HCP Inc. (NYSE:HCP) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Monday. The brokerage presently has a $32.83 price objective on the real estate investment trust’s stock. Vetr‘s price target points to a potential upside of 12.20% from the company’s previous close.
Other analysts also recently issued reports about the stock. Citigroup Inc. raised their target price on shares of HCP from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 24th. BTIG Research initiated coverage on shares of HCP in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. Zacks Investment Research lowered shares of HCP from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of HCP in a research note on Sunday, September 4th. Finally, Raymond James Financial Inc. initiated coverage on shares of HCP in a research note on Tuesday, July 26th. They issued an “underperform” rating on the stock. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $34.33.
Shares of HCP (NYSE:HCP) traded down 0.85% during mid-day trading on Monday, reaching $29.26. The company had a trading volume of 2,109,091 shares. The firm’s 50-day moving average is $30.99 and its 200 day moving average is $32.85. The company’s market capitalization is $13.69 billion. HCP has a 12 month low of $22.87 and a 12 month high of $36.82.
HCP (NYSE:HCP) last announced its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the 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 company earned $654.30 million during the quarter, compared to the consensus estimate of $634.11 million. During the same period in the prior year, the company earned $0.79 earnings per share. On average, equities research analysts predict that HCP will post $2.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Thursday, November 10th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.48 annualized dividend and a dividend yield of 5.06%. HCP’s dividend payout ratio is currently -1,850.00%.
In other HCP news, insider Darren A. Kowalske sold 2,250 shares of the company’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $39.20, for a total value of $88,200.00. Following the transaction, the insider now directly owns 9,793 shares in the company, valued at $383,885.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas D. Kirby sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $40.24, for a total transaction of $120,720.00. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Peoples Financial Services CORP. acquired a new position in HCP during the third quarter valued at approximately $114,000. Penserra Capital Management LLC boosted its stake in HCP by 1.2% in the second quarter. Penserra Capital Management LLC now owns 3,075 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 37 shares in the last quarter. Washington Trust Bank boosted its stake in HCP by 39.5% in the third quarter. Washington Trust Bank now owns 3,842 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 1,087 shares in the last quarter. Westbourne Investment Advisors Inc. purchased a new stake in HCP during the second quarter valued at $142,000. Finally, Tower Research Capital LLC TRC boosted its stake in HCP by 3,115.7% in the third quarter. Tower Research Capital LLC TRC now owns 4,084 shares of the real estate investment trust’s stock valued at $155,000 after buying an additional 3,957 shares in the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.
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.