National Healthcare Properties (NASDAQ:NHP) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of National Healthcare Properties (NASDAQ:NHP) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other equities analysts also recently weighed in on the stock. Weiss Ratings began coverage on shares of National Healthcare Properties in a research note on Monday, July 20th. They issued a “sell (d)” rating for the company. Robert W. Baird raised their price objective on shares of National Healthcare Properties from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Citizens Jmp lifted their price objective on shares of National Healthcare Properties from $18.00 to $21.00 and gave the company a “market outperform” rating in a research note on Monday, August 10th. Royal Bank Of Canada boosted their target price on shares of National Healthcare Properties from $15.00 to $17.00 and gave the company a “sector perform” rating in a report on Monday, August 17th. Finally, Citigroup restated an “outperform” rating on shares of National Healthcare Properties in a research report on Monday, August 10th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, National Healthcare Properties has an average rating of “Hold” and an average target price of $18.22.

National Healthcare Properties Stock Performance

NHP stock opened at $15.55 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $1.13 billion and a P/E ratio of -119.62. National Healthcare Properties has a fifty-two week low of $11.25 and a fifty-two week high of $17.46. The business’s fifty day moving average price is $16.19.

National Healthcare Properties (NASDAQ:NHP) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter. The firm had revenue of $87.53 million during the quarter. National Healthcare Properties had a negative net margin of 13.04% and a negative return on equity of 6.22%. During the same quarter in the prior year, the company earned ($0.85) EPS. Equities analysts predict that National Healthcare Properties will post 0.70 EPS for the current year.

National Healthcare Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Monday, October 12th will be issued a $0.0750 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, October 9th. National Healthcare Properties’s dividend payout ratio is presently -230.77%.

Hedge Funds Weigh In On National Healthcare Properties

A number of large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. bought a new stake in National Healthcare Properties during the 2nd quarter worth approximately $366,000. The Manufacturers Life Insurance Company purchased a new stake in National Healthcare Properties in the 2nd quarter worth approximately $518,000. Readystate Asset Management LP bought a new position in National Healthcare Properties in the 2nd quarter valued at $747,000. Squarepoint Ops LLC bought a new position in National Healthcare Properties in the 2nd quarter valued at $5,233,000. Finally, Citadel Advisors LLC purchased a new position in shares of National Healthcare Properties during the 2nd quarter valued at $7,325,000.

About National Healthcare Properties

National Healthcare Properties, Inc was a U.S.-based real estate investment trust focused on healthcare-related properties. The company’s portfolio consisted primarily of income-producing healthcare facilities, including skilled nursing centers, assisted-living communities, and other properties used by healthcare providers.

Its business model was based on acquiring healthcare real estate and leasing those properties to operators under long-term agreements. Through this approach, National Healthcare Properties sought to generate rental income from facilities serving aging and medically dependent populations.

National Healthcare Properties was historically associated with the U.S.