Healthcare Realty Trust (NYSE:HR) Updates FY24 Earnings Guidance

Healthcare Realty Trust (NYSE:HR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.52 to $1.58 for the period, compared to the consensus earnings per share estimate of $1.56. Healthcare Realty Trust also updated its Q2 guidance to $0.38 to $0.39 EPS.

Wall Street Analyst Weigh In

Several research firms have issued reports on HR. Stifel Nicolaus downgraded shares of Healthcare Realty Trust from a buy rating to a hold rating and cut their target price for the company from $19.00 to $15.00 in a research note on Tuesday, February 20th. Wells Fargo & Company dropped their price target on shares of Healthcare Realty Trust from $18.00 to $15.00 and set an equal weight rating on the stock in a research note on Wednesday, April 10th. Wedbush upped their price target on shares of Healthcare Realty Trust from $15.00 to $16.00 and gave the stock a neutral rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Healthcare Realty Trust in a research note on Tuesday, January 30th. They issued a hold rating and a $18.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of Healthcare Realty Trust from $19.00 to $17.00 and set an overweight rating on the stock in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $17.30.

Healthcare Realty Trust Stock Performance

Shares of NYSE HR traded down $0.10 during midday trading on Wednesday, reaching $15.32. 6,026,257 shares of the company traded hands, compared to its average volume of 3,466,790. The firm has a market cap of $5.84 billion, a PE ratio of -20.63 and a beta of 0.78. The stock’s 50-day simple moving average is $13.91 and its 200-day simple moving average is $15.06. Healthcare Realty Trust has a 12 month low of $12.77 and a 12 month high of $20.30.

Healthcare Realty Trust (NYSE:HR) last announced its 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 during the quarter, compared to analyst estimates of $334.32 million. Healthcare Realty Trust had a negative net margin of 20.71% and a negative return on equity of 3.87%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. On average, equities research analysts expect that Healthcare Realty Trust will post 1.56 EPS for the current year.

Healthcare Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Monday, May 13th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 8.10%. The ex-dividend date of this dividend is Friday, May 10th. Healthcare Realty Trust’s payout ratio is -167.57%.

Healthcare Realty Trust Company Profile

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.