Vestcor Inc Sells 44,584 Shares of Healthpeak Properties, Inc. (NYSE:DOC)

Key Points

• Vestcor Inc reduced its stake in Healthpeak Properties by 23.8%, selling 44,584 shares, and now holds 142,915 shares valued at approximately $2,890,000.
• The company declared a monthly dividend of $0.1017 per share, resulting in a **7.09% yield**, with shareholders of record receiving payment on September 30th.
• Healthpeak Properties has seen a mix of activity from analysts, with one downgrade to "sell" and price targets ranging from $20.00 to $25.00, but maintains an average rating of "Moderate Buy."

Vestcor Inc reduced its holdings in shares of Healthpeak Properties, Inc. (NYSE:DOC - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 142,915 shares of the real estate investment trust's stock after selling 44,584 shares during the period. Vestcor Inc's holdings in Healthpeak Properties were worth $2,890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC raised its stake in shares of Healthpeak Properties by 124.3% in the first quarter. TCTC Holdings LLC now owns 1,355 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 751 shares during the last quarter. Mizuho Bank Ltd. acquired a new position in shares of Healthpeak Properties in the fourth quarter valued at approximately $28,000. Future Financial Wealth Managment LLC acquired a new position in shares of Healthpeak Properties in the first quarter valued at approximately $30,000. S.A. Mason LLC grew its position in Healthpeak Properties by 160.9% in the first quarter. S.A. Mason LLC now owns 1,500 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 925 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Healthpeak Properties by 173.8% during the fourth quarter. Covestor Ltd now owns 1,815 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 1,152 shares in the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Healthpeak Properties Stock Down 1.1%

DOC stock traded down $0.19 during trading on Friday, reaching $16.75. 12,918,133 shares of the stock were exchanged, compared to its average volume of 6,992,564. The firm has a market cap of $11.64 billion, a P/E ratio of 69.79, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The firm's 50 day moving average is $17.68 and its 200 day moving average is $18.75. The company has a current ratio of 1.28, a quick ratio of 1.35 and a debt-to-equity ratio of 1.06. Healthpeak Properties, Inc. has a twelve month low of $16.64 and a twelve month high of $23.26.

Healthpeak Properties (NYSE:DOC - Get Free Report) last posted its earnings results on Thursday, July 24th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Healthpeak Properties had a net margin of 5.90% and a return on equity of 1.85%. The firm had revenue of $694.35 million during the quarter, compared to analyst estimates of $697.14 million. During the same quarter in the prior year, the business posted $0.45 EPS. The business's revenue was down .2% compared to the same quarter last year. As a group, 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 will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be issued a $0.1017 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, September 19th. Healthpeak Properties's payout ratio is 508.33%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DOC. Evercore ISI dropped their target price on shares of Healthpeak Properties from $23.00 to $21.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Robert W. Baird set a $21.00 price target on shares of Healthpeak Properties and gave the stock an "outperform" rating in a research report on Wednesday. Argus reissued a "buy" rating and issued a $25.00 target price on shares of Healthpeak Properties in a report on Tuesday, April 29th. Wall Street Zen downgraded shares of Healthpeak Properties from a "hold" rating to a "sell" rating in a research note on Monday, July 7th. Finally, Wedbush cut their target price on shares of Healthpeak Properties from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.00.

Insider Transactions at Healthpeak Properties

In other news, Director Tommy G. Thompson bought 5,777 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were acquired at an average price of $17.27 per share, with a total value of $99,768.79. Following the acquisition, the director owned 144,290 shares of the company's stock, valued at approximately $2,491,888.30. The trade was a 4.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott M. Brinker bought 2,930 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of $17.06 per share, for a total transaction of $49,985.80. Following the acquisition, the chief executive officer directly owned 210,416 shares in the company, valued at $3,589,696.96. This trade represents a 1.41% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 20,030 shares of company stock worth $346,519 over the last three months. 0.23% of the stock is owned by insiders.

Healthpeak Properties 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.