HCP Earns “Neutral” Rating from Zacks (HCP)
HCP (NYSE:HCP)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Wednesday. They currently have a $45.00 price objective on the stock. Zacks‘s price target would suggest a potential upside of 4.43% from the company’s current price.
Zacks’ analyst wrote, “HCP has extended its relationship with Brookdale Senior Living by creating a $1.2 billion continuing care retirement communities (CCRC) joint venture (JV) and amending previous Emeritus leases. This CCRC partnership with Brookdale offers a solid platform for expansion. The company’s second-quarter 2014 adjusted FFO per share came in line with the Zacks Consensus Estimate and up 4.2% from the year-ago quarter, thanks to a rise in revenue. The company also raised its full-year outlook. We believe that improving fundamentals in the healthcare REIT market, a well-balanced and diversified portfolio, along with strategic acquisitions and tie-ups, would place this company on the growth trajectory going forward. Nevertheless, cut-throat competition, dependence on governmental healthcare programs for a number of its tenants and operators and an expected increase in interest rate remain matters of concern. “
Shares of HCP (NYSE:HCP) traded up 0.46% during mid-day trading on Wednesday, hitting $43.2899. The stock had a trading volume of 751,013 shares. HCP has a 52 week low of $35.50 and a 52 week high of $44.51. The stock has a 50-day moving average of $42.04 and a 200-day moving average of $40.7. The company has a market cap of $19.862 billion and a price-to-earnings ratio of 19.64.
HCP (NYSE:HCP) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.75 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.75. The company had revenue of $536.12 million for the quarter, compared to the consensus estimate of $523.50 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that HCP will post $3.03 EPS for the current fiscal year.
In other HCP news, EVP Thomas Klaritch sold 2,925 shares of the company’s stock on the open market in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $42.74, for a total value of $125,014.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of HCP from $23.00 to $25.00 in a research note on Tuesday, August 5th. They now have an “outperform” rating on the stock. Separately, analysts at Mizuho initiated coverage on shares of HCP in a research note on Wednesday, July 23rd. They set a “buy” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of HCP from $45.00 to $47.00 in a research note on Tuesday, July 22nd. They now have a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $41.63.
HCP, Inc (NYSE:HCP) is a real estate investment trust (REIT).
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