Healthpeak Properties (NYSE:DOC) Shares Down 6.2% - Here's Why

Key Points

• Healthpeak Properties shares dropped 6.2% to $17.69 during trading, with volume down 71% compared to the average session.
• Wall Street analysts hold mixed views on the stock, with one brokerage downgrading it to a "sell", while others maintain "buy" ratings and predict a target price of around $23.27.
• The company announced a monthly dividend of $0.1017, providing an annualized yield of 6.93%, despite a high payout ratio of 305%.
• Insider transactions revealed CEO Scott M. Brinker and Director Tommy G. Thompson both bought shares, indicating potential confidence in the company’s future.

Healthpeak Properties, Inc. (NYSE:DOC - Get Free Report)'s share price was down 6.2% on Friday . The company traded as low as $17.52 and last traded at $17.69. Approximately 1,669,628 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 5,680,755 shares. The stock had previously closed at $18.87.

Analyst Ratings Changes

Several research firms recently weighed in on DOC. Argus restated a "buy" rating and set a $25.00 price target on shares of Healthpeak Properties in a research report on Tuesday, April 29th. Wells Fargo & Company reduced their price target on shares of Healthpeak Properties from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, June 2nd. Scotiabank downgraded shares of Healthpeak Properties from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the stock from $21.00 to $19.00 in a research report on Tuesday. Evercore ISI reduced their price target on shares of Healthpeak Properties from $23.00 to $21.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, Wall Street Zen downgraded shares of Healthpeak Properties from a "hold" rating to a "sell" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Healthpeak Properties currently has an average rating of "Moderate Buy" and an average price target of $23.09.

Healthpeak Properties Stock Performance

The company has a market cap of $12.08 billion, a PE ratio of 72.44, a PEG ratio of 2.02 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. The firm's 50 day moving average is $17.68 and its 200-day moving average is $18.81.

Healthpeak Properties (NYSE:DOC - Get Free Report) last posted 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. Healthpeak Properties had a net margin of 5.90% and a return on equity of 1.85%. The business had revenue of $694.35 million during the quarter, compared to analysts' expectations of $697.14 million. During the same quarter in the prior year, the company posted $0.45 EPS. The business's revenue for the quarter was down .2% on a year-over-year basis. On average, research analysts anticipate that Healthpeak Properties, Inc. will post 1.86 earnings per share for the current fiscal year.

Healthpeak Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be paid a $0.1017 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.22 annualized dividend and a dividend yield of 7.02%. Healthpeak Properties's dividend payout ratio (DPR) is 508.33%.

Insider Activity at Healthpeak Properties

In other news, Director Tommy G. Thompson purchased 5,777 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was acquired at an average price of $17.27 per share, with a total value of $99,768.79. Following the purchase, the director directly owned 144,290 shares in the company, valued at approximately $2,491,888.30. This represents a 4.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott M. Brinker purchased 2,873 shares of the company's stock in a transaction dated Monday, July 28th. The stock was purchased at an average cost of $17.40 per share, with a total value of $49,990.20. Following the purchase, the chief executive officer owned 207,486 shares in the company, valued at approximately $3,610,256.40. This trade represents a 1.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 17,100 shares of company stock valued at $296,533. Corporate insiders own 0.23% of the company's stock.

Institutional Trading of Healthpeak Properties

Hedge funds have recently made changes to their positions in the company. Machina Capital S.A.S. boosted its position in shares of Healthpeak Properties by 62.8% during the 1st quarter. Machina Capital S.A.S. now owns 37,160 shares of the real estate investment trust's stock worth $751,000 after purchasing an additional 14,336 shares during the period. Douglas Lane & Associates LLC boosted its position in shares of Healthpeak Properties by 8.5% during the 1st quarter. Douglas Lane & Associates LLC now owns 2,792,850 shares of the real estate investment trust's stock worth $56,471,000 after purchasing an additional 218,395 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Healthpeak Properties by 6.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 357,520 shares of the real estate investment trust's stock worth $7,229,000 after buying an additional 23,135 shares in the last quarter. Ibex Wealth Advisors acquired a new stake in Healthpeak Properties during the 1st quarter worth approximately $5,056,000. Finally, Vert Asset Management LLC lifted its holdings in Healthpeak Properties by 6.9% during the 1st quarter. Vert Asset Management LLC now owns 325,143 shares of the real estate investment trust's stock worth $6,574,000 after buying an additional 20,924 shares in the last quarter. Hedge funds and other 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.