Healthcare Realty Trust (NYSE:HR) Updates Q2 Earnings Guidance

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

Analyst Ratings Changes

HR has been the topic of several recent analyst reports. Stifel Nicolaus lowered shares of Healthcare Realty Trust from a buy rating to a hold rating and lowered their price objective for the stock from $19.00 to $15.00 in a research note on Tuesday, February 20th. Wedbush raised their price objective on Healthcare Realty Trust from $15.00 to $16.00 and gave the company a neutral rating in a research report on Wednesday. JPMorgan Chase & Co. decreased 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. Deutsche Bank Aktiengesellschaft started coverage on Healthcare Realty Trust in a report on Tuesday, January 30th. They set a hold rating and a $18.00 price target for the company. Finally, Wells Fargo & Company dropped 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 report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $17.30.

Healthcare Realty Trust Price Performance

Shares of Healthcare Realty Trust stock traded up $0.02 during midday trading on Thursday, reaching $15.33. The company had a trading volume of 928,158 shares, compared to its average volume of 3,440,133. Healthcare Realty Trust has a fifty-two week low of $12.77 and a fifty-two week high of $20.30. The stock has a fifty day moving average price of $13.95 and a 200 day moving average price of $15.06. The firm 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 issued its quarterly earnings results on Friday, February 16th. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.51). The business had revenue of $330.40 million for the quarter, compared to analyst estimates of $334.32 million. Healthcare Realty Trust had a negative return on equity of 3.87% and a negative net margin of 20.71%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share. As a group, sell-side analysts forecast that Healthcare Realty Trust will post 1.56 EPS for the current year.

Healthcare Realty Trust Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.24 annualized dividend and a dividend yield of 8.09%. Healthcare Realty Trust’s dividend payout ratio is presently -167.57%.

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.