Vetr upgraded shares of HCP Inc. (NYSE:HCP) from a buy rating to a strong-buy rating in a research note released on Monday. Vetr currently has $32.83 target price on the real estate investment trust’s stock.
A number of other research firms also recently issued reports on HCP. Citigroup Inc. boosted their price target on HCP from $34.00 to $38.00 and gave the company a neutral rating in a research report on Wednesday, August 24th. BTIG Research initiated coverage on HCP in a research report on Thursday, August 25th. They issued a neutral rating for the company. Zacks Investment Research downgraded HCP from a buy rating to a hold rating in a research report on Monday, September 26th. Wells Fargo & Co. reaffirmed a hold rating on shares of HCP in a research report on Sunday, September 4th. Finally, Raymond James Financial Inc. initiated coverage on HCP in a research report on Tuesday, July 26th. They issued an underperform rating for the company. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $34.33.
HCP (NYSE:HCP) opened at 29.51 on Monday. The company’s 50-day moving average price is $30.99 and its 200-day moving average price is $32.85. The stock’s market cap is $13.81 billion. HCP has a 1-year low of $22.87 and a 1-year high of $36.82.
HCP (NYSE:HCP) last posted its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. HCP had a negative return on equity of 0.32% and a negative net margin of 1.16%. The firm earned $654.30 million during the quarter, compared to the consensus estimate of $634.11 million. During the same quarter in the previous year, the business earned $0.79 earnings per share. Analysts predict that HCP will post $2.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Thursday, November 10th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date is Tuesday, November 8th. HCP’s payout ratio is -1,850.00%.
In other news, insider Darren A. Kowalske sold 2,250 shares of the stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $39.20, for a total transaction of $88,200.00. Following the sale, the insider now directly owns 9,793 shares in the company, valued at approximately $383,885.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas D. Kirby sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $40.24, for a total value of $120,720.00. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Nuveen Asset Management LLC boosted its stake in shares of HCP by 6.2% in the first quarter. Nuveen Asset Management LLC now owns 31,204 shares of the real estate investment trust’s stock worth $1,017,000 after buying an additional 1,826 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in HCP during the first quarter valued at approximately $756,000. Arizona State Retirement System boosted its stake in HCP by 2.6% in the first quarter. Arizona State Retirement System now owns 193,044 shares of the real estate investment trust’s stock valued at $6,289,000 after buying an additional 4,900 shares in the last quarter. Royal Bank of Canada boosted its stake in HCP by 0.3% in the first quarter. Royal Bank of Canada now owns 683,987 shares of the real estate investment trust’s stock valued at $22,283,000 after buying an additional 1,757 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in HCP during the first quarter valued at approximately $886,000. Institutional investors and hedge funds own 91.72% of the company’s stock.
HCP Company Profile
HCP, Inc (HCP) is a self-administered real estate investment trust (REIT). The Company invests in real estate serving the healthcare industry in the United States. Its portfolio consists of investments in various healthcare segments: senior housing, post-acute/skilled nursing, life science, medical office and hospital.