HCP, Inc. (HCP) Lowered to “Neutral” at Bank of America Corporation

HCP, Inc. (NYSE:HCP) was downgraded by research analysts at Bank of America Corporation from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts also recently issued reports on HCP. UBS AG raised shares of HCP from an “underperform” rating to an “outperform” rating in a research report on Wednesday, June 14th. Raymond James Financial, Inc. raised shares of HCP from an “underperform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Wednesday, June 14th. BidaskClub raised shares of HCP from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Mizuho reissued a “neutral” rating on shares of HCP in a research report on Wednesday, June 28th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $31.00 price objective on shares of HCP in a research report on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.84.

Shares of HCP (NYSE:HCP) opened at 28.57 on Friday. HCP has a 52-week low of $27.61 and a 52-week high of $36.16. The firm’s 50 day moving average price is $29.61 and its 200 day moving average price is $30.98. The stock has a market cap of $13.40 billion, a P/E ratio of 19.48 and a beta of 0.38.

HCP (NYSE:HCP) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. HCP had a net margin of 32.16% and a return on equity of 9.96%. The firm had revenue of $458.90 million during the quarter, compared to the consensus estimate of $456.29 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. On average, analysts expect that HCP will post $1.35 EPS for the current year.

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Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Investment Management Company LLC lifted its stake in HCP by 28.0% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 121,112 shares of the real estate investment trust’s stock worth $4,285,000 after purchasing an additional 26,473 shares in the last quarter. Willingdon Wealth Management lifted its stake in HCP by 3.1% in the 2nd quarter. Willingdon Wealth Management now owns 42,942 shares of the real estate investment trust’s stock worth $1,372,000 after purchasing an additional 1,272 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in HCP by 18.0% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 115,043 shares of the real estate investment trust’s stock worth $3,677,000 after purchasing an additional 17,536 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in HCP in the 2nd quarter worth $1,560,000. Finally, Ameriprise Financial Inc. lifted its stake in HCP by 24.9% in the 1st quarter. Ameriprise Financial Inc. now owns 742,597 shares of the real estate investment trust’s stock worth $23,230,000 after purchasing an additional 147,812 shares in the last quarter. Institutional investors and hedge funds own 89.60% of the company’s stock.

HCP Company Profile

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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