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

Healthcare Realty Trust (NYSE:HR) updated its FY24 earnings guidance on Tuesday. 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 recently issued reports on HR. Stifel Nicolaus lowered shares of Healthcare Realty Trust from a buy rating to a hold rating and reduced their target price for the stock from $19.00 to $15.00 in a research note on Tuesday, February 20th. Wedbush raised their price objective on shares of Healthcare Realty Trust from $15.00 to $16.00 and gave the company a neutral rating in a research report on Wednesday. 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 on the stock in a research note on Wednesday, April 10th. JPMorgan Chase & Co. decreased 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Healthcare Realty Trust in a research note on Tuesday, January 30th. They issued a hold rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $17.30.

Healthcare Realty Trust Stock Performance

HR stock traded up $0.33 during midday trading on Friday, reaching $15.37. The company’s stock had a trading volume of 241,662 shares, compared to its average volume of 3,418,123. The stock has a fifty day simple moving average of $13.98 and a two-hundred day simple moving average of $15.07. Healthcare Realty Trust has a 1 year low of $12.77 and a 1 year high of $20.30. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of -20.35 and a beta of 0.78.

Healthcare Realty Trust (NYSE:HR) last announced its quarterly earnings results on Friday, February 16th. The real estate investment trust reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.51). The firm had revenue of $330.40 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. As a group, analysts forecast that Healthcare Realty Trust will post 1.56 EPS for the current fiscal year.

Healthcare Realty Trust Announces Dividend

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