Healthpeak Properties, Inc. (NYSE:DOC) Announces $0.10 Monthly Dividend

Healthpeak Properties, Inc. (NYSE:DOC) announced a monthly dividend on Tuesday, April 8th, Wall Street Journal reports. Stockholders of record on Monday, June 16th will be given a dividend of 0.1017 per share by the real estate investment trust on Friday, June 27th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date of this dividend is Monday, June 16th.

Healthpeak Properties has increased its dividend payment by an average of 34.0% per year over the last three years. Healthpeak Properties has a payout ratio of 420.7% 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 $1.95 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 62.6%.

Healthpeak Properties Stock Performance

NYSE DOC opened at $18.63 on Thursday. The business has a 50 day moving average price of $19.87 and a 200 day moving average price of $20.88. The company has a market capitalization of $13.03 billion, a P/E ratio of 53.23, a PEG ratio of 2.17 and a beta of 1.02. Healthpeak Properties has a 1-year low of $17.33 and a 1-year high of $23.26. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.35 and a quick ratio of 1.35.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DOC. Wedbush cut their price objective on shares of Healthpeak Properties from $27.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 14th. Scotiabank reduced their target price on Healthpeak Properties from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Friday, February 28th. Morgan Stanley raised Healthpeak Properties from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research note on Wednesday, January 15th. StockNews.com raised shares of Healthpeak Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Finally, Robert W. Baird decreased their price objective on shares of Healthpeak Properties from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Healthpeak Properties currently has an average rating of “Moderate Buy” and a consensus price target of $23.83.

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.