HCP Inc. (HCP) Sets New 52-Week High at $39.97
Shares of HCP Inc. (NYSE:HCP) reached a new 52-week high on Tuesday . The stock 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 analysts have commented on HCP shares. Argus restated a “hold” rating on shares of HCP in a research note on Wednesday, June 15th. BMO Capital Markets restated a “sell” rating on shares of HCP in a research note on Tuesday, May 10th. Goldman Sachs Group Inc. upgraded shares of HCP from a “sell” rating to a “neutral” rating and boosted their price target for the company from $26.00 to $36.00 in a research note on Friday, July 8th. Jefferies Group restated a “neutral” rating on shares of HCP in a research note on Wednesday, July 6th. Finally, Citigroup Inc. boosted their price target on shares of HCP from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, May 16th. Seven research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $34.54.
The firm’s market cap is $18.45 billion. The company’s 50 day moving average is $38.42 and its 200-day moving average is $34.33.
HCP (NYSE:HCP) last released its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The company had revenue of $662.20 million for the quarter, compared to the consensus estimate of $631.25 million. During the same period in the prior year, the firm posted $0.79 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts anticipate that HCP Inc. will post $2.82 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Monday, August 8th were given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Thursday, August 4th.
In other news, EVP Jonathan M. Bergschneider sold 7,651 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $39.78, for a total transaction of $304,356.78. Following the transaction, the executive vice president now owns 54,095 shares of the company’s stock, valued at approximately $2,151,899.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
A number of institutional investors have made changes to their positions in the stock. Schwab Charles Investment Management Inc. increased its position in shares of HCP by 11.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,719,209 shares of the real estate investment trust’s stock valued at $103,983,000 after buying an additional 272,127 shares during the period. BlackRock Advisors LLC increased its position in shares of 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. KBC Group NV increased its position in shares of 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. Dimensional Fund Advisors LP increased its position in shares of 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. Finally, Eaton Vance Management increased 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 valued at $1,526,000 after buying an additional 4,300 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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