HCP (NYSE:HCP) was upgraded by research analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a $29.00 price objective on the real estate investment trust’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 8.09% from the stock’s current price.
A number of other research firms have also weighed in on HCP. BMO Capital Markets reissued a “hold” rating and set a $32.00 target price on shares of HCP in a report on Wednesday, September 6th. KeyCorp reaffirmed a “hold” rating on shares of HCP in a research note on Sunday, September 17th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 price objective on shares of HCP in a research note on Tuesday, August 22nd. Bank of America lowered shares of HCP from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $31.00 in a research note on Friday, September 22nd. Finally, Morgan Stanley reduced their price objective on shares of HCP from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Monday, September 25th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.78.
HCP (HCP) traded up $0.02 on Friday, reaching $26.83. 9,648,139 shares of the company’s stock were exchanged, compared to its average volume of 3,716,765. HCP has a 52-week low of $25.08 and a 52-week high of $33.67. 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 company has a market cap of $12,590.00, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 2.87 and a beta of 0.33.
Institutional investors have recently added to or reduced their stakes in the stock. Sun Life Financial INC lifted its position in shares of HCP by 42,675.0% during the 2nd quarter. Sun Life Financial INC now owns 3,422 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 3,414 shares during the period. Advisory Services Network LLC lifted its position in shares of HCP by 4.1% during 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. Fieldpoint Private Securities LLC acquired a new position in shares of HCP during the 3rd quarter valued at $147,000. ClariVest Asset Management LLC acquired a new position in shares of HCP during the 2nd quarter valued at $172,000. Finally, Penserra Capital Management LLC acquired a new position in shares of HCP during the 3rd quarter valued at $163,000. Institutional investors own 90.19% of the company’s stock.
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.
