Health Care REIT Given New $62.00 Price Target at Cowen and Company (HCN)
Research analysts at Cowen and Company upped their target price on shares of Health Care REIT (NYSE:HCN) from $60.00 to $62.00 in a report released on Friday. Cowen and Company’s price target would suggest a potential downside of 2.22% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at TheStreet upgraded shares of Health Care REIT from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Separately, analysts at Stifel Nicolaus raised their price target on shares of Health Care REIT from $65.00 to $67.00 in a research note on Friday, May 9th. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Health Care REIT from $63.00 to $71.00 in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $64.46.
In other Health Care REIT news, Director Timothy J. Naughton bought 2,400 shares of Health Care REIT stock on the open market in a transaction that occurred on Tuesday, June 17th. The stock was purchased at an average cost of $62.34 per share, for a total transaction of $149,616.00. The purchase was disclosed in a filing with the SEC, which is available at this link.
Shares of Health Care REIT (NYSE:HCN) traded up 0.60% during mid-day trading on Friday, hitting $63.41. The stock had a trading volume of 5,278,961 shares. Health Care REIT has a 1-year low of $52.43 and a 1-year high of $68.79. The stock has a 50-day moving average of $63.61 and a 200-day moving average of $59.07. The company has a market cap of $18.481 billion and a price-to-earnings ratio of 252.12.
Health Care REIT (NYSE:HCN) last released its earnings data on Thursday, May 8th. The company reported $1.00 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.98 by $0.02. The company had revenue of $801.80 million for the quarter, compared to the consensus estimate of $796.68 million. During the same quarter last year, the company posted $0.91 earnings per share. Health Care REIT’s revenue was up 27.3% compared to the same quarter last year. On average, analysts predict that Health Care REIT will post $4.07 earnings per share for the current fiscal year.
Health Care REIT, Inc is a real estate investment trust (NYSE:HCN).
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