Healthpeak Properties (NYSE:DOC) Price Target Cut to $23.00 by Analysts at Scotiabank

Healthpeak Properties (NYSE:DOC) had its target price reduced by Scotiabank from $24.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. Scotiabank currently has a sector outperform rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on DOC. Mizuho decreased their target price on Healthpeak Properties from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Robert W. Baird cut their price target on Healthpeak Properties from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada raised their price target on Healthpeak Properties from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company cut their price target on Healthpeak Properties from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 10th. Finally, Morgan Stanley upgraded Healthpeak Properties from an “equal weight” rating to an “overweight” rating and set a $25.00 price target on the stock in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.92.

Healthpeak Properties Trading Up 1.3 %

NYSE:DOC opened at $20.44 on Friday. The firm has a market cap of $14.30 billion, a PE ratio of 58.39, a price-to-earnings-growth ratio of 2.17 and a beta of 1.15. The stock has a fifty day moving average price of $20.18 and a 200 day moving average price of $21.36. Healthpeak Properties has a 12-month low of $16.49 and a 12-month high of $23.26. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.96.

Healthpeak Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Friday, February 14th were given a dividend of $0.305 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 5.97%. This is a boost from Healthpeak Properties’s previous quarterly dividend of $0.30. Healthpeak Properties’s payout ratio is 348.57%.

Institutional Trading of Healthpeak Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. HM Payson & Co. acquired a new stake in shares of Healthpeak Properties during the third quarter worth about $25,000. Mizuho Bank Ltd. purchased a new position in shares of Healthpeak Properties during the fourth quarter worth about $28,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Healthpeak Properties during the fourth quarter worth about $30,000. Avior Wealth Management LLC purchased a new position in shares of Healthpeak Properties during the third quarter worth about $37,000. Finally, Covestor Ltd grew its holdings in shares of Healthpeak Properties by 173.8% during the fourth quarter. Covestor Ltd now owns 1,815 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 1,152 shares during the last quarter. Institutional investors and hedge funds 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.