Healthcare Realty Trust (NYSE:HR) Releases FY24 Earnings Guidance

Healthcare Realty Trust (NYSE:HR) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.52 to $1.58 for the period, compared to the consensus earnings per share estimate of $1.56. Healthcare Realty Trust also updated its Q2 guidance to $0.38 to $0.39 EPS.

Healthcare Realty Trust Trading Up 0.1 %

NYSE HR traded up $0.02 during trading on Thursday, hitting $15.33. 928,158 shares of the company’s stock were exchanged, compared to its average volume of 3,440,133. The stock’s 50 day moving average price is $13.95 and its two-hundred day moving average price is $15.06. Healthcare Realty Trust has a fifty-two week low of $12.77 and a fifty-two week high of $20.30. The company has a market cap of $5.84 billion, a PE ratio of -20.70 and a beta of 0.78.

Healthcare Realty Trust (NYSE:HR) last announced its quarterly earnings results on Friday, February 16th. The real estate investment trust reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.51). The firm had revenue of $330.40 million during the quarter, compared to the consensus estimate of $334.32 million. Healthcare Realty Trust had a negative net margin of 20.71% and a negative return on equity of 3.87%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. Analysts forecast that Healthcare Realty Trust will post 1.56 earnings per share for the current fiscal year.

Healthcare Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Monday, May 13th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 8.09%. The ex-dividend date is Friday, May 10th. Healthcare Realty Trust’s dividend payout ratio is currently -167.57%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Healthcare Realty Trust in a report on Tuesday, January 30th. They set a hold rating and a $18.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Healthcare Realty Trust from $19.00 to $17.00 and set an overweight rating on the stock in a report on Wednesday, March 6th. Wedbush raised their price target on shares of Healthcare Realty Trust from $15.00 to $16.00 and gave the stock a neutral rating in a report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Healthcare Realty Trust from $18.00 to $15.00 and set an equal weight rating on the stock in a research note on Wednesday, April 10th. Finally, Stifel Nicolaus cut Healthcare Realty Trust from a buy rating to a hold rating and decreased their target price for the stock from $19.00 to $15.00 in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $17.30.

Healthcare Realty Trust Company Profile

Healthcare Realty (NYSE: HR) is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As the first and largest REIT to specialize in medical outpatient buildings, Healthcare Realty's portfolio includes more than 700 properties totaling over 40 million square feet concentrated in 15 growth markets.