Zacks Investment Research Lowers HCP, Inc. (HCP) to Sell
Zacks Investment Research downgraded shares of HCP, Inc. (NYSE:HCP) from a hold rating to a sell rating in a report issued on Tuesday morning.
According to Zacks, “Shares of HCP have underperformed the industry year to date. Moreover, the stock has seen the Zacks Consensus Estimate for funds from operations (FFO) per share for third-quarter 2017 and full-year 2018 being revised downward in a month’s time. Softness in the senior housing fundamentals, amid new supply is anticipated to thwart the company’s pricing power and occupancy levels. Moreover, geographical concentration of assets and hike in interest rate remain concerns. Though the company has opted for huge asset dispositions, the earning dilution impact cannot be bypassed. Nonetheless, this healthcare REIT is poised to gain from its diverse and high-quality portfolio, increasing healthcare spending and an aging population.”
HCP has been the subject of several other reports. Jefferies Group LLC reaffirmed a hold rating and set a $33.00 target price on shares of HCP in a report on Tuesday, July 25th. BMO Capital Markets reaffirmed a hold rating and set a $32.00 target price on shares of HCP in a report on Wednesday, September 6th. Raymond James Financial, Inc. raised HCP from an underperform rating to an outperform rating and set a $35.00 price target on the stock in a research report on Wednesday, June 14th. Royal Bank Of Canada reissued a hold rating and set a $31.00 price target on shares of HCP in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus reissued a hold rating and set a $30.00 price target on shares of HCP in a research report on Tuesday, August 22nd. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $31.27.
HCP (NYSE HCP) traded down 0.88% on Tuesday, hitting $26.90. The stock had a trading volume of 2,124,829 shares. The company has a market cap of $12.62 billion, a PE ratio of 18.34 and a beta of 0.38. HCP has a one year low of $26.47 and a one year high of $34.02. The stock has a 50-day moving average of $28.96 and a 200-day moving average of $30.76.
HCP (NYSE:HCP) last announced its earnings results 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. HCP had a return on equity of 9.96% and a net margin of 32.16%. The business had revenue of $458.90 million during the quarter, compared to the consensus estimate of $456.29 million. During the same period in the prior year, the business posted $0.71 earnings per share. HCP’s revenue was down 14.8% compared to the same quarter last year. Equities analysts expect that HCP will post $1.35 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of HCP. BlackRock Inc. increased its position in HCP by 1,680.5% in the 1st quarter. BlackRock Inc. now owns 45,980,843 shares of the real estate investment trust’s stock worth $1,438,282,000 after purchasing an additional 43,398,323 shares during the last quarter. Vanguard Group Inc. increased its position 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 purchasing an additional 1,557,716 shares during the last quarter. Morgan Stanley increased its position in HCP by 108.0% in the 1st quarter. Morgan Stanley now owns 2,873,563 shares of the real estate investment trust’s stock worth $89,886,000 after purchasing an additional 1,492,099 shares during the last quarter. Royal Bank of Canada increased its position in HCP by 353.7% in the 2nd quarter. Royal Bank of Canada now owns 1,826,053 shares of the real estate investment trust’s stock worth $58,362,000 after purchasing an additional 1,423,582 shares during the last quarter. Finally, Cbre Clarion Securities LLC increased its position in HCP by 18.1% in the 2nd quarter. Cbre Clarion Securities LLC now owns 9,223,958 shares of the real estate investment trust’s stock worth $294,798,000 after purchasing an additional 1,413,760 shares during the last quarter. 89.60% of the stock is currently owned by 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for HCP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HCP Inc. and related stocks with our FREE daily email newsletter.