HCP (NYSE:HCP) Price Target Raised to $35.00 at Morgan Stanley

HCP (NYSE:HCP) had its price objective increased by Morgan Stanley from $32.00 to $35.00 in a research report report published on Tuesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the real estate investment trust’s stock.

A number of other equities analysts also recently issued reports on the company. Barclays assumed coverage on HCP in a research note on Tuesday, September 3rd. They issued an overweight rating and a $37.00 price target on the stock. Raymond James upgraded HCP from a market perform rating to an outperform rating and set a $35.00 price target on the stock in a research note on Thursday, June 13th. Argus upgraded HCP from a hold rating to a buy rating in a research note on Tuesday, September 10th. Stifel Nicolaus raised their price target on HCP from $34.00 to $37.00 and gave the stock a buy rating in a research note on Tuesday, September 3rd. They noted that the move was a valuation call. Finally, KeyCorp raised their price target on HCP from $32.00 to $34.00 and gave the stock an overweight rating in a research note on Monday, July 1st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. HCP currently has an average rating of Buy and an average target price of $34.22.

HCP stock opened at $35.01 on Tuesday. The company has a market cap of $17.16 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 6.93 and a beta of 0.25. HCP has a 1 year low of $24.47 and a 1 year high of $36.07. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s fifty day moving average price is $34.31 and its 200-day moving average price is $32.11.

HCP (NYSE:HCP) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.46). The firm had revenue of $489.15 million during the quarter, compared to analysts’ expectations of $444.67 million. HCP had a return on equity of 15.54% and a net margin of 53.57%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $0.45 earnings per share. As a group, analysts expect that HCP will post 1.75 earnings per share for the current year.

In related news, COO Thomas Klaritch sold 35,014 shares of HCP stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $36.02, for a total transaction of $1,261,204.28. Following the transaction, the chief operating officer now directly owns 230,529 shares in the company, valued at $8,303,654.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hancock Whitney Corp purchased a new position in HCP during the second quarter valued at $238,000. Treasurer of the State of North Carolina lifted its position in HCP by 3.3% during the second quarter. Treasurer of the State of North Carolina now owns 313,061 shares of the real estate investment trust’s stock valued at $10,012,000 after purchasing an additional 9,970 shares in the last quarter. Mackenzie Financial Corp lifted its position in HCP by 3.3% during the second quarter. Mackenzie Financial Corp now owns 52,015 shares of the real estate investment trust’s stock valued at $1,663,000 after purchasing an additional 1,675 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its position in HCP by 12.5% during the second quarter. Vestmark Advisory Solutions Inc. now owns 27,582 shares of the real estate investment trust’s stock valued at $882,000 after purchasing an additional 3,067 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. lifted its position in HCP by 18.6% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 1,882 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 295 shares in the last quarter. Institutional investors own 95.43% of the company’s stock.

About HCP

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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