HCP Inc. (HCP) Rating Lowered to Hold at Zacks Investment Research
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 equities research analysts also recently commented on the company. Morgan Stanley downgraded HCP from an equal weight rating to an underweight rating and set a $32.00 price objective for the company. in a report on Wednesday, June 22nd. Raymond James Financial Inc. began coverage on HCP in a report on Tuesday, July 26th. They set an underperform rating for the company. Mizuho reiterated a hold rating and set a $32.00 price target on shares of HCP in a report on Tuesday, July 12th. Jefferies Group reiterated a neutral rating on shares of HCP in a report on Wednesday, July 6th. Finally, BMO Capital Markets reiterated a sell rating on shares of HCP in a report on Monday, June 20th. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $33.93.
Shares of HCP (NYSE:HCP) opened at 38.54 on Monday. HCP has a one year low of $25.11 and a one year high of $40.43. The firm’s 50-day moving average price is $38.86 and its 200 day moving average price is $35.89. The firm’s market cap is $18.02 billion.
HCP (NYSE:HCP) last released its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The firm earned $662.20 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. Analysts predict that HCP will post $2.83 EPS for the current year.
In related news, insider Thomas D. Kirby sold 3,000 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $40.24, for a total transaction of $120,720.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Darren A. Kowalske sold 2,250 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $39.20, for a total value of $88,200.00. Following the sale, the insider now directly owns 9,793 shares in the company, valued at approximately $383,885.60. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC boosted 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 worth $109,000 after buying an additional 37 shares during the period. Westbourne Investment Advisors Inc. bought a new stake in shares of HCP during the second quarter worth about $142,000. Iowa State Bank bought a new stake in shares of HCP during the second quarter worth about $145,000. Advisory Services Network LLC boosted 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 worth $150,000 after buying an additional 961 shares during the period. Finally, Checchi Capital Advisers LLC boosted its stake in shares of HCP by 3.9% in the second quarter. Checchi Capital Advisers LLC now owns 5,288 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 200 shares during the period. 90.96% of the stock is currently 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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