According to Zacks, “HCP’s current quarter funds from operations (FFO) per share estimate remained unchanged over the past 30 days period. In a notable development, in May, its Board of Directors approved the spin-off of the HCR ManorCare’s (HCRMC) portfolio of Skilled Nursing Facility (SNF) and assisted living assets, and other skilled nursing assets, into an independent and publicly-traded REIT (SpinCo), creating more values for shareholders. Further, HCP stands to gain from its diverse portfolio, rising healthcare spending and an aging population. Also, an anticipated continuation of low-rate environment is an advantage for it, though its huge dependence on few geographic markets and cut-throat competition remain as concerns.”
Several other brokerages also recently commented on HCP. Argus reiterated a hold rating on shares of HCP in a research note on Sunday, September 18th. Mizuho lifted their target price on HCP from $32.00 to $37.00 and gave the stock a neutral rating in a research note on Wednesday, August 10th. Raymond James Financial Inc. started coverage on HCP in a research note on Tuesday, July 26th. They set an underperform rating for the company. BMO Capital Markets reiterated a sell rating on shares of HCP in a research note on Monday, June 20th. Finally, Barclays PLC downgraded HCP from an equal weight rating to an underweight rating and reduced their target price for the stock from $40.00 to $37.00 in a research note on Wednesday, June 1st. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. HCP presently has an average rating of Hold and an average price target of $33.93.
HCP (NYSE:HCP) traded down 1.21% on Monday, reaching $39.12. The company’s stock had a trading volume of 361,884 shares. HCP has a 12 month low of $25.11 and a 12 month high of $40.43. The company’s market cap is $18.29 billion. The company has a 50-day moving average price of $38.87 and a 200 day moving average price of $35.80.
HCP (NYSE:HCP) last posted its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The firm had revenue of $662.20 million for the quarter, compared to analyst estimates of $631.25 million. HCP had a negative return on equity of 0.67% and a negative net margin of 2.52%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, equities research analysts anticipate that HCP will post $2.83 EPS for the current fiscal year.
In other news, insider Thomas D. Kirby sold 3,000 shares of the business’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Darren A. Kowalske sold 2,250 shares of the business’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $39.20, for a total value of $88,200.00. Following the transaction, the insider now directly owns 9,793 shares of the company’s stock, valued at approximately $383,885.60. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
Several institutional investors have recently bought and sold shares of HCP. State Street Corp boosted its position in 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 worth $1,399,338,000 after buying an additional 4,237,902 shares during the period. 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 worth $1,429,005,000 after buying an additional 3,565,515 shares during the last quarter. Franklin Resources Inc. boosted 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 worth $194,032,000 after buying an additional 2,986,095 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of HCP during the second quarter worth about $86,770,000. Finally, 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 worth $2,295,461,000 after buying an additional 1,578,634 shares during the last quarter. 90.96% of the stock is owned by institutional investors.
HCP Company Profile
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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