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

Healthpeak Properties, Inc. (NYSE:DOC) declared a quarterly dividend on Thursday, April 25th, NASDAQ reports. Stockholders 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 annualized dividend and a dividend yield of 6.45%. The ex-dividend date of this dividend is Friday, May 3rd. This is a boost from Healthpeak Properties’s previous quarterly dividend of $0.23.

Healthpeak Properties has a dividend payout ratio of 418.2% meaning 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 Price Performance

Shares of DOC opened at $18.61 on Wednesday. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 53.17, a PEG ratio of 1.86 and a beta of 1.02. The stock has a 50 day moving average of $16.95 and a 200-day moving average of $13.87. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 0.92. Healthpeak Properties has a 52 week low of $15.24 and a 52 week high of $22.38.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DOC. BNP Paribas upgraded Healthpeak Properties from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $19.00 to $21.00 in a research report on Friday, April 26th. Bank of America upgraded Healthpeak Properties from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $25.00 in a research report on Monday, April 1st. KeyCorp reiterated a “sector weight” rating on shares of Healthpeak Properties in a research report on Friday, January 5th. Compass Point reduced their price objective on Healthpeak Properties from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 2nd. Finally, Wells Fargo & Company initiated coverage on 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 research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Healthpeak Properties currently has a consensus rating of “Hold” and a consensus target price 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.