Is Healthcare Realty Trust, Inc. overvalued or undervalued?

As of 9 May 2023, the valuation grade for Healthcare Realty Trust, Inc. has moved from very attractive to risky, indicating a significant shift in its financial outlook. The company is currently assessed as overvalued, particularly given its P/E ratio is not applicable due to losses, while its price-to-book value stands at 1.00, and it has an EV to EBITDA ratio of 7.31. The dividend yield is exceptionally high at 421.67%, but this is overshadowed by a return on equity (ROE) of -1.56% and a return on capital employed (ROCE) of only 0.86%.
In comparison to its peers, Healthcare Realty Trust, Inc. shows a stark contrast with Omega Healthcare Investors, Inc., which has a P/E ratio of 22.98 and is rated very attractive, and Federal Realty Investment Trust, which has a fair valuation with a P/E of 27.48. The company's recent stock performance has been underwhelming, with a year-to-date return of -8.67%, significantly lagging behind the S&P 500's gain of 2.44%. This combination of poor financial ratios and underperformance relative to peers further supports the conclusion that Healthcare Realty Trust, Inc. is currently overvalued.