The stock of Healthpeak Properties, Inc. (NYSE:PEAK) is now priced at $27.68 and the shares are 0.18 points up or 0.65% higher compared to its previous closing price of $27.5. The stock had 3.85 million contracts set over the past session. PEAK shares’ daily volume is compared to its average trading volume at 4.536 million shares. However, it has a float of 538 million and although its performance was -1.91% over the week, it’s one to watch. Analysts have given the PEAK stock a yearly average price target of $28.38 per share. It means the stock’s upside potential is 2.53% with the PEAK share price recently placing at $27.19 to $27.835. However, some brokerage firms have priced the stock below the average, including one that has called $26.
The shorts are running away from the Healthpeak Properties, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PEAK shares have declined. Short interest in the stock represents just 1.48% of its float, but the volume has dropped by 0.
In the last trading session, Healthpeak Properties, Inc. (NYSE:PEAK) dropped by -$0.54 over the week and gained $1.81 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $37.93. The stock recorded its established 52-week high on 10/24/19.
Since 03/18/20, the stock has traded to a low of $18.63 at 48.58%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.67. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Healthpeak Properties, Inc.’s two-week RSI is 52.52. This suggests that the stock is neutral at the moment and that PEAK shares’ price movement remains stable. The stochastic readings are equally revealing at 32.58% meaning the PEAK share price is currently in neutral territory.
The technical chart shows that the PEAK stock will likely settle at between $27.95 and $28.21 per share. However, if the stock dips below $27.3, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $26.92.
Currently, the stock is trading in the red of MACD, with a reading of -0.62. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Raymond James cut their recommendation for PEAK from Outperform to Mkt Perform in April 29 review. BofA/Merrill analysts downgraded their recommendation of the stock from Buy to Neutral in a flash note released to investors on March 23. Mizuho analysts see the stock as Buy when the analysts initiated the share price coverage on December 20.
The average rating for the PEAK equity is 2.37 and is currently gathering a bullish momentum. Of 19 analysts tracking Healthpeak Properties, Inc. polled by Reuters, 9 rated PEAK as a hold. The remaining 10 analysts were split evenly. However, the split wasn’t equal as a majority (10) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PEAK stock price is 98.51X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 44.6 above the group’s average of 26.8. Healthpeak Properties, Inc. has its P/E ratio at 2.1, which means that the stock is currently trading at a premium relative to the 1.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Healthpeak Properties, Inc. (NYSE:PEAK) will decrease by about -99.9%, which will see them reach $586 million. The company’s full-year revenues are, however, expected to increase by about 16%, up from $2000 million to $2320 million. PEAK’s expected adjusted earnings should drop almost -144.44% to end up at $0.04 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 566.67% to record $0.6/share.