M&T Bank Corp Grows Stake in Healthpeak Properties, Inc. $DOC

Key Points

• M&T Bank Corp raised its stake in Healthpeak Properties by 46.2% in Q4 to 1,348,641 shares (about 0.19% of the company) worth $21.7M, while other institutions like State Street and JPMorgan also materially increased positions, leaving 93.57% of the stock held by institutional investors.
• Healthpeak slightly beat Q4 estimates with $0.47 EPS (vs. $0.45) and $719.4M revenue, and announced a monthly dividend of $0.1017 (annualized yield ~7.5%), though its payout ratio is extremely high at 1,220%.
• The stock trades near $16.30 (52-week range $15.70–$19.68) with a $11.3B market cap; analysts' consensus is Hold with an average price target of $18.04 after several recent target cuts and mixed ratings.

M&T Bank Corp increased its stake in shares of Healthpeak Properties, Inc. (NYSE:DOC - Free Report) by 46.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,348,641 shares of the real estate investment trust's stock after purchasing an additional 426,140 shares during the period. M&T Bank Corp owned 0.19% of Healthpeak Properties worth $21,687,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Healthpeak Properties by 1.8% in the third quarter. State Street Corp now owns 49,498,109 shares of the real estate investment trust's stock valued at $947,889,000 after acquiring an additional 895,460 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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 worth $540,730,000 after acquiring an additional 8,212,504 shares during the last quarter. Cullen Capital Management LLC increased its position in shares of Healthpeak Properties by 6.7% during the third quarter. Cullen Capital Management LLC now owns 10,232,875 shares of the real estate investment trust's stock worth $195,960,000 after purchasing an additional 641,771 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Healthpeak Properties by 4.1% in the 3rd 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 last quarter. Finally, Bank of America Corp DE raised its stake in Healthpeak Properties by 28.5% in the 3rd 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 last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DOC. Robert W. Baird lowered their target price on shares of Healthpeak Properties from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Monday, April 6th. Wall Street Zen cut shares of Healthpeak Properties from a "hold" rating to a "sell" rating in a research report on Saturday. Evercore decreased their price target on shares of Healthpeak Properties from $21.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 4th. Cantor Fitzgerald set a $17.00 price target on shares of Healthpeak Properties in a research report on Monday, January 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Healthpeak Properties in a research note on Friday, January 9th. They set a "neutral" rating and a $17.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $18.04.

Healthpeak Properties Stock Down 0.8%

Shares of DOC opened at $16.30 on Tuesday. Healthpeak Properties, Inc. has a 52-week low of $15.70 and a 52-week high of $19.68. The company has a market capitalization of $11.33 billion, a PE ratio of 162.97, a price-to-earnings-growth ratio of 2.27 and a beta of 1.00. The stock has a fifty day simple moving average of $16.94 and a two-hundred day simple moving average of $17.15. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 1.21.

Healthpeak Properties (NYSE:DOC - Get Free Report) last announced its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. Healthpeak Properties had a net margin of 2.52% and a return on equity of 0.84%. The firm had revenue of $719.40 million for the quarter, compared to analysts' expectations of $685.14 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company's revenue was up 3.1% compared to the same quarter last year. As a group, equities analysts forecast that Healthpeak Properties, Inc. will post 1.74 EPS for the current year.

Healthpeak Properties Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.1017 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 7.5%. Healthpeak Properties's payout ratio is 1,220.00%.

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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