Zurcher Kantonalbank Zurich Cantonalbank Sells 17,428 Shares of Healthcare Realty Trust Incorporated (NYSE:HR)

Key Points

• Zurcher Kantonalbank has reduced its stake in Healthcare Realty Trust by 6.5%, selling 17,428 shares and retaining ownership of 248,812 shares worth approximately $4.2 million as of the end of Q1.
• Several institutional investors, including Starboard Value LP and Rush Island Management LP, have significantly increased their holdings in Healthcare Realty Trust, signaling increased confidence in the company.
• Healthcare Realty Trust recently reported earnings with a negative return on equity of 7.06% and announced a dividend cut despite a positive earnings per share beat against analysts' estimates.

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Healthcare Realty Trust Incorporated (NYSE:HR - Free Report) by 6.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 248,812 shares of the real estate investment trust's stock after selling 17,428 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Healthcare Realty Trust worth $4,205,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Starboard Value LP acquired a new position in Healthcare Realty Trust during the 4th quarter valued at about $342,110,000. Rush Island Management LP grew its stake in shares of Healthcare Realty Trust by 21.2% during the fourth quarter. Rush Island Management LP now owns 15,681,440 shares of the real estate investment trust's stock worth $265,800,000 after acquiring an additional 2,747,848 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Healthcare Realty Trust during the first quarter valued at about $100,817,000. Norges Bank purchased a new position in shares of Healthcare Realty Trust in the 4th quarter valued at approximately $76,825,000. Finally, Northern Trust Corp boosted its stake in Healthcare Realty Trust by 40.3% in the 4th quarter. Northern Trust Corp now owns 4,040,969 shares of the real estate investment trust's stock worth $68,494,000 after purchasing an additional 1,159,763 shares in the last quarter.

Insider Buying and Selling

In other news, Director Thomas N. Bohjalian acquired 2,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average price of $14.71 per share, with a total value of $36,775.00. Following the purchase, the director directly owned 56,502 shares of the company's stock, valued at $831,144.42. This trade represents a 4.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HR. JPMorgan Chase & Co. cut their price target on shares of Healthcare Realty Trust from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Thursday, June 26th. Wedbush cut their target price on Healthcare Realty Trust from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Wall Street Zen cut Healthcare Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Finally, Wells Fargo & Company dropped their price target on Healthcare Realty Trust from $16.00 to $15.00 and set an "underweight" rating on the stock in a research note on Monday, June 2nd. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $16.40.

Healthcare Realty Trust Price Performance

Shares of Healthcare Realty Trust stock opened at $15.36 on Friday. The stock has a market cap of $5.40 billion, a PE ratio of -14.09 and a beta of 0.89. The firm has a fifty day moving average price of $15.38 and a 200 day moving average price of $15.88. Healthcare Realty Trust Incorporated has a 1 year low of $14.09 and a 1 year high of $18.90.

Healthcare Realty Trust (NYSE:HR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. The business had revenue of $287.07 million during the quarter, compared to analyst estimates of $290.83 million. Healthcare Realty Trust had a negative return on equity of 7.06% and a negative net margin of 31.32%. During the same quarter last year, the business posted $0.38 EPS. As a group, equities analysts expect that Healthcare Realty Trust Incorporated will post 1.59 EPS for the current year.

Healthcare Realty Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 6.2%. Healthcare Realty Trust's dividend payout ratio is presently -113.76%.

About Healthcare Realty Trust

Healthcare Realty Trust, Inc provides real estate investment services. It owns, leases, manages, acquires, finances, develops, and redevelops income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States of America. The company was founded by David R.

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