Zacks Reiterates Neutral Rating for Health Care REIT (HCN)
Health Care REIT (NYSE:HCN)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Wednesday, AR Network reports. They currently have a $65.00 target price on the stock. Zacks‘ price target would indicate a potential upside of 5.49% from the company’s current price.
Zacks‘ analyst wrote, “Health Care REIT is scheduled to release its third-quarter 2013 earnings results before the market opens on Nov 5. The company’s second-quarter 2013 normalized FFO per share came a cent ahead of the Zacks Consensus Estimate and escalated year over year. The improved results were primarily attributable to better-than-expected revenue growth. Alongside, the company registered decent same-store NOI. Moreover, the completion of the Sunrise Senior Living facility acquisition, the Revera deal in Canada and the Avery Healthcare investments in the UK are expected to further enhance the company’s high-quality senior housing portfolio and extend its reach in the high-barriers-to-entry affluent markets. Yet, intense competition in the healthcare industry and the company’s series of acquisitions are expected to raise the upfront operating expenses.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Health Care REIT in a research note to investors on Tuesday, September 17th. They set a “neutral” rating and a $61.00 price target on the stock. Separately, analysts at Cowen and Company cut their price target on shares of Health Care REIT from $65.00 to $58.00 in a research note to investors on Thursday, September 12th. They now have a “market perform” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Health Care REIT from $64.00 to $63.00 in a research note to investors on Tuesday, August 20th. They now have a “hold” rating on the stock. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $67.87.
Health Care REIT (NYSE:HCN) traded down 0.11% on Wednesday, hitting $61.55. 388,797 shares of the company’s stock traded hands. Health Care REIT has a 1-year low of $57.82 and a 1-year high of $80.07. The stock has a 50-day moving average of $61.99 and a 200-day moving average of $67.08. The company has a market cap of $17.624 billion and a price-to-earnings ratio of 90.22.
Health Care REIT (NYSE:HCN) last released its earnings data on Tuesday, August 6th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.92 by $0.01. The company had revenue of $682.13 million for the quarter, compared to the consensus estimate of $665.74 million. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 55.5% on a year-over-year basis. On average, analysts predict that Health Care REIT will post $3.78 earnings per share for the current fiscal year.
Health Care REIT, Inc is a real estate investment trust (NYSE:HCN).
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