HCP, Inc. (HCP) Issues Earnings Results, Beats Expectations By $0.02 EPS
HCP, Inc. (NYSE:HCP) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02, Bloomberg Earnings reports. HCP had a net margin of 27.31% and a return on equity of 8.85%. The firm had revenue of $454.00 million for the quarter, compared to the consensus estimate of $440.60 million. During the same period in the prior year, the firm posted $0.72 earnings per share. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. HCP updated its FY17 guidance to $1.92-1.96 EPS.
Shares of HCP (NYSE HCP) traded up $1.47 during midday trading on Friday, hitting $27.14. 4,215,912 shares of the stock were exchanged, compared to its average volume of 3,412,206. The company has a quick ratio of 1.68, a current ratio of 0.61 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 2.88 and a beta of 0.36.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Monday, November 6th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Friday, November 3rd. HCP’s dividend payout ratio (DPR) is 133.33%.
HCP has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of HCP from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Jefferies Group LLC reissued a “hold” rating and set a $33.00 price target on shares of HCP in a report on Tuesday, July 25th. BMO Capital Markets reissued a “hold” rating and set a $32.00 price target on shares of HCP in a report on Wednesday, September 6th. Stifel Nicolaus reaffirmed a “hold” rating and set a $30.00 price objective on shares of HCP in a report on Wednesday, October 4th. Finally, UBS AG downgraded shares of HCP from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $30.00 to $25.00 in a report on Monday, October 2nd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.98.
HCP Company Profile
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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