Zacks Investment Research cut shares of HCP, Inc. (NYSE:HCP) from a hold rating to a sell rating in a research report report published on Tuesday morning.
According to Zacks, “Shares of HCP have underperformed the industry year to date. Moreover, the stock has seen the Zacks Consensus Estimate for funds from operations (FFO) per share for third-quarter 2017 and full-year 2018 being revised downward in a month’s time. Softness in the senior housing fundamentals, amid new supply is anticipated to thwart the company’s pricing power and occupancy levels. Moreover, geographical concentration of assets and hike in interest rate remain concerns. Though the company has opted for huge asset dispositions, the earning dilution impact cannot be bypassed. Nonetheless, this healthcare REIT is poised to gain from its diverse and high-quality portfolio, increasing healthcare spending and an aging population.”
Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of HCP from a hold rating to a buy rating in a research note on Wednesday, June 21st. Morgan Stanley dropped their target price 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. KeyCorp reiterated a hold rating on shares of HCP in a research note on Sunday, September 17th. BMO Capital Markets reiterated a hold rating and issued a $32.00 target price on shares of HCP in a research note on Wednesday, September 6th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $30.00 target price on shares of HCP in a research note on Tuesday, August 22nd. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $31.27.
HCP (NYSE HCP) traded down 0.81% during trading on Tuesday, hitting $26.92. 3,510,297 shares of the company’s stock traded hands. HCP has a 12 month low of $26.47 and a 12 month high of $34.02. The company’s 50 day moving average is $28.90 and its 200-day moving average is $30.74. The stock has a market cap of $12.62 billion, a P/E ratio of 18.35 and a beta of 0.38.
HCP (NYSE:HCP) last issued its earnings results on Tuesday, August 1st. 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. The firm had revenue of $458.90 million for the quarter, compared to the consensus estimate of $456.29 million. HCP had a net margin of 32.16% and a return on equity of 9.96%. The business’s revenue was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. On average, analysts predict that HCP will post $1.35 earnings per share for the current year.
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Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Investment Management Company LLC increased its holdings in HCP by 28.0% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 121,112 shares of the real estate investment trust’s stock valued at $4,285,000 after buying an additional 26,473 shares during the last quarter. Lazard Asset Management LLC increased its holdings in HCP by 52.8% during the second quarter. Lazard Asset Management LLC now owns 88,938 shares of the real estate investment trust’s stock valued at $2,842,000 after buying an additional 30,745 shares during the last quarter. Willingdon Wealth Management increased its holdings in HCP by 3.1% during the second quarter. Willingdon Wealth Management now owns 42,942 shares of the real estate investment trust’s stock valued at $1,372,000 after buying an additional 1,272 shares during the last quarter. CIBC World Markets Inc. increased its holdings in HCP by 335.5% during the second quarter. CIBC World Markets Inc. now owns 42,640 shares of the real estate investment trust’s stock valued at $1,363,000 after buying an additional 32,849 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in HCP by 18.0% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 115,043 shares of the real estate investment trust’s stock valued at $3,677,000 after buying an additional 17,536 shares during the last quarter. 89.60% of the stock is owned by institutional investors and hedge funds.
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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