filings.toolsItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our common stock is listed on the New York Stock Exchange under the symbol “PEAK.”
At January 31, 2020, we had 8,504 stockholders of record, and there were 200,205 beneficial holders of our common stock.
Dividends (Distributions)
It has been our policy to declare quarterly dividends to common stockholders so as to comply with applicable provisions of the Code governing REITs. All distributions are made at the discretion of our Board of Directors in accordance with Maryland law. Distributions with respect to our common stock can be characterized for federal income tax purposes as ordinary dividends, capital gains, nondividend distributions or a combination thereof. The following table shows the characterization of our annual common stock distributions per share:
| Year Ended December 31, | |||||||||||
| 2019 | 2018 | 2017 | |||||||||
| Ordinary dividends(1) | $ | 0.7633 | $ | 0.9578 | $ | 1.4800 | |||||
| Capital gains | 0.2714 | 0.5222 | — | ||||||||
| Nondividend distributions | 0.4453 | — | — | ||||||||
| $ | 1.4800 | $ | 1.4800 | $ | 1.4800 |
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| (1) | For the year ended December 31, 2019 all $0.7633 of ordinary dividends qualified as business income for purposes of Code Section 199A. For the year ended December 31, 2018 the amount includes $0.9414 of qualified business income for purposes of Code Section 199A and $0.0164 of qualified dividend income for purposes of Code Section 1(h)(11). |
On January 30, 2020, we announced that our Board of Directors declared a quarterly common stock cash dividend of $0.37 per share. The common stock dividend will be paid on February 28, 2020 to stockholders of record as of the close of business on February 18, 2020.
Issuer Purchases of Equity Securities
The table below sets forth the information with respect to purchases of our common stock made by or on our behalf during the quarter ended December 31, 2019.
| Period Covered | Total Number of Shares Purchased**(1)** | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number (or Approximate Dollar Value) of Shares that May Yet be Purchased Under the Plans or Programs | |||||||||
| October 1-31, 2019 | 682 | $ | 35.88 | — | — | ||||||||
| November 1-30, 2019 | 2,452 | 35.78 | — | — | |||||||||
| December 1-31, 2019 | — | — | — | — | |||||||||
| Total | 3,134 | $ | 35.80 | — | — |
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| (1) | Represents restricted shares withheld under our equity incentive plans to offset tax withholding obligations that occur upon vesting of restricted shares. The value of the shares withheld is based on the closing price of our common stock on the last trading day prior to the date the relevant transaction occurred. |
Performance Graph
The graph and table below compare the cumulative total return of Healthpeak, the S&P 500 Index and the Equity REIT Index of NAREIT, from January 1, 2015 to December 31, 2019. Total cumulative return is based on a $100 investment in Healthpeak common stock and in each of the indices at the close of trading on December 31, 2014 and assumes quarterly reinvestment of dividends before consideration of income taxes. Stockholder returns over the indicated periods should not be considered indicative of future stock prices or stockholder returns.
COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL RETURN
AMONG S&P 500, EQUITY REITS AND HEALTHPEAK PROPERTIES, INC.
RATE OF RETURN TREND COMPARISON
**JANUARY 1, 2015–**DECEMBER 31, 2019
(JANUARY 1, 2015 = $100)
Performance Graph Total Stockholder Return
| December 31, | |||||||||||||||||||
| 2015 | 2016 | 2017 | 2018 | 2019 | |||||||||||||||
| FTSE NAREIT Equity REIT Index | $ | 102.83 | $ | 111.70 | $ | 121.39 | $ | 116.48 | $ | 149.86 | |||||||||
| S&P 500 | 101.37 | 113.49 | 138.26 | 132.19 | 173.80 | ||||||||||||||
| Healthpeak Properties, Inc. | 91.96 | 83.34 | 76.89 | 87.41 | 112.85 |
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