Care Capital Properties Inc. (CCP) Releases Earnings Results, Beats Expectations By $0.05 EPS
Care Capital Properties Inc. (NYSE:CCP) announced its quarterly earnings results on Thursday. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Care Capital Properties had a net margin of 39.69% and a return on equity of 11.18%. During the same period in the prior year, the business posted $0.84 EPS.
Care Capital Properties (NYSE:CCP) opened at 24.31 on Thursday. Care Capital Properties has a 52 week low of $23.65 and a 52 week high of $32.44. The company has a market capitalization of $2.04 billion, a PE ratio of 15.10 and a beta of 0.52. The stock’s 50 day moving average is $26.80 and its 200 day moving average is $27.47.
Several institutional investors have recently bought and sold shares of CCP. Advisors Asset Management Inc. bought a new position in Care Capital Properties during the second quarter worth approximately $102,000. Meeder Asset Management Inc. acquired a new position in shares of Care Capital Properties during the third quarter valued at about $128,000. LS Investment Advisors LLC raised 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 during the period. Bellwether Investment Group LLC acquired a new position in shares of Care Capital Properties during the second quarter valued at about $145,000. Finally, WFG Advisors LP raised 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 during the period. 89.74% of the stock is currently owned by institutional investors.
CCP has been the subject of a number of research reports. Mizuho raised Care Capital Properties from a “neutral” rating to a “buy” rating and increased their target price for the stock from $27.00 to $32.00 in a research note on Monday, July 18th. Zacks Investment Research raised Care Capital Properties from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, September 13th. Finally, Stephens initiated coverage on shares of Care Capital Properties in a research note on Wednesday, September 14th. They set an “overweight” rating and a $33.00 price target for the company.
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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