HCP (NYSE: HCP)‘s stock had its “neutral” rating reaffirmed by research analysts at JPMorgan Chase in a report released on Friday. They currently have a $50.00 target price on the stock, up from their previous target price of $48.00.
The analysts wrote, “We retain our Neutral rating on HCP due to a number of factors. On the valuation front, the stock trades at slight premiums to the health care REIT averages (particularly on an AFFO basis), which we do believe is justified considering its improved growth profile following recent investment activity and lease restructuring. However, we continue to maintain our bias toward more economically leveraged property types at this point in the cycle.”
Shares of HCP traded up 0.04% during mid-day trading on Friday, hitting $48.90. HCP has a one year low of $37.81 and a one year high of $49.18. The stock’s 50-day moving average is currently $47.04. The company has a market cap of $22.170 billion and a P/E ratio of 25.78.
HCP last issued its quarterly earnings data on Tuesday, February 12th. The company reported $0.71 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.71. The company had revenue of $508.49 million for the quarter, compared to the consensus estimate of $482.51 million. During the same quarter last year, the company posted $0.67 earnings per share. HCP’s revenue was up 11.0% compared to the same quarter last year. HCP has set its FY13 guidance at $2.92-2.98 EPS. On average, analysts predict that HCP will post $2.97 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets upgraded shares of HCP from an “underperform” rating to a “market perform” rating in a research note to investors on Friday. They now have a $49.00 price target on the stock. Separately, analysts at Hilliard Lyons reiterated an “underperform” rating on shares of HCP in a research note to investors on Wednesday, February 13th. Finally, analysts at RBC Capital raised their price target on shares of HCP from $46.00 to $47.00 in a research note to investors on Wednesday, February 13th. They now have a “sector perform” rating on the stock.
Three research analysts have rated the stock with a buy rating, twelve have given a hold rating, one has assigned an underweight rating, and two have issued a sell rating to the company. The company has a consensus rating of “hold” and an average target price of $45.90.
HCP, Inc. (HCP) is a real estate investment trust (REIT). The Company invests primarily in real estate serving the healthcare industry in the United States.
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