Healthcare Realty Trust (NYSE:HR) Updates FY 2024 Earnings Guidance

Healthcare Realty Trust (NYSE:HR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.520-1.580 for the period, compared to the consensus earnings per share estimate of 1.560. The company issued revenue guidance of -. Healthcare Realty Trust also updated its Q2 2024 guidance to 0.380-0.390 EPS.

Healthcare Realty Trust Stock Performance

NYSE:HR traded down $0.26 during trading hours on Wednesday, reaching $15.15. The stock had a trading volume of 1,409,829 shares, compared to its average volume of 3,415,106. The stock has a market capitalization of $5.77 billion, a PE ratio of -20.63 and a beta of 0.78. Healthcare Realty Trust has a 52 week low of $12.77 and a 52 week high of $20.30. The company has a 50 day moving average price of $13.91 and a two-hundred day moving average price of $15.06.

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

Healthcare Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Monday, May 13th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.24 annualized dividend and a yield of 8.18%. Healthcare Realty Trust’s dividend payout ratio (DPR) is currently -167.57%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HR. Deutsche Bank Aktiengesellschaft assumed coverage on Healthcare Realty Trust in a report on Tuesday, January 30th. They issued a hold rating and a $18.00 price target on the stock. 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 for the company in a research note on Wednesday, April 10th. Stifel Nicolaus lowered Healthcare Realty Trust from a buy rating to a hold rating and decreased their price objective for the company from $19.00 to $15.00 in a report on Tuesday, February 20th. Wedbush raised their price target on Healthcare Realty Trust from $15.00 to $16.00 and gave the stock a neutral rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Healthcare Realty Trust from $19.00 to $17.00 and set an overweight rating for the company in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Healthcare Realty Trust has a consensus rating of Hold and a consensus price target of $17.30.

About Healthcare Realty Trust

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.