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

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

Analysts Set New Price Targets

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

Healthcare Realty Trust Price Performance

Healthcare Realty Trust stock traded down $0.10 during trading on Wednesday, reaching $15.32. 6,026,257 shares of the company were exchanged, compared to its average volume of 3,466,790. The stock’s 50 day simple moving average is $13.91 and its two-hundred day simple moving average is $15.06. The company has a market capitalization of $5.84 billion, a P/E ratio of -20.63 and a beta of 0.78. Healthcare Realty Trust has a 52-week low of $12.77 and a 52-week high of $20.30.

Healthcare Realty Trust (NYSE:HR) last announced its quarterly earnings results on Friday, February 16th. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.51). Healthcare Realty Trust had a negative net margin of 20.71% and a negative return on equity of 3.87%. The firm had revenue of $330.40 million for the quarter, compared to analyst estimates of $334.32 million. During the same period in the previous year, the firm posted $0.42 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Healthcare Realty Trust will post 1.56 earnings per share for the current year.

Healthcare Realty Trust Dividend Announcement

The company also recently declared 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. 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 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.