HCP (NYSE:HCP) had its price target increased by Stifel Nicolaus from $32.00 to $34.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. They currently have a buy rating on the real estate investment trust’s stock.
Several other brokerages have also recently weighed in on HCP. KeyCorp boosted their price target on shares of HCP from $32.00 to $34.00 and gave the company an overweight rating in a research report on Monday, July 1st. Raymond James raised shares of HCP from a market perform rating to an outperform rating and set a $35.00 price target on the stock in a research report on Thursday, June 13th. Finally, TheStreet cut shares of HCP from a b- rating to a c+ rating in a research report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $31.30.
HCP traded up $0.50 on Thursday, hitting $32.89. 3,858,519 shares of the company’s stock were exchanged, compared to its average volume of 2,067,188. HCP has a fifty-two week low of $24.47 and a fifty-two week high of $33.58. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.90. The firm’s 50-day simple moving average is $32.33. The company has a market capitalization of $15.65 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 7.10 and a beta of 0.31.
HCP (NYSE:HCP) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.46). The business had revenue of $489.15 million for the quarter, compared to analyst estimates of $444.67 million. HCP had a return on equity of 15.54% and a net margin of 53.57%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.45 EPS. As a group, equities research analysts forecast that HCP will post 1.74 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, August 2nd. This represents a $1.48 annualized dividend and a dividend yield of 4.50%. HCP’s payout ratio is 81.32%.
In other HCP news, Director Christine Garvey sold 3,405 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $29.80, for a total value of $101,469.00. Following the transaction, the director now owns 5,348 shares of the company’s stock, valued at $159,370.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its position in HCP by 5.4% in the first quarter. Wells Fargo & Company MN now owns 1,565,293 shares of the real estate investment trust’s stock valued at $48,994,000 after buying an additional 80,578 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in HCP in the fourth quarter valued at about $352,000. Timbercreek Investment Management Inc. lifted its position in HCP by 9.1% in the second quarter. Timbercreek Investment Management Inc. now owns 572,153 shares of the real estate investment trust’s stock valued at $18,629,000 after buying an additional 47,500 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in HCP by 8.8% in the first quarter. Wetherby Asset Management Inc. now owns 8,587 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 692 shares during the last quarter. Finally, Unigestion Holding SA lifted its position in HCP by 1,639.7% in the second quarter. Unigestion Holding SA now owns 2,016,300 shares of the real estate investment trust’s stock valued at $64,481,000 after buying an additional 1,900,400 shares during the last quarter. 95.70% of the stock is currently owned by institutional investors.
HCP Company Profile
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.
See Also: Intrinsic Value
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