Smith Asset Management Co. LLC Makes New Investment in Healthpeak Properties, Inc. $DOC

Key Points

• Smith Asset Management Co. LLC invested approximately $558,000 in Healthpeak Properties, purchasing 27,583 shares as part of its new position during the first quarter.
• Analysts have recently cut their price targets for Healthpeak Properties, with Wells Fargo reducing its target from $20.00 to $18.00, indicating a cautious outlook on the stock.
• Healthpeak Properties declared a monthly dividend payout of $0.1017 per share, with a dividend yield of 6.7%, and a payout ratio currently at 508.33%.

Smith Asset Management Co. LLC bought a new position in Healthpeak Properties, Inc. (NYSE:DOC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 27,583 shares of the real estate investment trust's stock, valued at approximately $558,000.

Other large investors have also added to or reduced their stakes in the company. Brooklyn Investment Group boosted its stake in Healthpeak Properties by 198.9% in the 1st quarter. Brooklyn Investment Group now owns 1,312 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 873 shares during the period. TCTC Holdings LLC raised its holdings in shares of Healthpeak Properties by 124.3% in the 1st quarter. TCTC Holdings LLC now owns 1,355 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 751 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Healthpeak Properties in the 1st quarter valued at about $30,000. S.A. Mason LLC raised its holdings in shares of Healthpeak Properties by 160.9% in the 1st quarter. S.A. Mason LLC now owns 1,500 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 925 shares in the last quarter. Finally, Dagco Inc. purchased a new stake in shares of Healthpeak Properties in the 1st quarter valued at about $30,000. Institutional investors own 93.57% of the company's stock.

Healthpeak Properties Price Performance

Shares of NYSE DOC traded down $0.04 during trading hours on Friday, reaching $18.10. 4,343,202 shares of the stock traded hands, compared to its average volume of 6,111,745. The company has a market capitalization of $12.58 billion, a P/E ratio of 75.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.07. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.06. Healthpeak Properties, Inc. has a 52-week low of $16.63 and a 52-week high of $23.26. The company's 50-day simple moving average is $17.76 and its two-hundred day simple moving average is $18.18.

Healthpeak Properties (NYSE:DOC - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.46 earnings per share for the quarter, meeting analysts' consensus estimates of $0.46. The company had revenue of $694.35 million for the quarter, compared to analysts' expectations of $697.14 million. Healthpeak Properties had a return on equity of 1.85% and a net margin of 5.90%.Healthpeak Properties's revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm posted $0.45 EPS. Healthpeak Properties has set its FY 2025 guidance at 1.810-1.870 EPS. Equities research analysts forecast that Healthpeak Properties, Inc. will post 1.86 EPS for the current year.

Healthpeak Properties Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.1017 dividend. This represents a c) dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend was Monday, August 18th. Healthpeak Properties's payout ratio is 508.33%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DOC. Robert W. Baird set a $21.00 price target on Healthpeak Properties and gave the company an "outperform" rating in a report on Wednesday, July 30th. Wells Fargo & Company lowered their price target on Healthpeak Properties from $20.00 to $18.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Wall Street Zen cut Healthpeak Properties from a "hold" rating to a "sell" rating in a report on Monday, July 7th. Morgan Stanley lowered their price target on Healthpeak Properties from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Friday, August 22nd. Finally, Scotiabank cut Healthpeak Properties from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $21.00 to $19.00 in a report on Tuesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.50.

Insider Buying and Selling

In related news, CEO Scott M. Brinker purchased 2,930 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were acquired at an average cost of $17.06 per share, with a total value of $49,985.80. Following the purchase, the chief executive officer directly owned 210,416 shares of the company's stock, valued at approximately $3,589,696.96. This trade represents a 1.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders purchased 8,783 shares of company stock valued at $150,129. 0.23% of the stock is owned by insiders.

Healthpeak Properties Company Profile

Healthpeak Properties, Inc is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates, and develops high-quality real estate for healthcare discovery and delivery.