Q3 2024 EPS Estimates for Healthcare Realty Trust Incorporated (NYSE:HR) Cut by Wedbush

Healthcare Realty Trust Incorporated (NYSE:HR) – Research analysts at Wedbush lowered their Q3 2024 earnings per share (EPS) estimates for Healthcare Realty Trust in a note issued to investors on Monday, August 5th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings of $0.38 per share for the quarter, down from their previous forecast of $0.40. Wedbush currently has a “Neutral” rating and a $18.00 target price on the stock. The consensus estimate for Healthcare Realty Trust’s current full-year earnings is $1.56 per share. Wedbush also issued estimates for Healthcare Realty Trust’s Q4 2024 earnings at $0.41 EPS.

Healthcare Realty Trust (NYSE:HR) last posted its earnings results on Friday, August 2nd. The real estate investment trust reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.77). The company had revenue of $316.30 million for the quarter, compared to the consensus estimate of $317.90 million. Healthcare Realty Trust had a negative net margin of 37.53% and a negative return on equity of 7.22%. Healthcare Realty Trust’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 EPS.

A number of other equities research analysts have also weighed in on the stock. Scotiabank boosted their target price on shares of Healthcare Realty Trust from $17.00 to $18.00 and gave the company a “sector perform” rating in a research note on Wednesday. Wells Fargo & Company downgraded Healthcare Realty Trust from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $17.00 to $16.00 in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.70.

Healthcare Realty Trust Stock Down 2.4 %

Shares of Healthcare Realty Trust stock opened at $17.64 on Tuesday. Healthcare Realty Trust has a twelve month low of $12.77 and a twelve month high of $19.47. The company’s 50 day moving average is $16.97 and its 200 day moving average is $15.46. The company has a market cap of $6.68 billion, a price-to-earnings ratio of -13.26 and a beta of 0.89.

Institutional Trading of Healthcare Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board increased its stake in Healthcare Realty Trust by 52.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,942,261 shares of the real estate investment trust’s stock worth $154,833,000 after buying an additional 3,758,040 shares in the last quarter. Norges Bank bought a new stake in Healthcare Realty Trust during the 4th quarter valued at approximately $59,352,000. Waterfront Capital Partners LLC purchased a new position in Healthcare Realty Trust in the 4th quarter worth approximately $51,775,000. APG Asset Management US Inc. lifted its holdings in Healthcare Realty Trust by 12.0% in the 4th quarter. APG Asset Management US Inc. now owns 12,566,887 shares of the real estate investment trust’s stock worth $216,527,000 after purchasing an additional 1,348,529 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Healthcare Realty Trust by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 54,246,277 shares of the real estate investment trust’s stock worth $767,585,000 after purchasing an additional 723,197 shares during the period.

Healthcare Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Monday, August 12th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 7.03%. The ex-dividend date is Monday, August 12th. Healthcare Realty Trust’s dividend payout ratio is -93.23%.

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.