Principal Financial Group Inc. Sells 7,916,128 Shares of Healthpeak Properties, Inc. $DOC

Key Points

• Principal Financial Group cut its stake in Healthpeak Properties by 29.7% in Q1, selling 7.9 million shares and leaving it with 18.8 million shares worth about $308.3 million.
• Analysts are mixed on Healthpeak Properties (NYSE:DOC): the stock has an average rating of “Hold” with an average target price of $20.50, though several firms recently raised their price targets.
• The REIT reported better-than-expected first-quarter results, with EPS of $0.45 versus $0.43 expected and revenue of $752.95 million, and it also announced a monthly dividend of $0.1017 per share.

Principal Financial Group Inc. lessened its position in Healthpeak Properties, Inc. (NYSE:DOC - Free Report) by 29.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,765,643 shares of the real estate investment trust's stock after selling 7,916,128 shares during the quarter. Principal Financial Group Inc. owned approximately 2.70% of Healthpeak Properties worth $308,320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Trust Co grew its stake in Healthpeak Properties by 4.9% in the third quarter. Fiduciary Trust Co now owns 13,807 shares of the real estate investment trust's stock worth $264,000 after purchasing an additional 644 shares during the period. Patton Fund Management Inc. raised its holdings in Healthpeak Properties by 5.2% in the fourth quarter. Patton Fund Management Inc. now owns 13,002 shares of the real estate investment trust's stock worth $209,000 after purchasing an additional 648 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Healthpeak Properties by 1.9% in the third quarter. Quadrant Capital Group LLC now owns 37,650 shares of the real estate investment trust's stock worth $721,000 after purchasing an additional 718 shares in the last quarter. Quantum Portfolio Management LLC lifted its position in Healthpeak Properties by 2.5% during the first quarter. Quantum Portfolio Management LLC now owns 29,372 shares of the real estate investment trust's stock valued at $483,000 after buying an additional 728 shares during the period. Finally, Intrua Financial LLC lifted its position in Healthpeak Properties by 1.1% during the first quarter. Intrua Financial LLC now owns 66,702 shares of the real estate investment trust's stock valued at $1,096,000 after buying an additional 744 shares during the period. Hedge funds and other institutional investors own 93.57% of the company's stock.

Analysts Set New Price Targets

DOC has been the topic of a number of recent research reports. Weiss Ratings raised shares of Healthpeak Properties from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 8th. Mizuho increased their price target on shares of Healthpeak Properties from $21.00 to $24.00 and gave the stock an "outperform" rating in a research note on Monday, July 6th. Robert W. Baird lifted their price target on shares of Healthpeak Properties from $19.00 to $21.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Barclays began coverage on shares of Healthpeak Properties in a research note on Tuesday, July 7th. They set an "equal weight" rating and a $23.00 price objective on the stock. Finally, UBS Group upped their price objective on shares of Healthpeak Properties from $19.00 to $21.50 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $20.50.

Insider Transactions at Healthpeak Properties

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 stock was sold at an average price of $19.45, for a total value of $213,736.05. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.23% of the company's stock.

Healthpeak Properties Stock Down 0.2%

NYSE:DOC opened at $21.70 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.96 and a current ratio of 2.96. The firm has a market cap of $14.96 billion, a P/E ratio of 67.80, a P/E/G ratio of 3.38 and a beta of 1.02. Healthpeak Properties, Inc. has a fifty-two week low of $15.70 and a fifty-two week high of $22.13. The firm has a 50-day simple moving average of $20.31 and a two-hundred day simple moving average of $18.12.

Healthpeak Properties (NYSE:DOC - Get Free Report) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Healthpeak Properties had a net margin of 7.73% and a return on equity of 2.61%. The firm had revenue of $752.95 million for the quarter, compared to the consensus estimate of $694.59 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The business's revenue was up 7.1% on a year-over-year basis. Healthpeak Properties has set its FY 2026 guidance at 1.710-1.750 EPS. Analysts predict that Healthpeak Properties, Inc. will post 1.75 earnings per share for the current fiscal year.

Healthpeak Properties Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 25th. Investors of record on Monday, September 14th will be issued a $0.1017 dividend. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Monday, September 14th. Healthpeak Properties's payout ratio is presently 381.25%.

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.

Want to see what other hedge funds are holding DOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Healthpeak Properties, Inc. (NYSE:DOC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.