HCP (HCP) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

HCP (NYSE:HCP) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01, Bloomberg Earnings reports. The company had revenue of $443.30 million for the quarter, compared to analyst estimates of $448.54 million. HCP had a return on equity of 8.85% and a net margin of 27.31%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. HCP updated its FY18 guidance to $1.77-1.83 EPS.

HCP (NYSE HCP) traded down $0.66 during midday trading on Wednesday, hitting $21.77. The company had a trading volume of 2,205,475 shares, compared to its average volume of 4,529,764. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.61 and a current ratio of 0.61. HCP has a 52-week low of $21.64 and a 52-week high of $33.67. The stock has a market capitalization of $10,719.13, a price-to-earnings ratio of 20.54, a P/E/G ratio of 4.13 and a beta of 0.27.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Thursday, February 15th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date of this dividend is Wednesday, February 14th. HCP’s dividend payout ratio is currently 133.33%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AMP Capital Investors Ltd grew its holdings in shares of HCP by 17.9% during the fourth quarter. AMP Capital Investors Ltd now owns 631,493 shares of the real estate investment trust’s stock worth $16,471,000 after buying an additional 96,017 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of HCP during the fourth quarter worth about $2,608,000. Thrivent Financial For Lutherans grew its holdings in shares of HCP by 3.5% during the fourth quarter. Thrivent Financial For Lutherans now owns 189,176 shares of the real estate investment trust’s stock worth $4,933,000 after buying an additional 6,324 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of HCP during the fourth quarter worth about $39,900,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of HCP during the fourth quarter worth about $12,374,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on the company. Jefferies Group reaffirmed a “hold” rating and set a $26.00 price objective on shares of HCP in a report on Tuesday. Zacks Investment Research lowered HCP from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. BMO Capital Markets set a $25.00 price objective on HCP and gave the stock a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. raised HCP from a “neutral” rating to an “overweight” rating and set a $29.00 price objective on the stock in a report on Friday, December 15th. Finally, Mizuho raised HCP from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Thursday, November 2nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $29.50.

TRADEMARK VIOLATION NOTICE: This news story was first published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/02/14/hcp-hcp-announces-quarterly-earnings-results-beats-expectations-by-0-31-eps.html.

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.

Earnings History for HCP (NYSE:HCP)

Receive News & Ratings for HCP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HCP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply