Health Care REIT’s Hold Rating Reaffirmed at LB Securities (HCN)
Health Care REIT (NYSE:HCN)‘s stock had its “hold” rating reiterated by research analysts at LB Securities in a report released on Thursday. They currently have a $14.20 price target on the stock, up from their previous price target of $11.50. LB Securities’ price target points to a potential downside of 78.14% from the company’s current price.
A number of other analysts have also recently weighed in on HCN. Analysts at Deutsche Bank raised their price target on shares of Health Care REIT from $58.00 to $60.00 in a research note on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Health Care REIT from $68.00 to $70.00 in a research note on Thursday. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Health Care REIT in a research note on Wednesday. They now have a $68.00 price target on the stock, down previously from $70.00. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $59.40.
Health Care REIT (NYSE:HCN) traded up 1.34% during mid-day trading on Thursday, hitting $65.8201. The stock had a trading volume of 810,246 shares. Health Care REIT has a one year low of $52.43 and a one year high of $66.76. The stock has a 50-day moving average of $63.53 and a 200-day moving average of $61.44. The company has a market cap of $20.308 billion and a price-to-earnings ratio of 122.32.
Health Care REIT (NYSE:HCN) last posted its quarterly earnings results on Friday, August 1st. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.04. The company had revenue of $826.45 million for the quarter, compared to the consensus estimate of $807.17 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. Analysts expect that Health Care REIT will post $4.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, August 20th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.795 per share. This represents a $3.18 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Thursday, August 7th.
In other Health Care REIT news, EVP Charles J. Herman, Jr. sold 1,000 shares of the stock on the open market in a transaction dated Monday, August 11th. The shares were sold at an average price of $63.28, for a total value of $63,280.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Health Care REIT, Inc is a real estate investment trust (NYSE:HCN).
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