HCP, Inc. Announces Quarterly Dividend of $0.37 (NYSE:HCP)

HCP, Inc. (NYSE:HCP) declared a quarterly dividend on Thursday, July 27th, RTT News reports. Shareholders of record on Monday, August 7th will be given a dividend of 0.37 per share by the real estate investment trust on Tuesday, August 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Thursday, August 3rd.

HCP has decreased its dividend by an average of 0.1% per year over the last three years. HCP has a dividend payout ratio of 76.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect HCP to earn $2.00 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 74.0%.

Shares of HCP (HCP) traded down 0.152% during trading on Tuesday, hitting $29.515. The stock had a trading volume of 2,960,565 shares. The firm’s 50 day moving average is $32.01 and its 200 day moving average is $31.31. The company has a market cap of $13.84 billion, a PE ratio of 20.119 and a beta of 0.37. HCP has a 1-year low of $27.61 and a 1-year high of $40.43.

HCP (NYSE:HCP) last posted 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. HCP had a return on equity of 9.96% and a net margin of 32.16%. The firm had revenue of $458.90 million for the quarter, compared to the consensus estimate of $456.29 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. The business’s quarterly revenue was down 14.8% on a year-over-year basis. Equities research analysts anticipate that HCP will post $1.43 EPS for the current fiscal year.

A number of equities research analysts recently issued reports on the company. UBS AG upgraded HCP from an “underperform” rating to an “outperform” rating in a research report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) cut HCP from a “buy” rating to a “neutral” rating and reduced their target price for the company from $35.00 to $32.00 in a research note on Monday, July 24th. Stifel Nicolaus reissued a “hold” rating and issued a $31.00 target price on shares of HCP in a research note on Friday, July 14th. BidaskClub raised HCP from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Mizuho reissued a “neutral” rating on shares of HCP in a research note on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. HCP has a consensus rating of “Hold” and a consensus target price of $33.42.

In related news, insider Thomas Klaritch sold 2,651 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.53, for a total transaction of $83,586.03. Following the completion of the sale, the insider now owns 176,830 shares of the company’s stock, valued at $5,575,449.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is owned by company insiders.

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.