Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Position in 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 decreased its holdings in shares of Healthcare Realty Trust Incorporated (NYSE:HR - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 248,812 shares of the real estate investment trust's stock after selling 17,428 shares during the quarter. 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 recently bought and sold shares of the company. Journey Strategic Wealth LLC boosted its holdings in Healthcare Realty Trust by 8.1% in the first quarter. Journey Strategic Wealth LLC now owns 25,761 shares of the real estate investment trust's stock valued at $435,000 after acquiring an additional 1,924 shares during the last quarter. Triumph Capital Management boosted its holdings in shares of Healthcare Realty Trust by 10.0% during the 1st quarter. Triumph Capital Management now owns 18,949 shares of the real estate investment trust's stock worth $320,000 after buying an additional 1,719 shares in the last quarter. Oak Thistle LLC boosted its holdings in shares of Healthcare Realty Trust by 186.3% during the 1st quarter. Oak Thistle LLC now owns 65,450 shares of the real estate investment trust's stock worth $1,106,000 after buying an additional 42,589 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Healthcare Realty Trust during the 1st quarter worth approximately $22,285,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Healthcare Realty Trust during the 1st quarter worth approximately $325,000.

Healthcare Realty Trust Trading Down 0.1%

Shares of NYSE HR traded down $0.03 during midday trading on Tuesday, hitting $16.95. 1,196,556 shares of the company's stock were exchanged, compared to its average volume of 3,093,889. Healthcare Realty Trust Incorporated has a 12-month low of $14.09 and a 12-month high of $18.90. The company has a market cap of $5.95 billion, a price-to-earnings ratio of -14.73 and a beta of 0.89. The business's fifty day moving average price is $15.48 and its two-hundred day moving average price is $15.88.

Healthcare Realty Trust (NYSE:HR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. The company 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 7.70% and a negative net margin of 32.95%. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Equities analysts expect that Healthcare Realty Trust Incorporated will post 1.59 earnings per share for the current fiscal 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 5.7%. Healthcare Realty Trust's payout ratio is currently -107.83%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Thomas N. Bohjalian acquired 2,500 shares of the stock in a transaction on Tuesday, May 13th. The stock was purchased at an average price of $14.71 per share, for a total transaction of $36,775.00. Following the completion of the transaction, the director owned 56,502 shares of the company's stock, valued at $831,144.42. This trade represents a 4.63% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company's stock.

Healthcare Realty Trust Profile

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.