HCP, Inc. (NYSE:HCP) released its quarterly earnings data 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, Briefing.com reports. HCP had a return on equity of 9.96% and a net margin of 32.16%. The firm had revenue of $458.90 million during the quarter, compared to analyst estimates of $456.29 million. During the same period in the prior year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was down 14.8% compared to the same quarter last year. HCP updated its FY17 guidance to $1.89-1.95 EPS.
Shares of HCP (NYSE HCP) traded up 0.27% during trading on Friday, reaching $29.27. The company’s stock had a trading volume of 3,230,845 shares. The company’s 50 day moving average price is $31.34 and its 200 day moving average price is $31.25. The firm has a market cap of $13.73 billion, a PE ratio of 19.95 and a beta of 0.37. HCP has a 12 month low of $27.61 and a 12 month high of $36.82.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Monday, August 7th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date is Thursday, August 3rd. HCP’s dividend payout ratio (DPR) is currently 102.07%.
Several research analysts have issued reports on the company. BidaskClub lowered HCP from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a “hold” rating and set a $33.00 price objective on shares of HCP in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) lowered HCP from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $35.00 to $32.00 in a research note on Monday, July 24th. Zacks Investment Research lowered HCP from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $31.00 target price on shares of HCP in a research note on Friday, July 14th. Three equities research 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. The company presently has an average rating of “Hold” and an average price target of $33.42.
In other news, insider Thomas Klaritch sold 2,651 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.53, for a total value of $83,586.03. Following the completion of the sale, the insider now directly owns 176,830 shares of the company’s stock, valued at $5,575,449.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Peoples Financial Services CORP. increased its stake in shares of HCP by 4.0% in the second quarter. Peoples Financial Services CORP. now owns 3,250 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 125 shares during the last quarter. Founders Capital Management acquired a new stake in shares of HCP during the first quarter worth approximately $106,000. Chicago Partners Investment Group LLC increased its stake in shares of HCP by 252.5% in the second quarter. Chicago Partners Investment Group LLC now owns 3,525 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 2,525 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of HCP during the first quarter worth approximately $114,000. Finally, ClariVest Asset Management LLC acquired a new stake in shares of HCP during the second quarter worth approximately $172,000. 89.13% of the stock is owned by hedge funds and other institutional investors.
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.
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