State Street Corp Buys 44,767,085 Shares of Healthpeak Properties, Inc. $DOC

Key Points

• State Street increased its Healthpeak Properties stake by 92.3%, purchasing 44.8 million additional shares to own approximately 13.53% of the REIT, valued at nearly $2.0 billion. Institutional investors collectively hold 93.57% of the company.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $22.10; several firms recently raised their targets to $21–$22 while maintaining neutral or market-perform ratings.
• Healthpeak reported quarterly revenue of $771.6 million and adjusted earnings of $0.08 per share, exceeding estimates, while revenue rose 11.1% year over year. The company also declared a monthly dividend of $0.1017 per share, implying an annualized yield of about 5.9%.

State Street Corp lifted its position in Healthpeak Properties, Inc. (NYSE:DOC - Free Report) by 92.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,267,685 shares of the real estate investment trust's stock after buying an additional 44,767,085 shares during the quarter. State Street Corp owned approximately 13.53% of Healthpeak Properties worth $1,995,928,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. OneDigital Investment Advisors LLC lifted its stake in Healthpeak Properties by 3.3% in the 2nd quarter. OneDigital Investment Advisors LLC now owns 15,376 shares of the real estate investment trust's stock worth $329,000 after purchasing an additional 493 shares in the last quarter. Clearstead Trust LLC increased its holdings in shares of Healthpeak Properties by 66.7% in the second quarter. Clearstead Trust LLC now owns 1,357 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 543 shares during the period. CX Institutional raised its position in shares of Healthpeak Properties by 6.1% in the second quarter. CX Institutional now owns 11,003 shares of the real estate investment trust's stock worth $235,000 after buying an additional 633 shares in the last quarter. Quantum Portfolio Management LLC raised its position in shares of Healthpeak Properties by 2.5% in the first quarter. Quantum Portfolio Management LLC now owns 29,372 shares of the real estate investment trust's stock worth $483,000 after buying an additional 728 shares in the last quarter. Finally, Intrua Financial LLC grew 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 worth $1,096,000 after buying an additional 744 shares in the last quarter. 93.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DOC has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Healthpeak Properties from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Wednesday, June 24th. Morgan Stanley restated an "equal weight" rating and issued a $22.00 price objective (up from $20.00) on shares of Healthpeak Properties in a research report on Thursday, June 11th. Raymond James Financial initiated coverage on shares of Healthpeak Properties in a research report on Wednesday, June 17th. They set a "market perform" rating for the company. Scotiabank boosted their price target on shares of Healthpeak Properties from $19.00 to $21.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings cut shares of Healthpeak Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, September 16th. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $22.10.

Healthpeak Properties Price Performance

DOC stock opened at $20.58 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.02 and a current ratio of 3.02. Healthpeak Properties, Inc. has a 52 week low of $15.70 and a 52 week high of $22.95. The firm's fifty day moving average is $21.24 and its 200 day moving average is $19.60. The firm has a market cap of $14.19 billion, a P/E ratio of 58.81, a P/E/G ratio of 2.55 and a beta of 1.01.

Healthpeak Properties (NYSE:DOC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. The business had revenue of $771.58 million during the quarter, compared to the consensus estimate of $725.64 million. Healthpeak Properties had a net margin of 8.24% and a return on equity of 2.79%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. Healthpeak Properties has set its FY 2026 guidance at 1.730-1.770 EPS. Research analysts predict that Healthpeak Properties, Inc. will post 1.77 earnings per share for the current year.

Healthpeak Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 25th. Stockholders of record on Monday, September 14th will be paid a dividend of $0.1017 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Monday, September 14th. Healthpeak Properties's dividend payout ratio is 348.57%.

About Healthpeak Properties

Healthpeak Properties, Inc NYSE: DOC is a real estate investment trust that owns, develops, leases and manages healthcare-related properties in the United States. The company focuses primarily on outpatient medical buildings, which are leased to healthcare providers, physician groups and other medical users.

Healthpeak's portfolio also includes life science and senior housing properties, although its business has increasingly centered on outpatient medical real estate. Its properties are generally located in established healthcare markets and are designed to support services such as physician offices, specialty care, diagnostics and ambulatory treatment.

The company was formerly known as HCP, Inc and adopted the Healthpeak Properties name in 2019.

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