Care Capital Properties Inc. (CCP) Rating Lowered to Hold at Zacks Investment Research
Care Capital Properties Inc. (NYSE:CCP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Care Capital Properties, Inc. is a real estate investment trust which is engaged in the ownership, acquisition and leasing of skilled nursing facilities and healthcare assets operated by private regional and local care providers. The Company focuses on portfolio of triple-net leased properties focused on the post-acute sector and skilled nursing facilities. Care Capital Properties, Inc. is based in Chicago, United States. “
A number of other equities research analysts have also issued reports on the company. Mizuho upgraded Care Capital Properties from a “neutral” rating to a “buy” rating and increased their target price for the company from $27.00 to $32.00 in a research note on Monday, July 18th. Stephens initiated coverage on Care Capital Properties in a research note on Wednesday, September 14th. They issued an “overweight” rating and a $33.00 target price for the company.
Care Capital Properties (NYSE:CCP) opened at 24.66 on Tuesday. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 15.32 and a beta of 0.52. The company has a 50 day moving average of $26.80 and a 200-day moving average of $27.47. Care Capital Properties has a 12-month low of $23.65 and a 12-month high of $32.44.
Institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. purchased a new position in shares of Care Capital Properties during the second quarter valued at $102,000. Meeder Asset Management Inc. purchased a new position in shares of Care Capital Properties during the third quarter valued at $128,000. LS Investment Advisors LLC increased its position in shares of Care Capital Properties by 73.6% in the second quarter. LS Investment Advisors LLC now owns 5,059 shares of the company’s stock valued at $133,000 after buying an additional 2,145 shares in the last quarter. Bellwether Investment Group LLC purchased a new position in shares of Care Capital Properties during the second quarter valued at $145,000. Finally, WFG Advisors LP increased its position in shares of Care Capital Properties by 3.5% in the second quarter. WFG Advisors LP now owns 6,213 shares of the company’s stock valued at $163,000 after buying an additional 210 shares in the last quarter. 89.74% of the stock is currently owned by institutional investors and hedge funds.
About Care Capital Properties
Care Capital Properties, Inc is a self-administered, self-managed real estate investment trust (REIT) with a diversified portfolio of skilled nursing facilities (SNFs) and other healthcare assets operated by private regional and local care providers. It leases its properties to unaffiliated tenants under long-term triple-net leases, pursuant to which the tenants are obligated to pay all property-related expenses, including maintenance, taxes, insurance and capital expenditures.
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