HCP Inc. (HCP) Upgraded to Hold at Vetr Inc.
HCP Inc. (NYSE:HCP) was upgraded by equities research analysts at Vetr from a “sell” rating to a “hold” rating in a research report issued on Thursday. The brokerage presently has a $36.58 price target on the real estate investment trust’s stock. Vetr‘s price objective would suggest a potential upside of 0.30% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Citigroup Inc. boosted their target price on HCP from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 24th. Argus reissued a “hold” rating on shares of HCP in a research note on Sunday, September 18th. Zacks Investment Research lowered HCP from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. Mizuho reissued a “hold” rating and issued a $32.00 target price on shares of HCP in a research note on Tuesday, July 12th. Finally, Morgan Stanley lowered HCP from an “equal weight” rating to an “underweight” rating and set a $32.00 target price for the company. in a research note on Wednesday, June 22nd. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $34.74.
Shares of HCP (NYSE:HCP) traded up 1.05% during mid-day trading on Thursday, reaching $36.47. The company had a trading volume of 2,851,180 shares. HCP has a 52-week low of $25.11 and a 52-week high of $40.43. The company’s market cap is $17.05 billion. The firm’s 50-day moving average price is $38.03 and its 200 day moving average price is $36.15.
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HCP (NYSE:HCP) last posted its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. HCP had a negative return on equity of 0.67% and a negative net margin of 2.52%. The firm earned $662.20 million during the quarter, compared to analysts’ expectations of $631.25 million. During the same period in the prior year, the business earned $0.79 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts expect that HCP will post $2.82 EPS for the current year.
In related news, insider Darren A. Kowalske sold 2,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $39.20, for a total value of $88,200.00. Following the sale, the insider now owns 9,793 shares in the company, valued at approximately $383,885.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas D. Kirby sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $40.24, for a total value of $120,720.00. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. W.G. Shaheen & Associates DBA Whitney & Co increased its stake in shares of HCP by 2.9% in the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 65,545 shares of the real estate investment trust’s stock valued at $2,487,000 after buying an additional 1,825 shares in the last quarter. MSI Financial Services Inc increased its stake in shares of HCP by 3.1% in the third quarter. MSI Financial Services Inc now owns 44,514 shares of the real estate investment trust’s stock valued at $1,689,000 after buying an additional 1,325 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of HCP by 9.5% in the third quarter. Nisa Investment Advisors LLC now owns 134,761 shares of the real estate investment trust’s stock valued at $5,114,000 after buying an additional 11,735 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of HCP by 3.1% in the third quarter. Capstone Asset Management Co. now owns 37,610 shares of the real estate investment trust’s stock valued at $1,427,000 after buying an additional 1,120 shares in the last quarter. Finally, Atria Investments LLC acquired a new stake in shares of HCP during the third quarter valued at approximately $271,000. Institutional investors 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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