Scotiabank Downgrades Healthpeak Properties (NYSE:DOC) to Sector Perform

Key Points

• Healthpeak Properties was downgraded by Scotiabank from a "sector outperform" to a "sector perform" rating, with a price target of $19.00, indicating a potential upside of 9.89% from the current stock price.
• Multiple analysts have adjusted their price targets for Healthpeak Properties, with estimates ranging from $20.00 to $25.00, reflecting varied outlooks on the stock's performance.
• Insider trading activity includes CEO Scott M. Brinker purchasing 2,750 shares at an average cost of $17.39 per share, demonstrating confidence in the company's prospects.

Healthpeak Properties (NYSE:DOC - Get Free Report) was downgraded by investment analysts at Scotiabank from a "sector outperform" rating to a "sector perform" rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a $19.00 price target on the real estate investment trust's stock, down from their previous price target of $21.00. Scotiabank's price objective points to a potential upside of 13.43% from the stock's current price.

Several other equities research analysts have also issued reports on the company. Argus reissued a "buy" rating and set a $25.00 price objective on shares of Healthpeak Properties in a research note on Tuesday, April 29th. Wall Street Zen lowered Healthpeak Properties from a "hold" rating to a "sell" rating in a research note on Monday, July 7th. Wedbush dropped their price target on Healthpeak Properties from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company dropped their price target on Healthpeak Properties from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Monday, June 2nd. Finally, Robert W. Baird dropped their price target on Healthpeak Properties from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

Healthpeak Properties Stock Performance

NYSE DOC traded down $0.19 on Tuesday, hitting $16.75. 12,918,133 shares of the stock traded hands, compared to its average volume of 5,997,572. The business's fifty day moving average is $17.69 and its two-hundred day moving average is $18.77. Healthpeak Properties has a 12 month low of $16.64 and a 12 month high of $23.26. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 69.79, a PEG ratio of 2.20 and a beta of 1.03. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.35 and a current ratio of 1.28.

Healthpeak Properties (NYSE:DOC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $694.35 million during the quarter, compared to analysts' expectations of $697.14 million. Healthpeak Properties had a return on equity of 1.85% and a net margin of 5.90%. The firm's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, equities analysts anticipate that Healthpeak Properties will post 1.86 EPS for the current fiscal year.

Insider Transactions at Healthpeak Properties

In other Healthpeak Properties news, Director Tommy G. Thompson purchased 5,777 shares of Healthpeak Properties stock in a transaction that occurred on Wednesday, May 28th. The shares were bought at an average price of $17.27 per share, for a total transaction of $99,768.79. Following the acquisition, the director directly owned 144,290 shares in the company, valued at approximately $2,491,888.30. This trade represents a 4.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott M. Brinker purchased 2,930 shares of Healthpeak Properties stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $17.06 per share, for a total transaction of $49,985.80. Following the acquisition, the chief executive officer owned 210,416 shares in the company, valued at $3,589,696.96. This trade represents a 1.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 20,030 shares of company stock worth $346,519. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its holdings in Healthpeak Properties by 20.7% in the first quarter. Invesco Ltd. now owns 23,111,320 shares of the real estate investment trust's stock worth $467,311,000 after purchasing an additional 3,967,830 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Healthpeak Properties by 6.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 18,397,841 shares of the real estate investment trust's stock worth $372,004,000 after purchasing an additional 1,129,924 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Healthpeak Properties by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 18,355,772 shares of the real estate investment trust's stock worth $371,168,000 after purchasing an additional 638,012 shares in the last quarter. Centersquare Investment Management LLC raised its position in shares of Healthpeak Properties by 18.5% in the 1st quarter. Centersquare Investment Management LLC now owns 13,285,932 shares of the real estate investment trust's stock worth $268,642,000 after purchasing an additional 2,070,416 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Healthpeak Properties by 32.6% in the 4th quarter. Northern Trust Corp now owns 10,526,223 shares of the real estate investment trust's stock worth $213,367,000 after purchasing an additional 2,590,530 shares during the last quarter. Institutional investors own 93.57% of the company's stock.

About Healthpeak Properties

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.