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

Healthcare Realty Trust (NYSE:HR) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.53-1.58 for the period, compared to the consensus estimate of $1.55.

Healthcare Realty Trust Stock Performance

HR stock opened at $18.63 on Tuesday. The stock’s 50 day simple moving average is $17.75 and its 200 day simple moving average is $15.97. The company has a market cap of $7.05 billion, a P/E ratio of -14.01 and a beta of 0.91. Healthcare Realty Trust has a fifty-two week low of $12.77 and a fifty-two week high of $18.90.

Healthcare Realty Trust (NYSE:HR) last issued its earnings results on Friday, August 2nd. The real estate investment trust reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.77). The firm had revenue of $316.30 million for the quarter, compared to analyst estimates of $317.90 million. Healthcare Realty Trust had a negative return on equity of 8.50% and a negative net margin of 42.79%. Healthcare Realty Trust’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. Equities analysts predict that Healthcare Realty Trust will post 1.56 earnings per share for the current year.

Healthcare Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Monday, August 12th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 6.66%. The ex-dividend date was Monday, August 12th. Healthcare Realty Trust’s payout ratio is presently -93.23%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HR. Scotiabank lifted their price target on Healthcare Realty Trust from $17.00 to $18.00 and gave the company a sector perform rating in a research note on Wednesday, August 7th. Wells Fargo & Company cut Healthcare Realty Trust from an equal weight rating to an underweight rating and cut their target price for the company from $17.00 to $16.00 in a research report on Tuesday, July 30th. Finally, Wedbush increased their price target on Healthcare Realty Trust from $15.00 to $18.00 and gave the company a neutral rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Healthcare Realty Trust currently has a consensus rating of Hold and an average price target of $17.00.

Insider Buying and Selling

In other Healthcare Realty Trust news, Director John Knox Singleton bought 6,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was purchased at an average cost of $18.24 per share, with a total value of $118,560.00. Following the transaction, the director now directly owns 57,082 shares in the company, valued at approximately $1,041,175.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John Knox Singleton acquired 6,500 shares of the stock in a transaction on Thursday, September 5th. The shares were acquired at an average price of $18.24 per share, with a total value of $118,560.00. Following the completion of the transaction, the director now owns 57,082 shares in the company, valued at approximately $1,041,175.68. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Bohjalian bought 9,000 shares of Healthcare Realty Trust stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $17.39 per share, with a total value of $156,510.00. Following the completion of the transaction, the director now directly owns 22,252 shares in the company, valued at $386,962.28. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 15,728 shares of company stock worth $279,069. 0.56% of the stock is owned by company insiders.

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.