Healthpeak Properties, Inc. to Issue Monthly Dividend of $0.10 (NYSE:DOC)

Healthpeak Properties, Inc. (NYSE:DOC) announced a monthly dividend on Wednesday, April 9th, Wall Street Journal reports. Shareholders of record on Monday, June 16th will be given a dividend of 0.1017 per share by the real estate investment trust on Friday, June 27th. This represents a $1.22 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date of this dividend is Monday, June 16th.

Healthpeak Properties has increased its dividend payment by an average of 34.0% annually over the last three years. Healthpeak Properties has a dividend payout ratio of 420.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Healthpeak Properties to earn $1.95 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 62.6%.

Healthpeak Properties Stock Down 1.3 %

Healthpeak Properties stock opened at $17.96 on Wednesday. The firm has a market capitalization of $12.57 billion, a P/E ratio of 51.33, a P/E/G ratio of 2.17 and a beta of 1.02. The company has a 50-day simple moving average of $19.95 and a 200-day simple moving average of $20.93. Healthpeak Properties has a one year low of $17.56 and a one year high of $23.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.35 and a current ratio of 1.35.

Analyst Upgrades and Downgrades

Several brokerages have commented on DOC. Robert W. Baird dropped their price target on shares of Healthpeak Properties from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company cut their target price 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. Scotiabank lowered their price target on Healthpeak Properties from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Friday, February 28th. Morgan Stanley raised shares of Healthpeak Properties from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a report on Wednesday, January 15th. Finally, StockNews.com raised shares of Healthpeak Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 22nd. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

Healthpeak Properties Company Profile

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.