HCP Inc. (HCP) Lowered to Hold at Zacks Investment Research
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.”
Other analysts have also recently issued research reports about the stock. Argus reissued a hold rating on shares of HCP in a research note on Sunday, September 18th. Mizuho boosted their price objective on shares of 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. began coverage on shares of HCP in a research report on Tuesday, July 26th. They set an underperform rating on the stock. BMO Capital Markets reaffirmed a sell rating on shares of HCP in a research report on Monday, June 20th. Finally, Citigroup Inc. upped their price target on shares of HCP from $34.00 to $38.00 and gave the company a neutral rating in a research report on Wednesday, August 24th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company. HCP has an average rating of Hold and an average price target of $34.61.
Shares of HCP (NYSE:HCP) traded up 0.11% during mid-day trading on Thursday, reaching $35.99. The company had a trading volume of 1,558,309 shares. The stock has a 50 day moving average of $38.54 and a 200-day moving average of $36.04. The firm’s market capitalization is $16.83 billion. HCP has a one year low of $25.11 and a one year high of $40.43.
HCP (NYSE:HCP) last issued its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. HCP had a negative net margin of 2.52% and a negative return on equity of 0.67%. The company had revenue of $662.20 million for the quarter, compared to analysts’ expectations of $631.25 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. HCP’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts predict that HCP will post $2.82 EPS for the current year.
In other news, EVP Jonathan M. Bergschneider sold 7,651 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $39.78, for a total value of $304,356.78. Following the sale, the executive vice president now directly owns 54,095 shares in the company, valued at approximately $2,151,899.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darren A. Kowalske sold 2,250 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $39.20, for a total transaction of $88,200.00. Following the completion of the sale, the insider now owns 9,793 shares in the company, valued at $383,885.60. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in HCP. Genesee Valley Trust Co. boosted its stake in HCP by 0.4% in the second quarter. Genesee Valley Trust Co. now owns 6,940 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 30 shares in the last quarter. Penserra Capital Management LLC boosted its stake in 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 in the last quarter. FineMark National Bank & Trust boosted its stake in HCP by 0.4% in the second quarter. FineMark National Bank & Trust now owns 12,066 shares of the real estate investment trust’s stock worth $427,000 after buying an additional 48 shares in the last quarter. Alexandria Capital LLC boosted its stake in HCP by 0.9% in the second quarter. Alexandria Capital LLC now owns 8,869 shares of the real estate investment trust’s stock worth $314,000 after buying an additional 76 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in HCP by 1.2% in the second quarter. Silvercrest Asset Management Group LLC now owns 9,702 shares of the real estate investment trust’s stock worth $343,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.
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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