HCP (NYSE:HCP) had its price objective cut by equities research analysts at Robert W. Baird from $29.00 to $26.00 in a report issued on Friday, Marketbeat reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s target price suggests a potential upside of 3.96% from the stock’s current price.
Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of HCP from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine lowered shares of HCP from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. JPMorgan Chase & Co. upgraded shares of HCP from a “neutral” rating to an “overweight” rating and set a $29.00 price target on the stock in a research report on Friday, December 15th. Morgan Stanley restated an “equal weight” rating and issued a $29.00 price target on shares of HCP in a research report on Thursday, December 14th. Finally, Stifel Nicolaus upgraded shares of HCP from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, December 5th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $30.36.
HCP (NYSE:HCP) traded down $0.25 during midday trading on Friday, reaching $25.01. 3,986,100 shares of the company’s stock traded hands, compared to its average volume of 3,680,000. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.17. The firm has a market cap of $11,730.00, a price-to-earnings ratio of 44.66, a price-to-earnings-growth ratio of 2.80 and a beta of 0.33. HCP has a 52 week low of $24.75 and a 52 week high of $33.67.
Several institutional investors have recently modified their holdings of HCP. Cohen & Steers Inc. boosted its position in shares of HCP by 26.6% during the 3rd quarter. Cohen & Steers Inc. now owns 35,762,597 shares of the real estate investment trust’s stock valued at $995,273,000 after acquiring an additional 7,524,081 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of HCP by 475.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,284,833 shares of the real estate investment trust’s stock valued at $119,248,000 after acquiring an additional 3,539,670 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of HCP by 15.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,243,041 shares of the real estate investment trust’s stock valued at $340,724,000 after acquiring an additional 1,632,319 shares in the last quarter. Royal Bank of Canada boosted its position in shares of HCP by 353.7% during the 2nd quarter. Royal Bank of Canada now owns 1,826,053 shares of the real estate investment trust’s stock valued at $58,362,000 after acquiring an additional 1,423,582 shares in the last quarter. Finally, Cbre Clarion Securities LLC lifted its holdings in HCP by 18.1% during the 2nd quarter. Cbre Clarion Securities LLC now owns 9,223,958 shares of the real estate investment trust’s stock valued at $294,798,000 after purchasing an additional 1,413,760 shares during the last quarter. Institutional investors and hedge funds own 89.88% of the company’s stock.
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About HCP
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.
