HCP, Inc. (NYSE:HCP) has been assigned a consensus recommendation of “Buy” from the sixteen research firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.22.
A number of brokerages recently weighed in on HCP. TheStreet upgraded shares of Rent-A-Center from a “c” rating to a “b-” rating in a report on Tuesday, May 7th. KeyCorp cut shares of GTT Communications from an “overweight” rating to a “sector weight” rating in a report on Monday, July 1st. Raymond James began coverage on shares of Adverum Biotechnologies in a report on Thursday, June 13th. They set a “market perform” rating for the company. Finally, Morgan Stanley set a $111.00 target price on shares of Procter & Gamble and gave the stock a “buy” rating in a report on Thursday, March 28th.
In related news, Director Christine Garvey sold 3,405 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $29.80, for a total value of $101,469.00. Following the completion of the sale, the director now owns 5,348 shares in the company, valued at approximately $159,370.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of HCP by 1.3% in the 1st quarter. BlackRock Inc. now owns 46,737,345 shares of the real estate investment trust’s stock valued at $1,462,881,000 after acquiring an additional 591,173 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in HCP by 73.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,036,864 shares of the real estate investment trust’s stock worth $392,050,000 after buying an additional 5,960,734 shares in the last quarter. JPMorgan Chase & Co. lifted its position in HCP by 5.4% in the 1st quarter. JPMorgan Chase & Co. now owns 11,420,161 shares of the real estate investment trust’s stock worth $357,451,000 after buying an additional 581,291 shares in the last quarter. Deutsche Bank AG lifted its position in HCP by 1,073.7% in the 4th quarter. Deutsche Bank AG now owns 10,704,554 shares of the real estate investment trust’s stock worth $298,971,000 after buying an additional 9,792,507 shares in the last quarter. Finally, Northern Trust Corp lifted its position in HCP by 8.8% in the 1st quarter. Northern Trust Corp now owns 8,540,565 shares of the real estate investment trust’s stock worth $267,320,000 after buying an additional 688,358 shares in the last quarter. Institutional investors and hedge funds own 95.50% of the company’s stock.
Shares of HCP stock traded up $0.05 on Friday, hitting $32.55. The company had a trading volume of 90,182 shares, compared to its average volume of 3,002,070. The business has a 50-day simple moving average of $32.17. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90. The stock has a market cap of $15.42 billion, a P/E ratio of 17.91, a PEG ratio of 7.01 and a beta of 0.31. HCP has a 52 week low of $24.47 and a 52 week high of $33.58.
HCP (NYSE:HCP) last issued its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $436.15 million during the quarter, compared to analysts’ expectations of $442.20 million. HCP had a net margin of 59.96% and a return on equity of 18.05%. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. On average, equities analysts expect that HCP will post 1.74 EPS for the current year.
HCP, Inc is a fully integrated real estate investment trust (REIT) that invests in real estate serving the healthcare industry in the United States. HCP owns a large-scale portfolio primarily diversified across life science, medical office and senior housing. Recognized as a global leader in sustainability, HCP has been a publicly-traded company since 1985 and was the first healthcare REIT selected to the S&P 500 index.
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