Investors Buy Shares of HCP Inc. (HCP) on Weakness
Traders purchased shares of HCP Inc. (NYSE:HCP) on weakness during trading hours on Tuesday. $39.78 million flowed into the stock on the tick-up and $16.16 million flowed out of the stock on the tick-down, for a money net flow of $23.62 million into the stock. Of all companies tracked, HCP had the 17th highest net in-flow for the day. HCP traded down ($0.26) for the day and closed at $38.82
Several brokerages have weighed in on HCP. Raymond James Financial Inc. began coverage on HCP in a research report on Tuesday. They issued an “underperform” rating on the stock. Mizuho reissued a “hold” rating and set a $32.00 price objective on shares of HCP in a report on Tuesday, July 12th. Goldman Sachs Group Inc. raised HCP from a “sell” rating to a “neutral” rating and increased their price objective for the company from $26.00 to $36.00 in a report on Friday, July 8th. Jefferies Group reissued a “neutral” rating on shares of HCP in a report on Wednesday, July 6th. Finally, Zacks Investment Research raised HCP from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Tuesday, July 5th. Seven analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. HCP presently has an average rating of “Hold” and an average price target of $33.97.
The company has a 50 day moving average price of $35.87 and a 200 day moving average price of $33.84. The stock’s market capitalization is $18.13 billion.
HCP (NYSE:HCP) last released its earnings results on Monday, May 9th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.69. During the same quarter in the previous year, the company posted $0.79 EPS. The company had revenue of $640.80 million for the quarter, compared to the consensus estimate of $621.93 million. The business’s revenue was up 4.9% on a year-over-year basis. Analysts expect that HCP Inc. will post $2.78 earnings per share for the current fiscal year.
A number of hedge funds recently added to or reduced their stakes in the company. GAM Holding AG raised its stake in HCP by 34.1% in the fourth quarter. GAM Holding AG now owns 29,758 shares of the real estate investment trust’s stock valued at $1,138,000 after buying an additional 7,573 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in HCP by 2.2% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,384 shares of the real estate investment trust’s stock valued at $1,162,000 after buying an additional 663 shares during the last quarter. Eaton Vance Management raised its stake in HCP by 12.1% in the fourth quarter. Eaton Vance Management now owns 39,907 shares of the real estate investment trust’s stock valued at $1,526,000 after buying an additional 4,300 shares during the last quarter. Parsons Capital Management Inc. RI raised its stake in HCP by 1.8% in the fourth quarter. Parsons Capital Management Inc. RI now owns 41,719 shares of the real estate investment trust’s stock valued at $1,595,000 after buying an additional 730 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC bought a new stake in HCP during the fourth quarter valued at about $3,131,000.
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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