HCP Inc. (HCP) Upgraded to “Hold” by Vetr Inc.
Vetr upgraded shares of HCP Inc. (NYSE:HCP) from a sell rating to a hold rating in a research note published on Thursday. The brokerage currently has $36.58 price target on the real estate investment trust’s stock.
A number of other brokerages have also issued reports on HCP. Argus reissued a hold rating on shares of HCP in a research note on Wednesday, June 15th. BMO Capital Markets reissued a sell rating on shares of HCP in a research note on Monday, June 20th. Morgan Stanley lowered shares of HCP from an equal weight rating to an underweight rating and set a $32.00 target price for the company. in a research note on Wednesday, June 22nd. Zacks Investment Research raised shares of HCP from a hold rating to a buy rating and set a $40.00 target price for the company in a research note on Tuesday, July 5th. Finally, Jefferies Group reissued a neutral rating on shares of HCP in a research note on Wednesday, July 6th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $34.74.
Shares of HCP (NYSE:HCP) traded up 0.38% during mid-day trading on Thursday, reaching $36.61. 251,287 shares of the company traded hands. HCP has a 52 week low of $25.11 and a 52 week high of $40.43. The firm has a 50 day moving average of $38.03 and a 200-day moving average of $36.15. The stock’s market capitalization is $17.12 billion.
HCP (NYSE:HCP) last posted its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. The company earned $662.20 million during the quarter, compared to analyst estimates of $631.25 million. HCP had a negative net margin of 2.52% and a negative return on equity of 0.67%. HCP’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 earnings per share. On average, equities research analysts expect that HCP will post $2.82 EPS for the current fiscal year.
In related news, insider Thomas D. Kirby sold 3,000 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $40.24, for a total value of $120,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darren A. Kowalske sold 2,250 shares of the 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 completion of the transaction, the insider now directly owns 9,793 shares of the company’s stock, valued at $383,885.60. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC increased its position 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 increased its position 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 position in HCP during the second quarter valued at approximately $142,000. Iowa State Bank purchased a new position in HCP during the second quarter valued at approximately $145,000. Finally, Advisory Services Network LLC increased its position in HCP by 29.2% in the second quarter. Advisory Services Network LLC now owns 4,252 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 961 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.
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.
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