Healthcare Realty Trust (NYSE:HR) Updates 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 guidance of $0.38 to $0.39 for the period, compared to the consensus earnings per share 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 %

NYSE:HR traded up $0.33 on Friday, reaching $15.37. 241,662 shares of the company’s stock traded hands, compared to its average volume of 3,418,123. Healthcare Realty Trust has a 12 month low of $12.77 and a 12 month high of $20.30. The stock has a 50-day simple moving average of $13.98 and a 200-day simple moving average of $15.07. The firm 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 posted 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). Healthcare Realty Trust had a negative net margin of 20.71% and a negative return on equity of 3.87%. The business had revenue of $330.40 million during the quarter, compared to analysts’ expectations of $334.32 million. During the same period last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Healthcare Realty Trust will post 1.56 earnings per share for the current year.

Healthcare Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Monday, May 13th will be issued a $0.31 dividend. The ex-dividend date of this dividend 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 (DPR) is presently -167.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. 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 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 issued a hold rating and a $18.00 price objective on the stock. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. dropped their target price on Healthcare Realty Trust from $19.00 to $17.00 and set an overweight rating on the stock in a research report on Wednesday, March 6th. Finally, Wedbush boosted their price objective on Healthcare Realty Trust from $15.00 to $16.00 and gave the company a neutral rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Healthcare Realty Trust presently has an average rating of Hold and an average 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.