Deutsche Bank Raises HR Price Target to $23

On October 20, 2026, Deutsche Bank upgraded Healthcare Realty Trust Incorporated (NYSE: HR) to a Buy rating and increased its price target from $18.00 to $23.00. The research note arrived as Wall Street firms weighed upcoming financial results for the real estate investment trust.

HR Healthcare Realty Trust Incorporated

$17.42 ▲ +6.67% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Deutsche Bank's Call on Healthcare Realty Trust

In its October 20 note, Deutsche Bank shifted its stance on the medical building owner with a Buy rating and a $23.00 price target. The stock closed at $17.76 on the day of the rating change.

Other Institutional Activity in Healthcare Realty Trust

Large funds adjusted their positions in the company earlier in the year. Cohen & Steers Inc. grew its holdings by 812,951 shares, ending with 53,261,400 shares worth about $933.7 million. Resolution Capital Ltd reduced its stake by 1,898,827 shares, finishing with 12,135,370 shares valued around $212.7 million. Apg Asset Management US Inc. kept its holding steady at 10,223,995 shares worth roughly $179.2 million. Daiwa Securities Group Inc. trimmed its position by 317,542 shares, ending with 8,105,312 shares valued at approximately $142.1 million.

Healthcare Realty Trust Incorporated Stock Up 1.7%

Healthcare Realty Trust recently traded around $17.54, down about 1.2% from its event-date close of $17.76. The stock trades below its 50-day moving average of $18.35 and under its 200-day moving average of $18.81. The share price sits 20.4% below its 52-week high of $22.04 and 7.5% above its 52-week low of $16.31.

Recent Earnings

For the trailing twelve months, the company reported $1.15 billion in revenue and earnings per share of -$0.26. Its net margin stood at -7.6% alongside a return on equity of -1.9%. The real estate investment trust is set to report its next batch of quarterly financial numbers on October 29, 2026.

Dividend

The company distributes an annual dividend rate of $0.96 per share, translating to a dividend yield of roughly 5.57%. The payout ratio reached 826.7% over the past year.

Insider Buying and Selling at Healthcare Realty Trust Incorporated

Company insiders executed several transactions leading up to the upgrade. Chief Financial Officer Daniel Gabbay picked up 10 shares at $18.74 on March 4, 2026, for a total value of $187. Director Thomas N Bohjalian acquired 10,000 shares at $18.09 on March 6, 2026, totaling $180,900. On the selling side, officer Amanda L Callaway disposed of 25,767 shares at $20.37 on June 23, 2026, worth $524,874, and Chief Operating Officer Robert E Hull parted with 21,000 shares at $19.11 on September 8, 2026, for a value of $401,310.

Analysts Set New Price Targets

Analyst coverage ahead of the upgrade featured several target adjustments. RBC Capital maintained a Sector Perform rating with a $22.00 target on August 7, 2026. Wells Fargo kept an Equal-Weight rating on September 1, 2026, while adjusting its target from $21.00 to $20.00. UBS maintained a Neutral rating on October 13, 2026, lowering its target to $18.00 from $21.00. Wells Fargo reiterated its Equal-Weight rating on October 19, 2026, reducing its target to $18.00 from $20.00. Across the broader analyst community, the stock carries a consensus buy rating with a mean price target of $21.08 based on 12 opinions.

About Healthcare Realty Trust

Healthcare Realty Trust is a real estate investment trust based in Nashville, Tennessee, that acquires, owns, and operates medical outpatient buildings situated near major hospital campuses. The firm manages a portfolio designed to support outpatient healthcare providers.

Bottom Line

Investors will look toward the upcoming earnings release on October 29, 2026, for further insight into the company's financial direction. Market watchers will also track whether other Wall Street firms follow Deutsche Bank's lead in updating their targets.