Health Care REIT VP Unloads $65,900 in Stock (HCN)
Health Care REIT (NYSE:HCN) VP Michael A. Crabtree unloaded 1,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $65.90, for a total transaction of $65,900.00. Following the completion of the sale, the vice president now directly owns 50,268 shares in the company, valued at approximately $3,312,661. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
HCN has been the subject of a number of recent research reports. Analysts at LB Securities reiterated a “hold” rating on shares of Health Care REIT in a research note on Thursday, August 14th. They now have a $14.20 price target on the stock, up previously from $11.50. Separately, 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, August 14th. They now have a “hold” rating on the stock. Finally, 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, August 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $59.40.
Shares of Health Care REIT (NYSE:HCN) traded up 0.73% during mid-day trading on Wednesday, hitting $66.36. The stock had a trading volume of 1,625,842 shares. Health Care REIT has a 1-year low of $52.43 and a 1-year high of $66.76. The stock’s 50-day moving average is $63.86 and its 200-day moving average is $61.73. The company has a market cap of $20.475 billion and a P/E ratio of 124.07.
Health Care REIT (NYSE:HCN) last announced its earnings results on Friday, August 1st. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis. On average, analysts predict that Health Care REIT will post $4.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 20th. Stockholders of record on Monday, August 11th will be given a dividend of $0.795 per share. This represents a $3.18 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend is Thursday, August 7th.
Health Care REIT, Inc is a real estate investment trust (NYSE:HCN).
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