Care Capital Properties Inc. (NYSE:CCP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $26.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 10.78% from the stock’s current price.

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. “

Several other analysts have also recently commented on the company. Mizuho lifted their price target on Care Capital Properties from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, August 12th. Stephens started coverage on Care Capital Properties in a report on Wednesday, September 14th. They issued an “overweight” rating and a $33.00 price target for the company.

Shares of Care Capital Properties (NYSE:CCP) opened at 23.47 on Tuesday. Care Capital Properties has a one year low of $22.70 and a one year high of $32.44. The firm has a market cap of $1.97 billion, a PE ratio of 16.66 and a beta of 0.52. The company has a 50-day moving average of $26.04 and a 200 day moving average of $27.34.

Care Capital Properties (NYSE:CCP) last announced its earnings results on Thursday, November 10th. The company reported $0.75 earnings per share 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 period in the prior year, the business posted $0.84 earnings per share. On average, equities research analysts expect that Care Capital Properties will post $3.04 EPS for the current fiscal year.

In other news, Director John L. Workman bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was acquired at an average price of $23.76 per share, for a total transaction of $237,600.00. Following the acquisition, the director now owns 22,466 shares of the company’s stock, valued at $533,792.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Douglas Crocker II bought 20,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were purchased at an average price of $23.40 per share, with a total value of $468,000.00. Following the acquisition, the director now directly owns 78,290 shares in the company, valued at approximately $1,831,986. The disclosure for this purchase can be found here. 1.70% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Care Capital Properties by 5.0% in the second quarter. Vanguard Group Inc. now owns 13,497,666 shares of the company’s stock worth $353,775,000 after buying an additional 640,290 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Care Capital Properties by 5.3% in the third quarter. BlackRock Fund Advisors now owns 3,709,120 shares of the company’s stock worth $105,710,000 after buying an additional 187,821 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Care Capital Properties by 1.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,586,363 shares of the company’s stock worth $93,999,000 after buying an additional 43,668 shares during the last quarter. State Street Corp boosted its stake in shares of Care Capital Properties by 3.9% in the second quarter. State Street Corp now owns 3,390,862 shares of the company’s stock worth $88,873,000 after buying an additional 128,597 shares during the last quarter. Finally, Shinko Asset Management Co. Ltd. boosted its stake in shares of Care Capital Properties by 0.5% in the second quarter. Shinko Asset Management Co. Ltd. now owns 2,210,487 shares of the company’s stock worth $57,937,000 after buying an additional 10,247 shares during the last quarter. Institutional investors and hedge funds own 90.99% of the company’s stock.

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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