BMO Capital Markets Reiterates “Hold” Rating for HCP, Inc. (HCP)
HCP, Inc. (NYSE:HCP)‘s stock had its “hold” rating reaffirmed by BMO Capital Markets in a research report issued on Wednesday. They currently have a $32.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price target suggests a potential upside of 6.07% from the stock’s current price.
HCP has been the topic of several other reports. Mizuho restated a “neutral” rating on shares of HCP in a research report on Wednesday, June 28th. Raymond James Financial, Inc. raised HCP from an “underperform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Wednesday, June 14th. BidaskClub lowered HCP from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $33.00 target price on shares of HCP in a research note on Tuesday, July 25th. Finally, UBS AG raised HCP from an “underperform” rating to an “outperform” rating in a research note on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.84.
HCP (NYSE:HCP) traded up 0.40% during midday trading on Wednesday, hitting $30.29. 1,470,755 shares of the stock were exchanged. HCP has a 1-year low of $27.61 and a 1-year high of $40.43. The company has a market capitalization of $14.20 billion, a P/E ratio of 20.65 and a beta of 0.38. The company’s 50 day moving average is $30.19 and its 200 day moving average is $31.15.
HCP (NYSE:HCP) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The company had revenue of $458.90 million for the quarter, compared to analysts’ expectations of $456.29 million. HCP had a net margin of 32.16% and a return on equity of 9.96%. HCP’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. Analysts predict that HCP will post $1.35 earnings per share for the current fiscal year.
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In other news, insider Thomas Klaritch sold 2,651 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.53, for a total transaction of $83,586.03. Following the completion of the sale, the insider now owns 176,830 shares of the company’s stock, valued at $5,575,449.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of HCP by 2.4% during the first quarter. Vanguard Group Inc. now owns 67,505,742 shares of the real estate investment trust’s stock valued at $2,111,579,000 after acquiring an additional 1,557,716 shares in the last quarter. BlackRock Inc. raised its holdings in shares of HCP by 1.3% during the second quarter. BlackRock Inc. now owns 46,580,421 shares of the real estate investment trust’s stock valued at $1,488,710,000 after acquiring an additional 599,578 shares in the last quarter. State Street Corp raised its holdings in shares of HCP by 0.3% during the second quarter. State Street Corp now owns 27,363,119 shares of the real estate investment trust’s stock valued at $874,524,000 after acquiring an additional 74,972 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of HCP by 2.3% during the second quarter. JPMorgan Chase & Co. now owns 23,442,708 shares of the real estate investment trust’s stock valued at $749,230,000 after acquiring an additional 521,915 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of HCP by 19.0% during the first quarter. Bank of New York Mellon Corp now owns 13,164,759 shares of the real estate investment trust’s stock valued at $411,794,000 after acquiring an additional 2,100,896 shares in the last quarter. 89.75% of the stock is owned by hedge funds and other institutional investors.
HCP Company Profile
HCP, Inc is a self-administered real estate investment trust. The Company invests in real estate serving the healthcare industry in the United States. The Company’s segments include senior housing triple-net (SH NNN), senior housing operating portfolio (SHOP), life science and medical office. Its senior housing facilities include independent living facilities, assisted living facilities, memory care facilities, care homes, and continuing care retirement communities.
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