Healthpeak Properties (NYSE:DOC) Upgraded to Outperform by Wedbush

Wedbush upgraded shares of Healthpeak Properties (NYSE:DOC) from a neutral rating to an outperform rating in a research report sent to investors on Friday, Marketbeat reports.

A number of other equities analysts also recently weighed in on DOC. Wells Fargo & Company began coverage on Healthpeak Properties in a research report on Monday, March 25th. They set an equal weight rating and a $19.00 price target for the company. StockNews.com downgraded Healthpeak Properties from a hold rating to a sell rating in a research report on Friday, April 26th. Mizuho reaffirmed a buy rating and set a $22.00 price target on shares of Healthpeak Properties in a research report on Monday, April 22nd. BNP Paribas raised Healthpeak Properties from a neutral rating to an outperform rating and upped their price target for the stock from $19.00 to $21.00 in a research report on Friday, April 26th. Finally, KeyCorp reaffirmed a sector weight rating on shares of Healthpeak Properties in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $18.50.

Healthpeak Properties Price Performance

NYSE DOC opened at $18.97 on Friday. The business has a 50 day simple moving average of $17.58 and a 200 day simple moving average of $14.08. Healthpeak Properties has a 52-week low of $15.24 and a 52-week high of $22.38. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $13.35 billion, a price-to-earnings ratio of 54.20, a PEG ratio of 1.87 and a beta of 1.01.

Healthpeak Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.33%. The ex-dividend date of this dividend is Friday, May 3rd. This is an increase from Healthpeak Properties’s previous quarterly dividend of $0.23. Healthpeak Properties’s dividend payout ratio is presently 342.87%.

Hedge Funds Weigh In On Healthpeak Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Healthpeak Properties during the 4th quarter worth about $34,883,000. Leeward Investments LLC MA bought a new stake in shares of Healthpeak Properties during the fourth quarter worth approximately $13,038,000. abrdn plc grew its position in shares of Healthpeak Properties by 1,749.1% in the fourth quarter. abrdn plc now owns 919,351 shares of the real estate investment trust’s stock valued at $12,237,000 after purchasing an additional 869,631 shares during the last quarter. Angelo Gordon & CO. L.P. acquired a new position in shares of Healthpeak Properties in the fourth quarter valued at approximately $3,713,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Healthpeak Properties by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,943,465 shares of the real estate investment trust’s stock worth $52,488,000 after purchasing an additional 239,972 shares during the period. 93.57% of the stock is owned by institutional investors.

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.