Robert W. Baird Lowers HCP (HCP) Price Target to $26.00

HCP (NYSE:HCP) had its price target lowered by equities research analysts at Robert W. Baird from $29.00 to $26.00 in a research note issued to investors on Friday. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s price objective suggests a potential upside of 2.93% from the company’s current price.

Several other equities research analysts have also recently weighed in on HCP. KeyCorp restated a “hold” rating on shares of HCP in a research note on Sunday, September 17th. Bank of America cut HCP from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $31.00 in a research note on Friday, September 22nd. Morgan Stanley decreased their target price on HCP from $31.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, September 25th. UBS Group cut HCP from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $30.00 to $25.00 in a research note on Monday, October 2nd. Finally, Zacks Investment Research cut HCP from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $30.36.

HCP (NYSE:HCP) opened at $25.26 on Friday. HCP has a 52-week low of $25.08 and a 52-week high of $33.67. The company has a market capitalization of $12,149.91, a PE ratio of 22.76, a PEG ratio of 2.87 and a beta of 0.38. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.61 and a current ratio of 0.61.

HCP (NYSE:HCP) last announced its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. HCP had a return on equity of 8.85% and a net margin of 27.31%. The business had revenue of $454.00 million during the quarter, compared to the consensus estimate of $440.60 million. During the same period in the previous year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was down 14.4% on a year-over-year basis. research analysts predict that HCP will post 1.94 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Shell Asset Management Co. lifted its stake in HCP by 311.9% in the third quarter. Shell Asset Management Co. now owns 121,033 shares of the real estate investment trust’s stock valued at $4,806,000 after buying an additional 91,652 shares during the last quarter. Lazard Asset Management LLC lifted its stake in HCP by 52.8% in the second quarter. Lazard Asset Management LLC now owns 88,938 shares of the real estate investment trust’s stock valued at $2,842,000 after buying an additional 30,745 shares during the last quarter. CIBC World Markets Inc. lifted its stake in HCP by 335.5% in the second quarter. CIBC World Markets Inc. now owns 42,640 shares of the real estate investment trust’s stock valued at $1,363,000 after buying an additional 32,849 shares during the last quarter. Accident Compensation Corp lifted its stake in HCP by 9.9% in the second quarter. Accident Compensation Corp now owns 66,421 shares of the real estate investment trust’s stock valued at $2,123,000 after buying an additional 6,000 shares during the last quarter. Finally, Arbor Wealth Management LLC lifted its stake in HCP by 10.2% in the third quarter. Arbor Wealth Management LLC now owns 146,389 shares of the real estate investment trust’s stock valued at $3,955,000 after buying an additional 13,512 shares during the last quarter. Institutional investors own 89.88% of the company’s stock.

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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.

Analyst Recommendations for HCP (NYSE:HCP)

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