Healthcare Realty Trust (NYSE:HR) Releases 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.

Healthcare Realty Trust Stock Up 2.2 %

Healthcare Realty Trust stock traded up $0.33 during trading on Friday, reaching $15.37. The stock had a trading volume of 241,662 shares, compared to its average volume of 3,418,123. Healthcare Realty Trust has a 52-week low of $12.77 and a 52-week high of $20.30. The business has a 50 day moving average price of $13.98 and a 200 day moving average price of $15.07. The stock has a market cap of $5.86 billion, a PE ratio of -20.35 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.51). Healthcare Realty Trust had a negative return on equity of 3.87% and a negative net margin of 20.71%. The firm had revenue of $330.40 million during the quarter, compared to analysts’ expectations of $334.32 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year. On average, equities analysts predict that Healthcare Realty Trust will post 1.56 EPS for the current fiscal year.

Healthcare Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Monday, May 13th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, May 10th. This represents a $1.24 annualized dividend and a dividend yield of 8.07%. Healthcare Realty Trust’s dividend payout ratio is presently -167.57%.

Analyst Ratings Changes

HR has been the subject of several recent analyst reports. Stifel Nicolaus downgraded shares of Healthcare Realty Trust from a buy rating to a hold rating and reduced their price objective for the stock from $19.00 to $15.00 in a research report on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Healthcare Realty Trust in a research report on Tuesday, January 30th. They set a hold rating and a $18.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Healthcare Realty Trust from $19.00 to $17.00 and set an overweight rating on the stock in a report on Wednesday, March 6th. Wedbush lifted their target price on shares of Healthcare Realty Trust from $15.00 to $16.00 and gave the company a neutral rating in a report on Wednesday. Finally, Wells Fargo & Company cut their target price on shares of Healthcare Realty Trust from $18.00 to $15.00 and set an equal weight rating on the stock in a report on Wednesday, April 10th. One research 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $17.30.

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.