Healthcare Realty Trust (NYSE:HR) Downgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. cut shares of Healthcare Realty Trust (NYSE:HR) from an overweight rating to a neutral rating in a research note published on Friday, MarketBeat Ratings reports. The brokerage currently has $19.00 target price on the real estate investment trust’s stock.

Separately, Wells Fargo & Company restated an “underweight” rating and issued a $17.00 price objective (up from $16.00) on shares of Healthcare Realty Trust in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.50.

Healthcare Realty Trust Price Performance

Shares of NYSE HR opened at $16.88 on Friday. The company has a market capitalization of $5.98 billion, a P/E ratio of -10.68 and a beta of 0.93. The company has a 50 day simple moving average of $17.72 and a 200-day simple moving average of $17.53. Healthcare Realty Trust has a 1 year low of $12.77 and a 1 year high of $18.90.

Healthcare Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date of this dividend was Tuesday, November 12th. Healthcare Realty Trust’s dividend payout ratio is presently -78.48%.

Insider Buying and Selling

In other Healthcare Realty Trust news, Director Thomas N. Bohjalian purchased 7,750 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of $17.39 per share, for a total transaction of $134,772.50. Following the purchase, the director now directly owns 50,002 shares in the company, valued at approximately $869,534.78. This trade represents a 18.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter F. Sr Lyle, Sr. acquired 10,000 shares of the stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $17.21 per share, for a total transaction of $172,100.00. Following the completion of the transaction, the director now directly owns 26,576 shares in the company, valued at $457,372.96. The trade was a 60.33 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 18,750 shares of company stock worth $323,723. Corporate insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Healthcare Realty Trust

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in Healthcare Realty Trust by 38.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,276 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Healthcare Realty Trust by 260.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,809 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 2,030 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Healthcare Realty Trust during the 3rd quarter worth approximately $65,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Healthcare Realty Trust in the 3rd quarter valued at approximately $78,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Healthcare Realty Trust in the third quarter valued at approximately $89,000.

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.