HCP (HCP) Sets New 52-Week Low After Analyst Downgrade

HCP, Inc. (NYSE:HCP) hit a new 52-week low during mid-day trading on Friday after Robert W. Baird lowered their price target on the stock from $29.00 to $26.00. Robert W. Baird currently has a neutral rating on the stock. HCP traded as low as $24.93 and last traded at $24.94, with a volume of 1962714 shares. The stock had previously closed at $25.26.

A number of other equities research analysts have also recently issued reports on HCP. Stifel Nicolaus reiterated a “hold” rating and set a $30.00 price objective on shares of HCP in a research note on Wednesday, October 4th. ValuEngine cut HCP from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. BMO Capital Markets reiterated a “hold” rating and set a $28.00 price objective on shares of HCP in a research note on Wednesday, October 18th. KeyCorp reiterated a “hold” rating on shares of HCP in a research note on Tuesday, October 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $29.00 price objective on shares of HCP in a research note on Thursday, December 14th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.36.

Hedge funds have recently bought and sold shares of the stock. Shell Asset Management Co. increased its holdings in shares of HCP by 311.9% during the 3rd quarter. Shell Asset Management Co. now owns 121,033 shares of the real estate investment trust’s stock worth $4,806,000 after acquiring an additional 91,652 shares during the last quarter. Lazard Asset Management LLC grew its holdings in HCP by 52.8% in the 2nd 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 in the last quarter. CIBC World Markets Inc. grew its holdings in HCP by 335.5% in the 2nd 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 in the last quarter. Accident Compensation Corp grew its holdings in HCP by 9.9% in the 2nd 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 in the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its holdings in HCP by 109.3% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 18,570 shares of the real estate investment trust’s stock valued at $517,000 after buying an additional 9,698 shares in the last quarter. 89.88% of the stock is currently owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $11,690.00, a price-to-earnings ratio of 44.58, a P/E/G ratio of 2.87 and a beta of 0.33.

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

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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.

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