HCP, Inc. (NYSE:HCP) Declares Quarterly Dividend of $0.37
HCP, Inc. (NYSE:HCP) announced a quarterly dividend on Thursday, July 27th, RTT News reports. Stockholders of record on Monday, August 7th will be given a dividend of 0.37 per share by the real estate investment trust on Tuesday, August 22nd. This represents a $1.48 annualized dividend and a dividend yield of 4.64%.
HCP has decreased its dividend by an average of 0.1% annually over the last three years. HCP has a payout ratio of 76.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect HCP to earn $0.80 per share next year, which means the company may not be able to cover its $1.48 annual dividend with an expected future payout ratio of 185.0%.
HCP (HCP) traded down 0.25% during midday trading on Thursday, hitting $31.91. 3,071,787 shares of the stock traded hands. The stock has a market cap of $14.95 billion, a PE ratio of 15.39 and a beta of 0.37. The company has a 50-day moving average of $32.00 and a 200-day moving average of $31.28. HCP has a 1-year low of $27.61 and a 1-year high of $40.43.
HCP (NYSE:HCP) last issued its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. HCP had a net margin of 41.38% and a return on equity of 12.39%. The firm had revenue of $492.16 million during the quarter, compared to the consensus estimate of $514.82 million. During the same period in the prior year, the firm earned $0.69 EPS. The business’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts expect that HCP will post $1.35 EPS for the current fiscal year.
In other news, insider Thomas Klaritch sold 2,651 shares of HCP stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.53, for a total transaction of $83,586.03. Following the completion of the sale, the insider now owns 176,830 shares in the company, valued at approximately $5,575,449.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by insiders.
A number of brokerages have weighed in on HCP. UBS AG raised shares of HCP from an “underperform” rating to an “outperform” rating in a report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) downgraded shares of HCP from a “buy” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $32.00 in a report on Monday. Jefferies Group LLC reissued a “hold” rating and issued a $33.00 price target on shares of HCP in a report on Tuesday. BidaskClub downgraded shares of HCP from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $31.00 price objective on shares of HCP in a report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $33.42.
HCP, Inc is a self-administered real estate investment trust. The Company invests in real estate serving the healthcare industry in the United States. The Company’s segments include senior housing triple-net (SH NNN), senior housing operating portfolio (SHOP), life science and medical office. Its senior housing facilities include independent living facilities, assisted living facilities, memory care facilities, care homes, and continuing care retirement communities.
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