Care Capital Properties Inc. (CCP) Sets New 52-Week Low After Analyst Downgrade
Shares of Care Capital Properties Inc. (NYSE:CCP) hit a new 52-week low during mid-day trading on Friday after Mizuho lowered their price target on the stock from $34.00 to $26.00. Mizuho currently has a buy rating on the stock. Care Capital Properties traded as low as $22.93 and last traded at $22.88, with a volume of 555,108 shares traded. The stock had previously closed at $23.05.
Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Care Capital Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Stephens started coverage on shares of Care Capital Properties in a research report on Wednesday, September 14th. They set an “overweight” rating and a $33.00 target price on the stock.
Several institutional investors have recently modified their holdings of CCP. UBS Group AG raised its position in shares of Care Capital Properties by 14.9% in the first quarter. UBS Group AG now owns 128,564 shares of the company’s stock worth $3,451,000 after buying an additional 16,673 shares during the period. Geode Capital Management LLC raised its position in shares of Care Capital Properties by 24.5% in the first quarter. Geode Capital Management LLC now owns 813,508 shares of the company’s stock worth $21,834,000 after buying an additional 160,019 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Care Capital Properties during the first quarter worth approximately $635,000. A.R.T. Advisors LLC raised its position in shares of Care Capital Properties by 3.9% in the first quarter. A.R.T. Advisors LLC now owns 31,900 shares of the company’s stock worth $856,000 after buying an additional 1,200 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Care Capital Properties during the first quarter worth approximately $892,000. 89.74% of the stock is currently owned by institutional investors and hedge funds.
The company has a market cap of $1.91 billion, a price-to-earnings ratio of 14.16 and a beta of 0.52. The company has a 50-day moving average price of $26.49 and a 200 day moving average price of $27.41.
Care Capital Properties (NYSE:CCP) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. Care Capital Properties had a net margin of 34.14% and a return on equity of 9.92%. During the same quarter in the previous year, the firm posted $0.84 earnings per share. On average, equities research analysts anticipate that Care Capital Properties Inc. will post $3.00 EPS for the current year.
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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