Healthpeak Properties Inc. (NYSE: PEAK) stock fell -1.83% on Thursday to $19.28 against a previous-day closing price of $19.64. With 5.7 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.76 million shares. During the session, the REIT – Healthcare Facilities company that operates in wider Real Estate sector, reached to the highest price of $19.63 whereas the lowest price it dropped to was $19.18. The 52-week range on PEAK shows that it touched its highest point at $29.91 and its lowest point at $19.61 during that stretch. It currently has a 1-year price target of $26.00. With its current market cap of 10.71 billion, PEAK has annualized dividend of $1.20 while the current yield stands at 6.22%. Beta for the stock currently stands at 0.89.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PEAK was down-trending over the past week, with a drop of -4.55%, but this was down by -7.17% over a month. Three-month performance dropped to -21.47% while six-month performance fell -24.09%. The stock lost -34.13% in the past year, while it has lost -23.10% so far this year. A look at the trailing 12-month EPS for PEAK yields 0.99 with Next year EPS estimates of 0.55. For the next quarter, that number is 0.11. This implies an EPS growth rate of 324.50% for this year and 1.30% for next year. EPS is expected to decline by -6.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 0.00%.
Float and Shares Shorts:
At present, 537.92 million PEAK shares are outstanding with a float of 535.96 million shares on hand for trading. On May 14, 2023, short shares totaled 10.6 million, which was 1.94% higher than short shares on Apr 13, 2023. In addition to Mr. Scott M. Brinker as the firm’s Pres, CEO & Director, Mr. Peter A. Scott serves as its Chief Financial Officer.
Through their ownership of 95.33% of PEAK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.46% of PEAK, in contrast to 40.59% held by mutual funds. Shares owned by individuals account for 0.34%. As the largest shareholder in PEAK with 15.81% of the stake, The Vanguard Group, Inc. holds 86,453,575 shares worth 86,453,575. A second-largest stockholder of PEAK, SSgA Funds Management, Inc., holds 39,231,046 shares, controlling over 7.18% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PEAK, holding 38,157,479 shares or 6.98% stake. With a 4.32% stake in PEAK, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 23,623,467 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.10% of PEAK stock, is the second-largest Mutual Fund holder. It holds 16,956,303 shares valued at 372.53 million. Government Pension Fund – Global holds 2.80% of the stake in PEAK, owning 15,296,360 shares worth 336.06 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, PEAK reported revenue of $517.93M and operating income of $97.62M. The EBITDA in the recently reported quarter was $280.97M and diluted EPS was $0.13.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PEAK since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PEAK analysts setting a high price target of $33.00 and a low target of $22.00, the average target price over the next 12 months is $26.19. Based on these targets, PEAK could surge 71.16% to reach the target high and rise by 14.11% to reach the target low. Reaching the average price target will result in a growth of 35.84% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded PEAK stock several times over the past three months with 10 Buys and 1 Sells. In these transactions, 79,168 shares were bought while 7,100 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 49 over the past year. The total number of shares bought during that period was 366,754 while 382,010 shares were sold.