Morgan Stanley Cuts HCP, Inc. (HCP) Price Target to $29.00
HCP, Inc. (NYSE:HCP) had its target price reduced by Morgan Stanley from $31.00 to $29.00 in a research report report published on Monday morning. They currently have an equal weight rating on the real estate investment trust’s stock.
Several other equities analysts have also commented on HCP. UBS AG upgraded HCP from an underperform rating to an outperform rating in a research report on Wednesday, June 14th. Stifel Nicolaus reiterated a hold rating and set a $31.00 price objective on shares of HCP in a research report on Friday, July 14th. KeyCorp reiterated a hold rating on shares of HCP in a research report on Sunday, September 17th. BidaskClub lowered HCP from a hold rating to a sell rating in a research report on Thursday, July 27th. Finally, Bank of America Corporation lowered HCP from a buy rating to a neutral rating and reduced their price objective for the company from $33.00 to $31.00 in a research report on Friday, September 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $32.41.
HCP (NYSE HCP) opened at 27.66 on Monday. The firm has a 50-day moving average price of $29.61 and a 200-day moving average price of $30.98. The company has a market cap of $12.97 billion, a PE ratio of 18.85 and a beta of 0.38. HCP has a 52-week low of $27.47 and a 52-week high of $36.16.
HCP (NYSE:HCP) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. The firm had revenue of $458.90 million for the quarter, compared to analyst estimates of $456.29 million. HCP had a return on equity of 9.96% and a net margin of 32.16%. The company’s revenue was down 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 EPS. On average, analysts forecast that HCP will post $1.35 EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in HCP by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 67,505,742 shares of the real estate investment trust’s stock worth $2,111,579,000 after buying an additional 1,557,716 shares during the period. BlackRock Inc. lifted its holdings in HCP by 1.3% in the 2nd quarter. BlackRock Inc. now owns 46,580,421 shares of the real estate investment trust’s stock worth $1,488,710,000 after buying an additional 599,578 shares during the period. State Street Corp lifted its holdings in HCP by 0.3% in the 2nd quarter. State Street Corp now owns 27,363,119 shares of the real estate investment trust’s stock worth $874,524,000 after buying an additional 74,972 shares during the period. JPMorgan Chase & Co. lifted its holdings in HCP by 2.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 23,442,708 shares of the real estate investment trust’s stock worth $749,230,000 after buying an additional 521,915 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in HCP by 6.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 10,610,722 shares of the real estate investment trust’s stock worth $339,119,000 after buying an additional 687,228 shares during the period. Institutional investors and hedge funds own 89.60% of the company’s stock.
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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