HCP Inc. (HCP) Sets New 52-Week High at $39.97
HCP Inc. (NYSE:HCP) hit a new 52-week high during trading on Tuesday . The company traded as high as $39.97 and last traded at $39.82, with a volume of 1,167,866 shares trading hands. The stock had previously closed at $39.42.
A number of equities research analysts recently commented on HCP shares. Zacks Investment Research raised shares of HCP from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Tuesday, July 5th. Jefferies Group raised shares of HCP from an “underperform” rating to a “hold” rating and increased their price objective for the company from $25.00 to $32.00 in a research note on Tuesday, May 10th. Argus reissued a “hold” rating on shares of HCP in a research note on Wednesday, June 15th. Mizuho reissued a “hold” rating and issued a $32.00 price objective on shares of HCP in a research note on Tuesday, July 12th. Finally, Citigroup Inc. raised their price target on shares of HCP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, May 16th. Seven analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. HCP has an average rating of “Hold” and a consensus price target of $34.29.
The stock’s market cap is $18.67 billion. The stock’s 50 day moving average price is $38.28 and its 200-day moving average price is $34.26.
HCP (NYSE:HCP) last issued its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. During the same period in the prior year, the business posted $0.79 EPS. The company earned $662.20 million during the quarter, compared to analysts’ expectations of $631.25 million. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts forecast that HCP Inc. will post $2.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Monday, August 8th will be paid a $0.575 dividend. The ex-dividend date is Thursday, August 4th. This represents a $2.30 dividend on an annualized basis and a yield of 5.83%.
A number of institutional investors recently modified their holdings of HCP. Eaton Vance Management boosted its position in shares of HCP by 12.1% in the fourth quarter. Eaton Vance Management now owns 39,907 shares of the real estate investment trust’s stock worth $1,526,000 after buying an additional 4,300 shares in the last quarter. Stephens Inc. AR boosted its position in shares of HCP by 3.7% in the fourth quarter. Stephens Inc. AR now owns 211,507 shares of the real estate investment trust’s stock worth $8,088,000 after buying an additional 7,592 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in HCP by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,839,233 shares of the real estate investment trust’s stock valued at $223,297,000 after buying an additional 78,249 shares during the period. KBC Group NV boosted its position in HCP by 2.2% in the fourth quarter. KBC Group NV now owns 143,526 shares of the real estate investment trust’s stock valued at $5,489,000 after buying an additional 3,069 shares during the period. Finally, BlackRock Advisors LLC boosted its position in HCP by 87.3% in the fourth quarter. BlackRock Advisors LLC now owns 523,529 shares of the real estate investment trust’s stock valued at $20,020,000 after buying an additional 243,985 shares during the period.
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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