Healthcare Realty Trust Incorporated (NYSE:HR) Announces Quarterly Dividend of $0.24

Key Points

• Healthcare Realty Trust declared a quarterly dividend of $0.24 per share, payable August 26 to shareholders of record on August 11. The dividend is equivalent to $0.96 annually and yields approximately 4.5%.
• The current payout is not covered by recent earnings, with a payout ratio of -309.7%, although analysts expect improved earnings next year that would reduce the projected payout ratio to 57.1%.
• Shares opened at $21.48, near their 52-week high, while Wall Street’s consensus rating remains “Hold” with an average price target of $21.67.

Healthcare Realty Trust Incorporated (NYSE:HR - Get Free Report) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Tuesday, August 11th will be paid a dividend of 0.24 per share by the real estate investment trust on Wednesday, August 26th. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 11th.

Healthcare Realty Trust has raised its dividend payment by an average of 0.0%per year over the last three years. Healthcare Realty Trust has a dividend payout ratio of -309.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Healthcare Realty Trust to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 57.1%.

Healthcare Realty Trust Price Performance

Healthcare Realty Trust stock opened at $21.48 on Friday. The business has a 50 day simple moving average of $20.54 and a 200 day simple moving average of $18.93. The company has a market capitalization of $7.44 billion, a PE ratio of -37.04 and a beta of 0.98. Healthcare Realty Trust has a one year low of $15.28 and a one year high of $22.04.

Healthcare Realty Trust (NYSE:HR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $275.28 million during the quarter, compared to the consensus estimate of $283.01 million. Healthcare Realty Trust had a negative net margin of 17.34% and a negative return on equity of 4.29%. The firm's quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. Equities analysts anticipate that Healthcare Realty Trust will post 1.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HR shares. UBS Group increased their price objective on shares of Healthcare Realty Trust from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Cantor Fitzgerald increased their target price on shares of Healthcare Realty Trust from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. Raymond James Financial assumed coverage on Healthcare Realty Trust in a report on Tuesday, June 16th. They set an "outperform" rating and a $24.00 target price on the stock. BTIG Research reiterated a "buy" rating and set a $22.00 price objective on shares of Healthcare Realty Trust in a report on Friday, June 12th. Finally, Wells Fargo & Company increased their price objective on shares of Healthcare Realty Trust from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $21.67.

Healthcare Realty Trust Company Profile

Healthcare Realty Trust NYSE: HR is a real estate investment trust specializing in the ownership, acquisition and management of outpatient medical facilities. Headquartered in Nashville, Tennessee, the company's portfolio is focused primarily on medical office buildings and outpatient healthcare properties that serve hospitals, health systems and other healthcare providers. Its business model centers on securing long-term, triple-net leases to generate stable income streams from a diversified tenant base.

The company's properties are located across key metropolitan markets in the United States, including major healthcare hubs in the Southeast, Southwest and in select coastal regions.

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