Pzena Investment Management LLC Purchases New Position in Healthcare Realty Trust Incorporated $HR

Key Points

• Pzena Investment Management opened a position in Healthcare Realty Trust, buying 2.23 million shares worth about $39.5 million, or roughly 0.65% of the REIT.
• Analyst sentiment was mixed: five analysts rated the stock Buy and seven Hold, with a consensus price target of $21.36 and an overall Hold rating.
• The REIT reported quarterly EPS of -$0.05, below the $0.41 consensus, while revenue of $286.6 million topped estimates. It declared a $0.24 quarterly dividend, equivalent to a 4.9% yield.

Pzena Investment Management LLC purchased a new stake in shares of Healthcare Realty Trust Incorporated (NYSE:HR - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,225,430 shares of the real estate investment trust's stock, valued at approximately $39,479,000. Pzena Investment Management LLC owned about 0.65% of Healthcare Realty Trust at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Resolution Capital Ltd raised its stake in Healthcare Realty Trust by 72.4% during the 1st quarter. Resolution Capital Ltd now owns 14,034,367 shares of the real estate investment trust's stock valued at $238,444,000 after acquiring an additional 5,892,501 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Healthcare Realty Trust by 20.0% in the first quarter. Sei Investments Co. now owns 3,942,866 shares of the real estate investment trust's stock valued at $66,989,000 after buying an additional 656,968 shares during the period. Bank of America Corp DE lifted its holdings in shares of Healthcare Realty Trust by 13.3% in the first quarter. Bank of America Corp DE now owns 2,208,965 shares of the real estate investment trust's stock valued at $37,530,000 after buying an additional 259,782 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Healthcare Realty Trust by 100.0% in the first quarter. Renaissance Technologies LLC now owns 1,549,172 shares of the real estate investment trust's stock valued at $26,320,000 after buying an additional 774,500 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Healthcare Realty Trust by 8.4% during the second quarter. Envestnet Asset Management Inc. now owns 1,190,084 shares of the real estate investment trust's stock valued at $24,004,000 after buying an additional 92,102 shares in the last quarter.

Insiders Place Their Bets

In other news, COO Robert Hull sold 21,000 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $19.11, for a total transaction of $401,310.00. Following the completion of the sale, the chief operating officer directly owned 276,338 shares of the company's stock, valued at $5,280,819.18. This trade represents a 7.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HR has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Healthcare Realty Trust in a report on Tuesday, September 15th. They set a "hold" rating and a $20.00 target price on the stock. Royal Bank Of Canada upped their price target on Healthcare Realty Trust from $21.00 to $22.00 and gave the company a "sector perform" rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft raised Healthcare Realty Trust from a "hold" rating to a "buy" rating and boosted their target price for the stock from $18.00 to $23.00 in a research report on Tuesday, October 20th. UBS Group reduced their target price on Healthcare Realty Trust from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. increased their price target on Healthcare Realty Trust from $19.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Healthcare Realty Trust currently has an average rating of "Hold" and a consensus target price of $21.36.

Healthcare Realty Trust Stock Up 1.6%

Shares of NYSE:HR opened at $19.49 on Thursday. The company's fifty day moving average is $18.17 and its two-hundred day moving average is $18.84. Healthcare Realty Trust Incorporated has a 12-month low of $16.31 and a 12-month high of $22.04. The company has a market cap of $6.68 billion, a P/E ratio of -139.19 and a beta of 0.92.

Healthcare Realty Trust (NYSE:HR - Get Free Report) last issued its earnings results on Thursday, October 29th. The real estate investment trust reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.41 by ($0.46). The business had revenue of $286.64 million during the quarter, compared to analyst estimates of $275.27 million. Healthcare Realty Trust had a negative return on equity of 1.02% and a negative net margin of 3.96%. The business's quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. Equities research analysts anticipate that Healthcare Realty Trust Incorporated will post 1.66 earnings per share for the current year.

Healthcare Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, November 10th. Healthcare Realty Trust's payout ratio is currently -685.71%.

Healthcare Realty Trust Company Profile

Healthcare Realty Trust Incorporated NYSE: HR is a real estate investment trust focused on owning, managing, acquiring and developing outpatient healthcare properties. Its portfolio primarily includes medical office buildings, ambulatory surgery centers, outpatient facilities and other properties used by healthcare providers.

The company leases space to health systems, physician groups and other healthcare organizations, with properties generally located on or near hospital campuses and in growing outpatient care settings.

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