Care Capital Properties Inc. (CCP) Given $34.00 Average Target Price by Analysts
Care Capital Properties Inc. (NYSE:CCP) has received a consensus broker rating score of 1.33 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company. Care Capital Properties’ rating score has improved by 11.3% in the last three months as a result of various analysts’ upgrades and downgrades.
Brokers have set a 12 month consensus price target of $34.00 for the company, according to Zacks. Zacks has also given Care Capital Properties an industry rank of 113 out of 265 based on the ratings given to related companies.
A number of equities research analysts recently commented on CCP shares. Zacks Investment Research upgraded shares of Care Capital Properties from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, September 13th. Mizuho upped their price target on shares of Care Capital Properties from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, August 12th. Finally, Stephens started coverage on shares of Care Capital Properties in a report on Wednesday, September 14th. They set an “overweight” rating and a $33.00 price target for the company.
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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of Care Capital Properties during the second quarter valued at approximately $102,000. LS Investment Advisors LLC raised its position in shares of Care Capital Properties by 73.6% in the second quarter. LS Investment Advisors LLC now owns 5,059 shares of the company’s stock valued at $133,000 after buying an additional 2,145 shares during the period. Bellwether Investment Group LLC bought a new position in shares of Care Capital Properties during the second quarter valued at approximately $145,000. WFG Advisors LP raised its position in shares of Care Capital Properties by 3.5% in the second quarter. WFG Advisors LP now owns 6,213 shares of the company’s stock valued at $163,000 after buying an additional 210 shares during the period. Finally, Hancock Holding Co. bought a new position in shares of Care Capital Properties during the second quarter valued at approximately $214,000. Institutional investors and hedge funds own 89.63% of the company’s stock.
Shares of Care Capital Properties (NYSE:CCP) traded up 0.26% on Wednesday, hitting $27.04. 155,807 shares of the stock were exchanged. The company has a 50-day moving average price of $28.48 and a 200 day moving average price of $27.52. The company has a market cap of $2.27 billion, a PE ratio of 16.80 and a beta of 0.43. Care Capital Properties has a 12 month low of $23.65 and a 12 month high of $34.55.
Care Capital Properties (NYSE:CCP) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.03. The firm earned $85.66 million during the quarter, compared to analyst estimates of $79.72 million. Care Capital Properties had a net margin of 39.69% and a return on equity of 11.18%. During the same period in the previous year, the business posted $0.87 EPS. Equities analysts forecast that Care Capital Properties will post $2.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.57 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $2.28 annualized dividend and a yield of 8.45%. Care Capital Properties’s dividend payout ratio (DPR) is presently 141.61%.
About Care Capital Properties
Care Capital Properties, Inc is a self-administered, self-managed real estate investment trust (REIT) with a diversified portfolio of skilled nursing facilities (SNFs) and other healthcare assets operated by private regional and local care providers. It leases its properties to unaffiliated tenants under long-term triple-net leases, pursuant to which the tenants are obligated to pay all property-related expenses, including maintenance, taxes, insurance and capital expenditures.
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