Healthpeak Properties (NYSE:DOC) Issues FY24 Earnings Guidance

Healthpeak Properties (NYSE:DOC) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $1.79-1.81 for the period, compared to the consensus EPS estimate of $1.79. Healthpeak Properties also updated its FY 2024 guidance to 1.560-1.580 EPS.

Healthpeak Properties Price Performance

Shares of Healthpeak Properties stock opened at $22.29 on Friday. The stock has a market cap of $15.59 billion, a P/E ratio of 47.43, a P/E/G ratio of 3.30 and a beta of 1.14. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s fifty day moving average is $22.26 and its 200 day moving average is $20.67. Healthpeak Properties has a one year low of $15.24 and a one year high of $23.26.

Healthpeak Properties (NYSE:DOC) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Healthpeak Properties had a return on equity of 3.51% and a net margin of 11.93%. The firm had revenue of $695.50 million during the quarter, compared to the consensus estimate of $665.11 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. Sell-side analysts anticipate that Healthpeak Properties will post 1.79 earnings per share for the current year.

Healthpeak Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date of this dividend is Monday, November 4th. Healthpeak Properties’s payout ratio is 255.32%.

Analyst Upgrades and Downgrades

Several research firms recently commented on DOC. Wedbush raised their price target on shares of Healthpeak Properties from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Scotiabank increased their price objective on Healthpeak Properties from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a research note on Monday, September 9th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $23.00 target price (up from $22.00) on shares of Healthpeak Properties in a research report on Tuesday, October 1st. Royal Bank of Canada increased their price target on Healthpeak Properties from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded Healthpeak Properties from a “hold” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $28.00 in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Healthpeak Properties has a consensus rating of “Moderate Buy” and an average target price of $22.62.

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.