Healthcare Realty Trust Incorporated (NYSE:HR) sees sharp drop in short-term interest

Healthcare Realty Trust Incorporated (NYSE: HR – Get a rating) benefited from a significant drop in short-term interest rates during the month of September. As of September 30, there was short interest totaling 9,430,000 shares, down 11.4% from the September 15 total of 10,640,000 shares. Based on an average daily volume of 6,220,000 shares, the day-to-cover ratio is currently 1.5 days.

Shares of Healthcare Realty Trust down 2.0%

Healthcare Realty Trust stock was down $0.38 during Friday trading hours, hitting $19.06. 2,753,485 shares of the company were traded, against an average volume of 3,274,731. Healthcare Realty Trust has a 1-year low of $18.80 and a 1-year high of $34.83. The company’s 50-day simple moving average is $23.46 and its two-hundred-day simple moving average is $25.91. The company has a market capitalization of $4.37 billion, a P/E ratio of 65.73 and a beta of 0.73.

Healthcare Realty Trust Announces Dividend

The company also recently declared a variable dividend, which was paid on Tuesday, August 30. Shareholders of record on Monday August 15 received a dividend of $0.109. The ex-dividend date was Friday, August 12. Healthcare Realty Trust’s dividend payout ratio is 151.73%.

Analysts set new price targets

HR has been the subject of several recent research reports. Credit Suisse Group lowered its price target on Healthcare Realty Trust from $34.00 to $29.00 and set an “outperform” rating for the company in a Monday, July 18 research report. JPMorgan Chase & Co. assumed coverage from Healthcare Realty Trust in a Thursday, July 21 research report. They set a “neutral” rating for the company. BMO Capital Markets took over coverage from Healthcare Realty Trust in a Wednesday, June 22 research report. They set a “hold” rating and a target price of $28.00 for the company. Sumitomo Mitsui Financial Group upgraded Healthcare Realty Trust from a “neutral” rating to an “outperforming” rating and set a price target of $30.00 for the company in a Thursday, August 11 report. Finally, Citigroup downgraded Healthcare Realty Trust from a “neutral” rating to a “buy” rating and raised its price target for the company from $27.00 to $28.00 in a Monday, September 19 report. One equity research analyst gave the stock a sell rating, three gave the company a hold rating and five gave the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.43.

Institutional investors weigh in on Healthcare Realty Trust

Hedge funds and other institutional investors have recently changed their stock holdings. Invesco Ltd. increased its stake in Healthcare Realty Trust by 479.6% in the 1st quarter. Invesco Ltd. now owns 5,767,849 shares of the real estate investment trust worth $158,500,000 after purchasing an additional 4,772,676 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Healthcare Realty Trust in Q1 valued at approximately $113,048,000. Thrivent Financial for Lutherans increased its stake in shares of Healthcare Realty Trust by 686.1% in Q2. Thrivent Financial for Lutherans now owns 3,504,468 shares of the real estate investment trust worth $95,322,000 after acquiring an additional 3,058,676 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Healthcare Realty Trust in Q1, valued at approximately $76,409,000. Finally, Nuance Investments LLC increased its position in shares of Healthcare Realty Trust by 55.7% in the 1st quarter. Nuance Investments LLC now owns 7,453,407 shares of the real estate investment trust valued at $204,820,000 after purchasing an additional 2,667,613 shares during the period. Institutional investors and hedge funds own 92.46% of the company’s shares.

About Healthcare Realty Trust

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Healthcare Realty Trust is a real estate investment trust that integrates the ownership, management, financing and development of income-generating real estate properties associated primarily with the provision of ambulatory healthcare services throughout the United States. As of September 30, 2020, the Company owned 211 real estate properties in 24 states totaling 15.5 million square feet and was valued at approximately $5.5 billion.

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