HCP (HCP) Upgraded at Royal Bank of Canada

HCP (NYSE:HCP) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, November 2nd, MarketBeat Ratings reports.

A number of other equities analysts also recently weighed in on HCP. Robert W. Baird boosted their price target on HCP from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. Cantor Fitzgerald boosted their price target on HCP from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, November 1st. ValuEngine raised HCP from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. BMO Capital Markets reissued a “hold” rating and set a $27.00 price target on shares of HCP in a research report on Wednesday, October 31st. Finally, Zacks Investment Research downgraded HCP from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $26.75.

HCP traded up $0.05 on Friday, hitting $28.82. 3,877,224 shares of the company were exchanged, compared to its average volume of 3,960,649. HCP has a 12 month low of $21.48 and a 12 month high of $28.92. The firm has a market capitalization of $13.50 billion, a PE ratio of 14.78, a PEG ratio of 7.21 and a beta of 0.16. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.48 and a current ratio of 0.48.

HCP (NYSE:HCP) last released its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.10. HCP had a return on equity of 3.06% and a net margin of 9.16%. The business had revenue of $456.00 million for the quarter, compared to analyst estimates of $456.59 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. HCP’s revenue was up .4% on a year-over-year basis. On average, research analysts forecast that HCP will post 1.82 earnings per share for the current year.

Several hedge funds have recently modified their holdings of HCP. Mount Yale Investment Advisors LLC bought a new stake in shares of HCP in the second quarter valued at approximately $104,000. Piedmont Investment Advisors LLC bought a new stake in shares of HCP in the second quarter valued at approximately $142,000. Peoples Financial Services CORP. boosted its stake in shares of HCP by 87.7% in the third quarter. Peoples Financial Services CORP. now owns 6,100 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 2,850 shares during the period. Wetherby Asset Management Inc. bought a new stake in shares of HCP in the third quarter valued at approximately $200,000. Finally, Reliance Trust Co. of Delaware bought a new stake in HCP during the second quarter worth $211,000. Institutional investors and hedge funds own 87.64% of the company’s stock.

HCP Company Profile

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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Analyst Recommendations for HCP (NYSE:HCP)

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