Healthpeak Properties, Inc. (NYSE:DOC) Declares Dividend Increase – $0.30 Per Share

Healthpeak Properties, Inc. (NYSE:DOC) announced a quarterly dividend on Thursday, April 25th, NASDAQ reports. Investors of record on Monday, May 6th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date is Friday, May 3rd. This is an increase from Healthpeak Properties’s previous quarterly dividend of $0.23.

Healthpeak Properties has a dividend payout ratio of 418.2% 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 $1.87 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 49.2%.

Healthpeak Properties Stock Up 1.6 %

Shares of NYSE:DOC traded up $0.30 during trading hours on Wednesday, hitting $18.91. The company’s stock had a trading volume of 1,137,123 shares, compared to its average volume of 7,186,292. 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 current ratio of 0.69 and a quick ratio of 0.67. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 53.17, a P/E/G ratio of 1.86 and a beta of 1.02. The firm’s fifty day moving average price is $16.95 and its 200 day moving average price is $13.87.

Analyst Upgrades and Downgrades

DOC has been the topic of several research analyst reports. Mizuho reissued a “buy” rating and set a $22.00 target price on shares of Healthpeak Properties in a research report on Monday, April 22nd. Royal Bank of Canada lifted their price objective on shares of Healthpeak Properties from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. StockNews.com cut shares of Healthpeak Properties from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. BNP Paribas upgraded shares of Healthpeak Properties from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $19.00 to $21.00 in a research report on Friday, April 26th. Finally, Wells Fargo & Company began coverage on shares of Healthpeak Properties in a research report on Monday, March 25th. They set an “equal weight” rating and a $19.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.36.

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.