JPMorgan Chase & Co. upgraded shares of HCP (NYSE:HCP) from a neutral rating to an overweight rating in a report published on Tuesday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $38.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $35.00.
Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of HCP from a buy rating to a hold rating in a report on Wednesday, October 2nd. Raymond James upgraded shares of HCP from a market perform rating to an outperform rating and set a $35.00 target price on the stock in a report on Thursday, June 13th. Argus upgraded shares of HCP from a hold rating to a buy rating in a report on Tuesday, September 10th. Stifel Nicolaus raised their target price on shares of HCP from $34.00 to $37.00 and gave the stock a buy rating in a report on Tuesday, September 3rd. They noted that the move was a valuation call. Finally, KeyCorp raised their target price on shares of HCP from $34.00 to $37.00 and gave the stock an overweight rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $35.78.
Shares of NYSE HCP opened at $36.35 on Tuesday. HCP has a one year low of $24.47 and a one year high of $36.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50 day simple moving average is $35.21 and its two-hundred day simple moving average is $32.63. The stock has a market capitalization of $17.90 billion, a P/E ratio of 19.97, a PEG ratio of 6.79 and a beta of 0.23.
HCP (NYSE:HCP) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.46). HCP had a net margin of 53.57% and a return on equity of 15.54%. The business had revenue of $489.15 million for the quarter, compared to the consensus estimate of $444.67 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts expect that HCP will post 1.75 earnings per share for the current fiscal year.
In other news, COO Thomas Klaritch sold 35,014 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $36.02, for a total value of $1,261,204.28. Following the transaction, the chief operating officer now owns 230,529 shares in the company, valued at $8,303,654.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. bought a new stake in HCP in the second quarter valued at $31,000. NEXT Financial Group Inc boosted its holdings in HCP by 181.3% in the second quarter. NEXT Financial Group Inc now owns 1,125 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 725 shares in the last quarter. CSat Investment Advisory L.P. boosted its holdings in HCP by 77.6% in the second quarter. CSat Investment Advisory L.P. now owns 1,165 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 509 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in HCP in the first quarter valued at $37,000. Finally, North Star Investment Management Corp. bought a new stake in HCP in the third quarter valued at $54,000. Institutional investors and hedge funds own 95.43% of the company’s stock.
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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