HCP, Inc. (NYSE:HCP) announced a quarterly dividend on Thursday, October 26th, RTT News reports. Stockholders of record on Monday, November 6th will be given a dividend of 0.37 per share by the real estate investment trust on Tuesday, November 21st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend is Friday, November 3rd.
HCP has decreased its dividend payment by an average of 0.1% annually over the last three years. HCP has a dividend payout ratio of 77.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect HCP to earn $1.93 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 76.7%.
HCP (NYSE:HCP) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. HCP had a net margin of 32.16% and a return on equity of 9.96%. The firm had revenue of $458.90 million during the quarter, compared to analyst estimates of $456.29 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. HCP’s revenue for the quarter was down 14.8% on a year-over-year basis.
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A number of brokerages recently weighed in on HCP. KeyCorp restated a “hold” rating on shares of HCP in a research report on Sunday, September 17th. BMO Capital Markets restated a “hold” rating and set a $28.00 target price on shares of HCP in a research report on Wednesday, October 18th. BidaskClub lowered shares of HCP from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research lowered shares of HCP from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Jefferies Group LLC restated a “hold” rating and set a $33.00 target price on shares of HCP in a research report on Tuesday, July 25th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the stock. HCP has an average rating of “Hold” and a consensus target price of $30.98.
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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