HCP (HCP) is Upgraded by BofA/Merrill to Neutral

HCP (HCP) was Upgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Underperform ” on the company shares. BofA/Merrill advised their investors in a research report released on Oct 4, 2016.

Many Wall Street Analysts have commented on HCP. Company shares were Reiterated by Mizuho on Aug 10, 2016 to “Neutral”, Firm has raised the Price Target to $ 37 from a previous price target of $32 .HCP was Initiated by Raymond James to “Underperform” on Jul 26, 2016. HCP was Upgraded by Goldman to ” Neutral” on Jul 8, 2016.

On the company’s financial health, HCP reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.70. The company had revenue of $662.20 million for the quarter, compared to analysts expectations of $623.74 million. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.

HCP closed down -0.59 points or -1.53% at $37.95 with 41,86,165 shares getting traded on Friday. Post opening the session at $38.82, the shares hit an intraday low of $37.92 and an intraday high of $39.1 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Sep 8, 2016, Thomas D Kirby (Executive Vice President) sold 3,000 shares at $40.24 per share price. According to the SEC, on Sep 1, 2016, Darren A Kowalske (Executive Vice President) sold 2,250 shares at $39.20 per share price. On Aug 24, 2016, Jonathan M. Bergschneider (Executive Vice President) sold 7,651 shares at $39.78 per share price, according to the Form-4 filing with the securities and exchange commission.

HCP Inc. (HCP) is a real estate investment trust (REIT). The Company invests in real estate serving the healthcare industry in the United States. Its portfolio consists of investments in various healthcare segments: senior housing post-acute/skilled nursing life science medical office and hospital. Its portfolio includes owned portfolio unconsolidated joint ventures and developments and redevelopments. Its owned portfolio includes around 1040 properties under lease and 68 operating properties. It has interests in unconsolidated joint ventures representing around 88 properties in its senior housing life science and medical office segments. It has assets under development redevelopment and land held for future development in life science and medical office segments. The properties owned by it in medical office and senior housing segments which are under development or redevelopment include Pacific Corporate Park Memorial Hermann Sky Ridge Bayfront Folsom and Deer Park.


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