd. JPMorgan Chase & Co. cut their price objective on Healthcare Realty Trust from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday, June 26th. Finally, Wedbush decreased their target price on Healthcare Realty Trust from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, Healthcare Realty Trust has a consensus rating of "Hold" and a consensus target price of $16.40.

Healthcare Realty Trust Price Performance

HR stock traded down $0.14 during midday trading on Wednesday, reaching $16.82. 1,573,602 shares of the company's stock traded hands, compared to its average volume of 3,101,704. The company has a market capitalization of $5.91 billion, a P/E ratio of -14.62 and a beta of 0.89. Healthcare Realty Trust Incorporated has a fifty-two week low of $14.09 and a fifty-two week high of $18.90. The business has a 50-day moving average price of $15.53 and a two-hundred day moving average price of $15.89.

Healthcare Realty Trust (NYSE:HR - Get Free Report) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. Healthcare Realty Trust had a negative net margin of 32.95% and a negative return on equity of 7.70%. The firm had revenue of $287.07 million during the quarter, compared to analyst estimates of $290.83 million. During the same quarter in the prior year, the firm posted $0.38 EPS. As a group, research analysts forecast that Healthcare Realty Trust Incorporated will post 1.59 earnings per share for the current fiscal year.

Healthcare Realty Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.7%. Healthcare Realty Trust's dividend payout ratio is -107.83%.

Healthcare Realty Trust Profile

Healthcare Realty Trust, Inc provides real estate investment services. It owns, leases, manages, acquires, finances, develops, and redevelops income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States of America. The company was founded by David R.