HCP Inc. (HCP) Upgraded by Mizuho to “Buy”
Mizuho upgraded shares of HCP Inc. (NYSE:HCP) from a neutral rating to a buy rating in a report published on Monday morning. The brokerage currently has $32.00 target price on the real estate investment trust’s stock, up from their previous target price of $31.00.
HCP has been the subject of several other research reports. Argus restated a hold rating on shares of HCP in a report on Sunday, September 18th. RBC Capital Markets upgraded HCP from an underperform rating to a sector perform rating and decreased their price objective for the company from $35.00 to $30.00 in a report on Friday, November 4th. Raymond James Financial Inc. started coverage on HCP in a report on Tuesday, July 26th. They issued an underperform rating for the company. Royal Bank Of Canada upgraded HCP from an underperform rating to a sector perform rating and decreased their price objective for the company from $35.00 to $30.00 in a report on Friday, November 4th. Finally, Vetr upgraded HCP from a buy rating to a strong-buy rating and set a $32.83 price objective for the company in a report on Monday. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $34.33.
HCP (NYSE:HCP) traded up 0.192% during trading on Monday, reaching $28.725. The company’s stock had a trading volume of 601,192 shares. HCP has a 52-week low of $22.87 and a 52-week high of $36.82. The stock’s market cap is $13.44 billion. The firm’s 50-day moving average is $31.23 and its 200-day moving average is $32.88.
HCP (NYSE:HCP) last released its earnings results on Tuesday, November 1st. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. The firm earned $654.30 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $0.79 EPS. Equities research analysts forecast that HCP will post $2.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Thursday, November 10th will be issued a $0.37 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $1.48 annualized dividend and a yield of 5.16%. HCP’s payout ratio is -1,850.00%.
In related news, insider Thomas D. Kirby sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $40.24, for a total value of $120,720.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kendall K. Young sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $39.46, for a total transaction of $355,140.00. Following the completion of the transaction, the insider now owns 36,183 shares in the company, valued at approximately $1,427,781.18. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors purchased a new position in HCP during the third quarter valued at about $193,545,000. State Street Corp raised 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. Cohen & Steers Inc. raised 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. Franklin Resources Inc. raised its position in shares of 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 valued at $194,032,000 after buying an additional 2,986,095 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in shares of HCP during the second quarter valued at $86,770,000. Institutional investors and hedge funds own 91.72% 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.
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