Wells Fargo & Company Cuts Healthpeak Properties (NYSE:DOC) Price Target to $18.00

Key Points

• Wells Fargo & Company has reduced the price target for Healthpeak Properties from $20.00 to $18.00, indicating a potential upside of 1.91% from its current price.
• Despite the downgrade from Wells Fargo, a majority of analysts still hold a consensus rating of "Moderate Buy" for Healthpeak Properties, with a target price averaging $21.50.
• Healthpeak Properties reported $0.46 EPS for the last quarter, aligning with analysts' expectations, but revenue slightly missed projections, totaling $694.35 million.

Healthpeak Properties (NYSE:DOC - Get Free Report) had its price target reduced by research analysts at Wells Fargo & Company from $20.00 to $18.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target would indicate a potential upside of 1.91% from the stock's current price.

A number of other brokerages have also recently commented on DOC. Argus reaffirmed a "buy" rating and issued a $25.00 target price on shares of Healthpeak Properties in a report on Tuesday, April 29th. Wall Street Zen downgraded Healthpeak Properties from a "hold" rating to a "sell" rating in a research note on Monday, July 7th. Scotiabank downgraded Healthpeak Properties from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $21.00 to $19.00 in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $18.00 target price (down previously from $28.00) on shares of Healthpeak Properties in a research note on Wednesday, August 20th. Finally, Robert W. Baird set a $21.00 target price on Healthpeak Properties and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $21.50.

Healthpeak Properties Stock Performance

Healthpeak Properties stock traded up $0.13 during trading on Wednesday, reaching $17.66. The company had a trading volume of 400,655 shares, compared to its average volume of 6,072,586. Healthpeak Properties has a 52 week low of $16.63 and a 52 week high of $23.26. The firm's 50-day simple moving average is $17.64 and its 200 day simple moving average is $18.34. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 73.73, a price-to-earnings-growth ratio of 2.26 and a beta of 1.05. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.06.

Healthpeak Properties (NYSE:DOC - Get Free Report) last announced its earnings results on Thursday, July 24th. The real estate investment trust reported $0.46 EPS for the quarter, hitting analysts' consensus estimates of $0.46. Healthpeak Properties had a return on equity of 1.85% and a net margin of 5.90%.The company had revenue of $694.35 million for the quarter, compared to analysts' expectations of $697.14 million. During the same period last year, the firm earned $0.45 EPS. Healthpeak Properties's revenue for the quarter was down .2% compared to the same quarter last year. Healthpeak Properties has set its FY 2025 guidance at 1.810-1.870 EPS. Sell-side analysts forecast that Healthpeak Properties will post 1.86 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Scott M. Brinker bought 1,490 shares of Healthpeak Properties stock in a transaction dated Monday, August 4th. The shares were purchased at an average cost of $16.83 per share, with a total value of $25,076.70. Following the completion of the acquisition, the chief executive officer owned 211,906 shares of the company's stock, valued at $3,566,377.98. This trade represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 8,783 shares of company stock valued at $150,129 over the last quarter. Insiders own 0.23% of the company's stock.

Institutional Investors Weigh In On Healthpeak Properties

Several large investors have recently made changes to their positions in the company. Squarepoint Ops LLC increased its holdings in shares of Healthpeak Properties by 243.3% in the second quarter. Squarepoint Ops LLC now owns 450,201 shares of the real estate investment trust's stock worth $7,883,000 after purchasing an additional 319,074 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Healthpeak Properties by 53.7% in the second quarter. Thrivent Financial for Lutherans now owns 147,648 shares of the real estate investment trust's stock worth $2,585,000 after purchasing an additional 51,584 shares during the last quarter. Cim Investment Management Inc. increased its holdings in shares of Healthpeak Properties by 100.7% in the second quarter. Cim Investment Management Inc. now owns 20,707 shares of the real estate investment trust's stock worth $392,000 after purchasing an additional 10,392 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Healthpeak Properties by 12.2% in the second quarter. Pathway Financial Advisers LLC now owns 28,496 shares of the real estate investment trust's stock worth $499,000 after acquiring an additional 3,094 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Healthpeak Properties in the second quarter worth about $218,000. 93.57% of the stock is owned by institutional investors.

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.

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