Shares of Care Capital Properties, Inc. (NYSE:CCP) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $33.00.
Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded Care Capital Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. BidaskClub upgraded Care Capital Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Hilliard Lyons lowered Care Capital Properties from a “buy” rating to a “neutral” rating in a research report on Monday, May 8th. JMP Securities upgraded Care Capital Properties from an “underperform” rating to a “market perform” rating in a research report on Monday, May 8th. Finally, Mizuho reiterated a “neutral” rating on shares of Care Capital Properties in a report on Wednesday, June 28th.
A number of hedge funds and other institutional investors have recently bought and sold shares of CCP. BlackRock Inc. raised its position in Care Capital Properties by 5,251.5% in the first quarter. BlackRock Inc. now owns 9,272,684 shares of the financial services provider’s stock valued at $249,156,000 after buying an additional 9,099,410 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in Care Capital Properties during the second quarter valued at $66,233,000. JPMorgan Chase & Co. raised its position in Care Capital Properties by 814.3% in the second quarter. JPMorgan Chase & Co. now owns 1,225,876 shares of the financial services provider’s stock valued at $32,731,000 after buying an additional 1,091,796 shares in the last quarter. Bank of New York Mellon Corp raised its position in Care Capital Properties by 39.4% in the second quarter. Bank of New York Mellon Corp now owns 3,402,958 shares of the financial services provider’s stock valued at $90,858,000 after buying an additional 961,309 shares in the last quarter. Finally, Norges Bank acquired a new position in Care Capital Properties during the fourth quarter valued at $22,220,000. Hedge funds and other institutional investors own 87.15% of the company’s stock.
Shares of Care Capital Properties (CCP) traded down 1.71% during midday trading on Friday, hitting $23.59. The stock had a trading volume of 897,875 shares. Care Capital Properties has a 12-month low of $22.70 and a 12-month high of $31.56. The firm has a market cap of $1.98 billion, a PE ratio of 8.16 and a beta of 0.38. The firm has a 50-day moving average of $25.64 and a 200 day moving average of $26.00.
Care Capital Properties (NYSE:CCP) last posted its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.26. Care Capital Properties had a return on equity of 20.38% and a net margin of 65.25%. The business had revenue of $82.80 million for the quarter, compared to analyst estimates of $83.32 million. Care Capital Properties’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts expect that Care Capital Properties will post $2.05 earnings per share for the current year.
About Care Capital Properties
Care Capital Properties, Inc is a self-administered, self-managed real estate investment trust with a diversified portfolio of skilled nursing facilities (SNFs) and other healthcare assets operated by private regional and local care providers. The Company 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, utilities, repairs and taxes.
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