Care Capital Properties Inc (NYSE:CCP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, May 9th.
According to Zacks, “Care Capital Properties, Inc. is a real estate investment trust which is engaged in the ownership, acquisition and leasing of skilled nursing facilities and healthcare assets operated by private regional and local care providers. The Company focuses on portfolio of triple-net leased properties focused on the post-acute sector and skilled nursing facilities. Care Capital Properties, Inc. is based in Chicago, United States. “
A number of other research analysts also recently issued reports on CCP. JMP Securities began coverage on Care Capital Properties in a report on Monday, February 13th. They issued a “market perform” rating and a $20.00 price target on the stock. Hilliard Lyons cut Care Capital Properties from a “buy” rating to a “neutral” rating in a research report on Monday, May 8th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $26.00.
Shares of Care Capital Properties (NYSE:CCP) traded up 0.44% during trading on Tuesday, hitting $27.52. The company had a trading volume of 999,429 shares. The company’s 50 day moving average is $27.29 and its 200 day moving average is $25.43. Care Capital Properties has a 1-year low of $22.70 and a 1-year high of $31.56. The firm has a market capitalization of $2.31 billion, a P/E ratio of 14.65 and a beta of 0.38.
Care Capital Properties (NYSE:CCP) last released its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.42 by $0.26. The company had revenue of $82.80 million for the quarter, compared to the consensus estimate of $83.32 million. Care Capital Properties had a return on equity of 9.92% and a net margin of 34.14%. The firm’s revenue was down 2.0% compared to the same quarter last year. Analysts anticipate that Care Capital Properties will post $1.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be paid a $0.57 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $2.28 annualized dividend and a dividend yield of 8.32%. Care Capital Properties’s dividend payout ratio is presently 161.70%.
Large investors have recently bought and sold shares of the company. Cohen Capital Management Inc. purchased a new stake in Care Capital Properties during the first quarter valued at approximately $149,000. Daiwa Securities Group Inc. raised its stake in Care Capital Properties by 38.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,505 shares of the financial services provider’s stock valued at $175,000 after buying an additional 1,800 shares during the period. State of Alaska Department of Revenue raised its stake in Care Capital Properties by 7.9% in the first quarter. State of Alaska Department of Revenue now owns 7,523 shares of the financial services provider’s stock valued at $201,000 after buying an additional 550 shares during the period. Texas Yale Capital Corp. purchased a new stake in Care Capital Properties during the first quarter valued at approximately $203,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Care Capital Properties during the first quarter valued at approximately $209,000. Institutional investors own 90.08% of the company’s stock.
About Care Capital Properties
Care Capital Properties, Inc is a self-administered, self-managed real estate investment trust with a diversified portfolio of skilled nursing facilities (SNFs) and other healthcare assets operated by private regional and local care providers. The Company 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, utilities, repairs and taxes.
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