Royal Bank of Canada upgraded shares of HCP (NYSE:HCP) from a sector perform rating to an outperform rating in a research report released on Friday morning, MarketBeat Ratings reports.
A number of other research analysts have also weighed in on the stock. Stifel Nicolaus set a $28.00 target price on shares of HCP and gave the company a buy rating in a report on Friday, August 3rd. Mizuho reissued a buy rating and issued a $29.00 target price on shares of HCP in a report on Monday, August 13th. Bank of America raised their target price on shares of HCP from $27.50 to $28.00 and gave the company a buy rating in a report on Monday, September 17th. Morgan Stanley raised their target price on shares of HCP from $23.50 to $25.00 and gave the company an equal weight rating in a report on Thursday, August 16th. Finally, Capital One Financial assumed coverage on shares of HCP in a report on Tuesday, July 24th. They issued an equal weight rating and a $27.50 target price for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $26.75.
HCP stock opened at $28.22 on Friday. The company has a market cap of $12.97 billion, a PE ratio of 14.47, a P/E/G ratio of 6.94 and a beta of 0.16. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.21. HCP has a 1 year low of $21.48 and a 1 year high of $28.44.
HCP (NYSE:HCP) last released its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.10. The firm had revenue of $456.00 million for the quarter, compared to analysts’ expectations of $456.59 million. HCP had a net margin of 9.16% and a return on equity of 3.06%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 earnings per share. As a group, analysts anticipate that HCP will post 1.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Monday, November 5th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Friday, November 2nd. HCP’s payout ratio is 75.90%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its stake in HCP by 2.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 89,768 shares of the real estate investment trust’s stock worth $2,363,000 after buying an additional 1,883 shares during the period. Stephens Inc. AR boosted its stake in HCP by 5.1% during the second quarter. Stephens Inc. AR now owns 40,944 shares of the real estate investment trust’s stock worth $1,057,000 after buying an additional 1,993 shares during the period. Advisor Partners LLC boosted its stake in HCP by 20.7% during the second quarter. Advisor Partners LLC now owns 11,864 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 2,038 shares during the period. Amalgamated Bank boosted its stake in HCP by 3.6% during the second quarter. Amalgamated Bank now owns 60,479 shares of the real estate investment trust’s stock worth $1,562,000 after buying an additional 2,084 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in HCP by 0.3% during the third quarter. State Board of Administration of Florida Retirement System now owns 725,114 shares of the real estate investment trust’s stock worth $19,085,000 after buying an additional 2,094 shares during the period. 87.64% of the stock is owned by institutional investors.
HCP, Inc is a fully integrated real estate investment trust (REIT) that invests in real estate serving the healthcare industry in the United States. HCP owns a large-scale portfolio primarily diversified across life science, medical office and senior housing. Recognized as a global leader in sustainability, HCP has been a publicly-traded company since 1985 and was the first healthcare REIT selected to the S&P 500 index.
Further Reading: Why do company’s buyback their stock?
Receive News & Ratings for HCP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HCP and related companies with MarketBeat.com's FREE daily email newsletter.