Healthpeak Properties, Inc. (NYSE:DOC) Raises Dividend to $0.31 Per Share

Healthpeak Properties, Inc. (NYSE:DOC) declared a quarterly dividend on Monday, February 3rd,RTT News reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.305 per share by the real estate investment trust on Wednesday, February 26th. This represents a $1.22 annualized dividend and a dividend yield of 6.23%. The ex-dividend date is Friday, February 14th. This is a boost from Healthpeak Properties’s previous quarterly dividend of $0.30.

Healthpeak Properties has increased its dividend payment by an average of 34.0% annually over the last three years. Healthpeak Properties has a payout ratio of 469.2% 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 $1.94 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 62.9%.

Healthpeak Properties Stock Performance

Shares of DOC stock opened at $19.60 on Wednesday. Healthpeak Properties has a 12-month low of $16.01 and a 12-month high of $23.26. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.35 and a quick ratio of 1.31. The firm has a market capitalization of $13.71 billion, a price-to-earnings ratio of 55.99, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15. The business has a 50 day simple moving average of $20.50 and a 200 day simple moving average of $21.51.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com cut Healthpeak Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Healthpeak Properties from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Mizuho lowered their target price on shares of Healthpeak Properties from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. 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 report on Tuesday. Finally, Morgan Stanley upgraded 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.08.

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.