HCP Inc. (HCP) Cut to Buy at Vetr Inc.
Vetr lowered shares of HCP Inc. (NYSE:HCP) from a strong-buy rating to a buy rating in a research note published on Tuesday morning. They currently have $32.83 price objective on the real estate investment trust’s stock.
Several other brokerages have also commented on HCP. BTIG Research initiated coverage on shares of HCP in a research report on Thursday, August 25th. They set a neutral rating for the company. Zacks Investment Research raised shares of HCP from a hold rating to a buy rating and set a $41.00 price target for the company in a research report on Wednesday, October 5th. Bank of America Corp. raised shares of HCP from an underperform rating to a neutral rating and set a $38.50 price target for the company in a research report on Tuesday, October 4th. Wells Fargo & Co. reaffirmed a hold rating on shares of HCP in a research report on Sunday, September 4th. Finally, BMO Capital Markets reaffirmed a sell rating and set a $33.00 price target on shares of HCP in a research report on Tuesday, November 1st. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $34.27.
Shares of HCP (NYSE:HCP) opened at 28.76 on Tuesday. The stock’s market capitalization is $13.46 billion. HCP has a 52-week low of $22.87 and a 52-week high of $36.82. The stock’s 50 day moving average is $31.58 and its 200 day moving average is $32.91.
HCP (NYSE:HCP) last issued its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. HCP had a negative net margin of 1.16% and a negative return on equity of 0.32%. The firm earned $654.30 million during the quarter, compared to analyst estimates of $634.11 million. During the same quarter in the prior year, the business posted $0.79 earnings per share. Equities research analysts expect that HCP will post $2.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Thursday, November 10th will be paid a $0.37 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $1.48 annualized dividend and a dividend yield of 5.15%. HCP’s dividend payout ratio (DPR) is presently -1,850.00%.
In other HCP news, 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 transaction of $88,200.00. Following the transaction, the insider now directly owns 9,793 shares in the company, valued at approximately $383,885.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas D. Kirby sold 3,000 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $40.24, for a total transaction of $120,720.00. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors bought a new position in HCP during the third quarter worth approximately $193,545,000. State Street Corp increased its position in HCP by 12.0% in the second quarter. State Street Corp now owns 39,551,521 shares of the real estate investment trust’s stock worth $1,399,338,000 after buying an additional 4,237,902 shares during the period. Cohen & Steers Inc. increased its position in HCP by 9.7% in the second quarter. Cohen & Steers Inc. now owns 40,390,203 shares of the real estate investment trust’s stock worth $1,429,005,000 after buying an additional 3,565,515 shares during the period. Franklin Resources Inc. increased its position in HCP by 119.5% in the second quarter. Franklin Resources Inc. now owns 5,484,225 shares of the real estate investment trust’s stock worth $194,032,000 after buying an additional 2,986,095 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in HCP during the second quarter worth approximately $86,770,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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