Jefferies Group LLC restated their hold rating on shares of HCP, Inc. (NYSE:HCP) in a research report released on Friday, May 12th. They currently have a $32.00 target price on the real estate investment trust’s stock.
Several other equities research analysts have also recently weighed in on the stock. Evercore ISI cut shares of HCP from an in-line rating to an underperform rating in a research report on Monday, April 24th. Mitsubishi UFJ Financial Group initiated coverage on HCP in a research note on Friday, April 21st. They set a hold rating and a $32.00 target price for the company. Mizuho downgraded HCP from a buy rating to a neutral rating and lowered their target price for the stock from $34.00 to $32.00 in a research note on Tuesday, April 11th. Bank of America Corporation raised HCP from a neutral rating to a buy rating and upped their price objective for the company from $33.25 to $35.00 in a research note on Monday, April 3rd. Finally, Morgan Stanley raised HCP from an underweight rating to an equal weight rating and set a $31.00 price objective for the company in a research note on Monday, March 20th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $33.18.
HCP (NYSE:HCP) traded up 1.06% during midday trading on Friday, hitting $32.51. 4,214,558 shares of the stock traded hands. The stock has a market cap of $15.23 billion, a PE ratio of 15.68 and a beta of 0.42. HCP has a 1-year low of $27.61 and a 1-year high of $36.82. The company has a 50-day moving average of $31.28 and a 200-day moving average of $30.80.
HCP (NYSE:HCP) last announced its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. HCP had a net margin of 41.38% and a return on equity of 12.39%. The company had revenue of $492.16 million during the quarter, compared to analysts’ expectations of $514.82 million. During the same quarter in the previous year, the business posted $0.69 earnings per share. HCP’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities analysts expect that HCP will post $1.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 23rd. Investors of record on Monday, May 8th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.55%. The ex-dividend date was Thursday, May 4th. HCP’s dividend payout ratio (DPR) is currently 72.20%.
In other HCP news, insider Thomas Klaritch sold 2,651 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.53, for a total value of $83,586.03. Following the completion of the transaction, the insider now owns 176,830 shares in the company, valued at approximately $5,575,449.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of HCP. Vanguard Group Inc. increased its stake in shares of HCP by 2.4% in the first quarter. Vanguard Group Inc. now owns 67,505,742 shares of the real estate investment trust’s stock worth $2,111,579,000 after buying an additional 1,557,716 shares during the period. BlackRock Inc. increased its stake in shares of HCP by 1,680.5% in the first quarter. BlackRock Inc. now owns 45,980,843 shares of the real estate investment trust’s stock worth $1,438,282,000 after buying an additional 43,398,323 shares during the period. JPMorgan Chase & Co. increased its stake in shares of HCP by 22.9% in the first quarter. JPMorgan Chase & Co. now owns 22,920,793 shares of the real estate investment trust’s stock worth $716,963,000 after buying an additional 4,264,935 shares during the period. Bank of New York Mellon Corp increased its stake in shares of HCP by 19.0% in the first quarter. Bank of New York Mellon Corp now owns 13,164,759 shares of the real estate investment trust’s stock worth $411,794,000 after buying an additional 2,100,896 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of HCP by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,348,782 shares of the real estate investment trust’s stock worth $198,587,000 after buying an additional 97,085 shares during the period. Institutional investors and hedge funds own 88.94% of the company’s stock.
HCP Company Profile
HCP, Inc is a self-administered real estate investment trust. The Company invests in real estate serving the healthcare industry in the United States. The Company’s segments include senior housing triple-net (SH NNN), senior housing operating portfolio (SHOP), life science and medical office. Its senior housing facilities include independent living facilities, assisted living facilities, memory care facilities, care homes, and continuing care retirement communities.
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