According to Zacks, “HCP’s current quarter funds from operations (FFO) per share estimate remained stable over the past 30 days. Recently, the company revealed pricing a $750 million offering of notes by its wholly owned subsidiary, Quality Care Properties, Inc. (QCP) in relation with the planned spin-off. Notably 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, 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.”
A number of other research analysts have also weighed in on the company. Morgan Stanley lowered HCP from an equal weight rating to an underweight rating and set a $32.00 target price for the company. in a report on Wednesday, June 22nd. Raymond James Financial Inc. started coverage on HCP in a report on Tuesday, July 26th. They set an underperform rating for the company. Mizuho reaffirmed a hold rating and set a $32.00 target price on shares of HCP in a report on Tuesday, July 12th. Jefferies Group reaffirmed a neutral rating on shares of HCP in a report on Wednesday, July 6th. Finally, Bank of America Corp. raised HCP from an underperform rating to a neutral rating and set a $38.50 target price for the company in a report on Tuesday, October 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $34.61.
HCP (NYSE:HCP) opened at 35.75 on Thursday. HCP has a 12-month low of $25.11 and a 12-month high of $40.43. The firm’s 50-day moving average is $38.22 and its 200 day moving average is $36.15. The company’s market cap is $16.72 billion.
HCP (NYSE:HCP) last posted its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The business earned $662.20 million during 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 company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, equities analysts expect that HCP will post $2.82 earnings per share for the current fiscal year.
In other HCP news, insider Kendall K. Young sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $39.46, for a total value of $355,140.00. Following the completion of the sale, the insider now owns 36,183 shares of the company’s stock, valued at $1,427,781.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jonathan M. Bergschneider sold 7,651 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $39.78, for a total value of $304,356.78. Following the completion of the sale, the executive vice president now directly owns 54,095 shares of the company’s stock, valued at approximately $2,151,899.10. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of HCP. Penserra Capital Management LLC raised its stake in shares of HCP by 1.2% in the second quarter. Penserra Capital Management LLC now owns 3,075 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 37 shares in the last quarter. Washington Trust Bank increased its stake in shares of HCP by 39.5% in the third quarter. Washington Trust Bank now owns 3,842 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 1,087 shares during the last quarter. Westbourne Investment Advisors Inc. bought a new stake in shares of HCP during the second quarter valued at $142,000. Iowa State Bank bought a new stake in shares of HCP during the second quarter valued at $145,000. Finally, Advisory Services Network LLC increased its stake in shares of HCP by 29.2% in the second quarter. Advisory Services Network LLC now owns 4,252 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 961 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.
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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