HCP Inc. (HCP) Shares Gap Up to $37.44
Shares of HCP Inc. (NYSE:HCP) gapped up before the market opened on Tuesday . The stock had previously closed at $37.41, but opened at $37.44. HCP shares last traded at $37.76, with a volume of 1,216,099 shares traded.
A number of analysts have commented on the stock. Argus reaffirmed a “hold” rating on shares of HCP in a report on Sunday. Wells Fargo & Co. reissued a “hold” rating on shares of HCP in a research report on Sunday, September 4th. BTIG Research assumed coverage on shares of HCP in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Citigroup Inc. lifted their price target on shares of HCP from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 24th. Finally, Mizuho lifted their price target on shares of HCP from $32.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 10th. Seven investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.24.
The firm has a 50-day moving average of $38.84 and a 200-day moving average of $35.60. The stock’s market cap is $17.60 billion.
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HCP (NYSE:HCP) last released its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. HCP had a negative net margin of 2.52% and a negative return on equity of 0.67%. The firm had revenue of $662.20 million for the quarter, compared to analyst estimates of $631.25 million. During the same period last year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts predict that HCP Inc. will post $2.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Monday, August 8th were paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date of this dividend was Thursday, August 4th. HCP’s dividend payout ratio (DPR) is -1,533.33%.
In related news, insider Kendall K. Young sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $39.46, for a total transaction of $355,140.00. Following the transaction, the insider now directly owns 36,183 shares of the company’s stock, valued at $1,427,781.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan M. Bergschneider sold 7,651 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $39.78, for a total transaction of $304,356.78. Following the transaction, the executive vice president now directly owns 54,095 shares in the company, valued at $2,151,899.10. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCP. State Street Corp raised its position in HCP by 12.0% in the second quarter. State Street Corp now owns 39,551,521 shares of the real estate investment trust’s stock worth $1,399,338,000 after buying an additional 4,237,902 shares during the last quarter. Norges Bank purchased a new position in HCP during the fourth quarter worth $149,719,000. Cohen & Steers Inc. raised its position in HCP by 9.7% in the second quarter. Cohen & Steers Inc. now owns 40,390,203 shares of the real estate investment trust’s stock worth $1,429,005,000 after buying an additional 3,565,515 shares during the last quarter. Franklin Resources Inc. raised its position in HCP by 119.5% in the second quarter. Franklin Resources Inc. now owns 5,484,225 shares of the real estate investment trust’s stock worth $194,032,000 after buying an additional 2,986,095 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in HCP during the second quarter worth $86,770,000. 91.16% of the stock is currently owned by institutional investors.
HCP, Inc (HCP) is a self-administered real estate investment trust (REIT). The Company invests in real estate serving the healthcare industry in the United States. Its portfolio consists of investments in various healthcare segments: senior housing, post-acute/skilled nursing, life science, medical office and hospital.
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