JPMorgan Chase & Co. increased its stake in shares of Care Capital Properties Inc. (NYSE:CCP) by 4.1% during the second quarter, Holdings Channel reports. The fund owned 355,532 shares of the company’s stock after buying an additional 14,022 shares during the period. JPMorgan Chase & Co. owned approximately 0.42% of Care Capital Properties worth $9,318,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CCP. Advisors Asset Management Inc. bought a new stake in shares of Care Capital Properties during the second quarter valued at $102,000. LS Investment Advisors LLC increased its stake in shares of Care Capital Properties by 73.6% in the second quarter. LS Investment Advisors LLC now owns 5,059 shares of the company’s stock valued at $133,000 after buying an additional 2,145 shares during the last quarter. Commonwealth Equity Services Inc bought a new stake in shares of Care Capital Properties during the second quarter valued at $216,000. IBM Retirement Fund increased its stake in shares of Care Capital Properties by 1.9% in the second quarter. IBM Retirement Fund now owns 8,469 shares of the company’s stock valued at $222,000 after buying an additional 160 shares during the last quarter. Finally, Wedbush Securities Inc. bought a new stake in shares of Care Capital Properties during the second quarter valued at $240,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.
Care Capital Properties Inc. (NYSE:CCP) traded down 0.74% during trading on Thursday, hitting $26.79. The stock had a trading volume of 220,380 shares. The stock has a 50 day moving average price of $29.19 and a 200-day moving average price of $27.47. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 16.64 and a beta of 0.43. Care Capital Properties Inc. has a 12 month low of $23.65 and a 12 month high of $34.63.
Care Capital Properties (NYSE:CCP) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. The business earned $85.66 million during the quarter, compared to analyst estimates of $79.72 million. Care Capital Properties had a return on equity of 11.18% and a net margin of 39.69%. During the same period last year, the company earned $0.87 EPS. On average, equities analysts predict that Care Capital Properties Inc. will post $2.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 8.45%. The ex-dividend date of this dividend was Wednesday, September 14th. Care Capital Properties’s payout ratio is 141.61%.
Several analysts have weighed in on CCP shares. Zacks Investment Research upgraded Care Capital Properties from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, September 13th. Mizuho boosted their price objective on Care Capital Properties from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Finally, Stephens started coverage on Care Capital Properties in a research report on Wednesday, September 14th. They issued an “overweight” rating and a $33.00 price objective for the company.
Care Capital Properties Company Profile
Care Capital Properties, Inc is a self-administered, self-managed real estate investment trust (REIT) with a diversified portfolio of skilled nursing facilities (SNFs) and other healthcare assets operated by private regional and local care providers. It leases its properties to unaffiliated tenants under long-term triple-net leases, pursuant to which the tenants are obligated to pay all property-related expenses, including maintenance, taxes, insurance and capital expenditures.
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