Care Capital Properties Inc. (CCP) Stake Boosted by Principal Financial Group Inc.
Principal Financial Group Inc. raised its position in Care Capital Properties Inc. (NYSE:CCP) by 60.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,013 shares of the company’s stock after buying an additional 185,078 shares during the period. Principal Financial Group Inc. owned 0.58% of Care Capital Properties worth $12,869,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CCP. Advisors Asset Management Inc. purchased a new stake in shares of Care Capital Properties during the second quarter valued at about $102,000. LS Investment Advisors LLC raised its stake in shares of Care Capital Properties by 73.6% in the second quarter. LS Investment Advisors LLC now owns 5,059 shares of the company’s stock valued at $133,000 after buying an additional 2,145 shares during the last quarter. Hancock Holding Co. purchased a new stake in shares of Care Capital Properties during the second quarter valued at about $214,000. Commonwealth Equity Services Inc purchased a new stake in shares of Care Capital Properties during the second quarter valued at about $216,000. Finally, IBM Retirement Fund raised its stake in shares of Care Capital Properties by 1.9% in the second quarter. IBM Retirement Fund now owns 8,469 shares of the company’s stock valued at $222,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.
Shares of Care Capital Properties Inc. (NYSE:CCP) opened at 26.53 on Tuesday. The company’s 50 day moving average price is $28.95 and its 200-day moving average price is $27.51. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 16.48 and a beta of 0.43. Care Capital Properties Inc. has a 1-year low of $23.65 and a 1-year high of $34.55.
Care Capital Properties (NYSE:CCP) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.03. The company had revenue of $85.66 million for the quarter, compared to the consensus estimate of $79.72 million. Care Capital Properties had a return on equity of 11.18% and a net margin of 39.69%. During the same quarter in the prior year, the business posted $0.87 EPS. On average, equities analysts forecast that Care Capital Properties Inc. will post $2.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.57 per share. The ex-dividend date was Wednesday, September 14th. This represents a $2.28 annualized dividend and a yield of 8.59%. Care Capital Properties’s dividend payout ratio is 141.61%.
Several analysts have issued reports on the company. Mizuho upgraded Care Capital Properties from a “neutral” rating to a “buy” rating and boosted their target price for the company from $27.00 to $32.00 in a research note on Monday, July 18th. Zacks Investment Research upgraded Care Capital Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Finally, Stephens assumed coverage on Care Capital Properties in a research note on Wednesday, September 14th. They issued an “overweight” rating and a $33.00 target price on the stock.
About Care Capital Properties
Care Capital Properties, Inc is a self-administered, self-managed real estate investment trust (REIT) with a diversified portfolio of skilled nursing facilities (SNFs) and other healthcare assets operated by private regional and local care providers. It leases its properties to unaffiliated tenants under long-term triple-net leases, pursuant to which the tenants are obligated to pay all property-related expenses, including maintenance, taxes, insurance and capital expenditures.
Receive News & Ratings for Care Capital Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Care Capital Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.