Vetr Inc. Upgrades HCP Inc. (HCP) to “Strong-Buy”
HCP Inc. (NYSE:HCP) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The firm presently has a $32.83 price target on the real estate investment trust’s stock. Vetr‘s target price points to a potential upside of 14.47% from the stock’s current price.
A number of other equities research analysts have also issued reports on HCP. Argus reaffirmed a “hold” rating on shares of HCP in a research report on Sunday, September 18th. Wells Fargo & Co. reissued a “hold” rating on shares of HCP in a research report on Sunday, September 4th. Mizuho cut their target price on HCP from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 2nd. RBC Capital Markets raised HCP from an “underperform” rating to a “sector perform” rating and cut their target price for the stock from $35.00 to $30.00 in a research report on Friday, November 4th. Finally, BMO Capital Markets reissued a “sell” rating and set a $33.00 target price on shares of HCP in a research report on Tuesday, November 1st. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.27.
HCP (NYSE:HCP) opened at 28.68 on Monday. The firm’s market capitalization is $13.42 billion. The firm has a 50-day moving average price of $32.30 and a 200-day moving average price of $32.96. HCP has a one year low of $22.87 and a one year high of $36.82.
HCP (NYSE:HCP) last posted its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $654.30 million for the quarter, compared to analyst estimates of $634.11 million. HCP had a negative return on equity of 0.32% and a negative net margin of 1.16%. During the same quarter last year, the company earned $0.79 EPS. Equities analysts anticipate that HCP will post $2.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Investors 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 dividend on an annualized basis and a dividend yield of 5.16%. HCP’s dividend payout ratio (DPR) is presently -1,850.00%.
In related news, insider Thomas D. Kirby sold 3,000 shares of HCP stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $40.24, for a total transaction of $120,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kendall K. Young sold 9,000 shares of HCP stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $39.46, for a total value of $355,140.00. Following the transaction, the insider now directly owns 36,183 shares of the company’s stock, valued at $1,427,781.18. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of HCP. Vanguard Group Inc. boosted its position in shares of HCP by 2.5% in the second quarter. Vanguard Group Inc. now owns 64,880,191 shares of the real estate investment trust’s stock valued at $2,295,461,000 after buying an additional 1,578,634 shares in the last quarter. Cohen & Steers Inc. boosted its position in shares of 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 valued at $1,429,005,000 after buying an additional 3,565,515 shares in the last quarter. State Street Corp boosted its position in shares of 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 valued at $1,399,338,000 after buying an additional 4,237,902 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of HCP by 8.0% in the second quarter. Daiwa Securities Group Inc. now owns 16,604,480 shares of the real estate investment trust’s stock valued at $587,467,000 after buying an additional 1,223,911 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in shares of HCP by 4.3% in the third quarter. BlackRock Fund Advisors now owns 14,778,869 shares of the real estate investment trust’s stock valued at $560,858,000 after buying an additional 611,560 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.
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.
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