Healthpeak Properties, Inc. Plans Quarterly Dividend of $0.30 (NYSE:DOC)

Healthpeak Properties, Inc. (NYSE:DOC) announced a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Shareholders of record on Monday, November 4th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, November 15th. This represents a $1.20 annualized dividend and a yield of 5.46%. The ex-dividend date is Monday, November 4th.

Healthpeak Properties has increased its dividend payment by an average of 36.5% per year over the last three years. Healthpeak Properties has a payout ratio of 545.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Healthpeak Properties to earn $1.86 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 64.5%.

Healthpeak Properties Price Performance

Shares of NYSE DOC opened at $21.98 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.70 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $15.37 billion, a price-to-earnings ratio of 46.77, a price-to-earnings-growth ratio of 2.50 and a beta of 1.13. Healthpeak Properties has a twelve month low of $15.44 and a twelve month high of $23.26. The business has a 50 day simple moving average of $22.30 and a 200-day simple moving average of $20.81.

Healthpeak Properties (NYSE:DOC) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.32). The firm had revenue of $700.40 million for the quarter, compared to the consensus estimate of $682.51 million. Healthpeak Properties had a net margin of 12.10% and a return on equity of 3.53%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share. As a group, equities research analysts expect that Healthpeak Properties will post 1.8 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on DOC. Scotiabank raised their price objective on shares of Healthpeak Properties from $23.00 to $24.00 and gave the company a “sector outperform” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Healthpeak Properties from a “hold” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $28.00 in a research report on Monday, October 21st. Citigroup raised their price objective on Healthpeak Properties from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Wedbush boosted their target price on Healthpeak Properties from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada increased their price target on Healthpeak Properties from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.79.

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.