Zacks Investment Research upgraded shares of HCP, Inc. (NYSE:HCP) from a sell rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “Shares of HCP have underperformed its industry year to date. Nevertheless, the company recently reported better-than-expected third-quarter 2017 funds from operations (FFO) as adjusted per share. HCP also announced that it has entered into transactions that would offer a way to lower the company’s Brookdale concentration to around 15.7%. Further, the company announced coming back to the Boston life-science market with $228 million acquisition of the Hayden Research Campus. HCP is well poised to benefit from its diversified portfolio, rise in healthcare spending and an aging population. Strategic divestitures, efforts to lower the Brookdale-portfolio concentration and focus on deleveraging augur well for long-term growth. Yet, rise in interest rates and intense competition remain major concerns. Also, dilutive impact on earnings in the near term from sale of assets is unavoidable.”
Several other equities research analysts have also recently commented on the company. Jefferies Group LLC reaffirmed a hold rating and set a $33.00 target price on shares of HCP in a research note on Tuesday, July 25th. Bank of America Corporation lowered HCP from a buy rating to a neutral rating and cut their price target for the stock from $33.00 to $31.00 in a report on Friday, September 22nd. BMO Capital Markets reiterated a hold rating and issued a $32.00 price target on shares of HCP in a report on Wednesday, September 6th. UBS AG lowered HCP from a neutral rating to a sell rating and cut their price target for the stock from $30.00 to $25.00 in a report on Monday, October 2nd. Finally, Morgan Stanley cut their price target on HCP from $31.00 to $29.00 and set an equal weight rating on the stock in a report on Monday, September 25th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $30.91.
HCP (HCP) traded down $0.01 during midday trading on Thursday, reaching $27.01. The company had a trading volume of 3,328,400 shares, compared to its average volume of 3,717,537. HCP has a fifty-two week low of $25.08 and a fifty-two week high of $33.67. The firm has a market capitalization of $12,670.62, a PE ratio of 13.11, a P/E/G ratio of 2.88 and a beta of 0.36. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.17.
HCP (NYSE:HCP) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. HCP had a return on equity of 8.85% and a net margin of 27.31%. The business had revenue of $454.00 million during the quarter, compared to analysts’ expectations of $440.60 million. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s revenue was down 14.4% on a year-over-year basis. sell-side analysts predict that HCP will post 1.94 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Monday, November 6th will be issued a $0.37 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.48%. HCP’s dividend payout ratio is presently 133.33%.
Several hedge funds have recently bought and sold shares of HCP. Peoples Financial Services CORP. lifted its holdings in HCP by 4.0% during the second quarter. Peoples Financial Services CORP. now owns 3,250 shares of the real estate investment trust’s stock worth $104,000 after acquiring an additional 125 shares during the period. Sun Life Financial INC lifted its holdings in HCP by 42,675.0% during the second quarter. Sun Life Financial INC now owns 3,422 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 3,414 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in HCP by 252.5% during the second quarter. Chicago Partners Investment Group LLC now owns 3,525 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 2,525 shares during the period. Advisory Services Network LLC lifted its holdings in HCP by 4.1% during the second quarter. Advisory Services Network LLC now owns 3,782 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 150 shares during the period. Finally, ClariVest Asset Management LLC bought a new stake in HCP during the second quarter worth $172,000. Institutional investors own 91.09% of the company’s stock.
HCP Company Profile
HCP, Inc is a self-administered real estate investment trust. The Company invests in real estate serving the healthcare industry in the United States. The Company’s segments include senior housing triple-net (SH NNN), senior housing operating portfolio (SHOP), life science and medical office. Its senior housing facilities include independent living facilities, assisted living facilities, memory care facilities, care homes, and continuing care retirement communities.
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