HCP, Inc. (HCP) Expected to Announce Quarterly Sales of $452.10 Million
Analysts expect that HCP, Inc. (NYSE:HCP) will announce $452.10 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for HCP’s earnings, with estimates ranging from $443.21 million to $459.20 million. HCP reported sales of $654.27 million in the same quarter last year, which indicates a negative year-over-year growth rate of 30.9%. The business is expected to report its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that HCP will report full-year sales of $452.10 million for the current financial year, with estimates ranging from $1.85 billion to $1.92 billion. For the next financial year, analysts expect that the company will post sales of $1.88 billion per share, with estimates ranging from $1.82 billion to $1.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow HCP.
HCP (NYSE:HCP) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. HCP had a net margin of 32.16% and a return on equity of 9.96%. The firm had revenue of $458.90 million during the quarter, compared to analysts’ expectations of $456.29 million. During the same quarter in the previous year, the company posted $0.71 EPS. HCP’s revenue was down 14.8% on a year-over-year basis.
A number of equities analysts have recently commented on the stock. UBS AG upgraded shares of HCP from an “underperform” rating to an “outperform” rating in a research note on Wednesday, June 14th. Stifel Nicolaus reiterated a “hold” rating and issued a $31.00 target price on shares of HCP in a research note on Friday, July 14th. BMO Capital Markets reiterated a “hold” rating and issued a $32.00 target price on shares of HCP in a research note on Wednesday, September 6th. BidaskClub downgraded shares of HCP from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Mizuho reiterated a “neutral” rating on shares of HCP in a research note on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $32.84.
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In other HCP news, insider Thomas Klaritch sold 2,651 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.53, for a total value of $83,586.03. Following the transaction, the insider now directly owns 176,830 shares of the company’s stock, valued at approximately $5,575,449.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC raised its holdings in HCP by 1.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 119,300 shares of the real estate investment trust’s stock valued at $3,813,000 after acquiring an additional 2,000 shares during the period. Toronto Dominion Bank raised its holdings in HCP by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 158,731 shares of the real estate investment trust’s stock valued at $5,072,000 after acquiring an additional 32,365 shares during the period. Cetera Investment Advisers bought a new position in HCP in the 2nd quarter valued at about $208,000. Advisory Services Network LLC raised its holdings in HCP by 4.1% in the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 150 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its holdings in HCP by 106.5% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 27,111 shares of the real estate investment trust’s stock valued at $867,000 after acquiring an additional 13,985 shares during the period. 89.75% of the stock is currently owned by hedge funds and other institutional investors.
HCP (NYSE:HCP) opened at 30.21 on Monday. HCP has a 52-week low of $27.61 and a 52-week high of $39.70. The company has a market cap of $14.17 billion, a PE ratio of 20.59 and a beta of 0.38. The company has a 50-day moving average of $30.03 and a 200 day moving average of $31.13.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 22nd. Shareholders of record on Monday, August 7th were issued a $0.37 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.48 annualized dividend and a yield of 4.90%. HCP’s dividend payout ratio is currently 102.07%.
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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