HCP Inc. (HCP) Raised to “Hold” at Vetr Inc.
HCP Inc. (NYSE:HCP) was upgraded by stock analysts at Vetr from a “sell” rating to a “hold” rating in a note issued to investors on Thursday. The firm currently has a $36.58 target price on the real estate investment trust’s stock. Vetr‘s price target indicates a potential upside of 0.30% from the company’s current price.
Other research analysts also recently issued reports about the stock. BTIG Research started coverage on shares of HCP in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Zacks Investment Research downgraded shares of HCP from a “buy” rating to a “hold” rating in a research report on Monday, September 26th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of HCP in a research report on Sunday, September 4th. Bank of America Corp. raised shares of HCP from an “underperform” rating to a “neutral” rating and set a $38.50 target price on the stock in a research report on Tuesday, October 4th. Finally, Mizuho reaffirmed a “hold” rating and issued a $32.00 target price on shares of HCP in a research report on Tuesday, July 12th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $34.74.
HCP (NYSE:HCP) traded up 1.05% on Thursday, reaching $36.47. 2,851,180 shares of the company were exchanged. HCP has a 52 week low of $25.11 and a 52 week high of $40.43. The stock has a 50-day moving average price of $38.03 and a 200 day moving average price of $36.15. The stock’s market capitalization is $17.05 billion.
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HCP (NYSE:HCP) last announced its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $662.20 million for the quarter, compared to the consensus estimate of $631.25 million. During the same period in the prior year, the firm posted $0.79 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts forecast that HCP will post $2.82 earnings per share for the current year.
In other news, insider Thomas D. Kirby sold 3,000 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $40.24, for a total value of $120,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan M. Bergschneider sold 7,651 shares of the 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 completion of the transaction, the executive vice president now owns 54,095 shares of the company’s stock, valued at approximately $2,151,899.10. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC increased its position in HCP by 1.2% in the second quarter. Penserra Capital Management LLC now owns 3,075 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 37 shares during the period. Washington Trust Bank increased its position in HCP by 39.5% in the third quarter. Washington Trust Bank now owns 3,842 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 1,087 shares during the period. Westbourne Investment Advisors Inc. acquired a new position in HCP during the second quarter valued at $142,000. Iowa State Bank acquired a new position in HCP during the second quarter valued at $145,000. Finally, Advisory Services Network LLC increased its position in HCP by 29.2% in the second quarter. Advisory Services Network LLC now owns 4,252 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 961 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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