Dynamic Technology Lab Private Ltd Increases Stake in Care Capital Properties Inc. (CCP)
Dynamic Technology Lab Private Ltd boosted its position in Care Capital Properties Inc. (NYSE:CCP) by 40.8% during the second quarter, Holdings Channel reports. The firm owned 16,940 shares of the company’s stock after buying an additional 4,908 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Care Capital Properties were worth $444,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Shinko Asset Management Co. Ltd. raised its stake in shares of Care Capital Properties by 0.5% in the second quarter. Shinko Asset Management Co. Ltd. now owns 2,210,487 shares of the company’s stock worth $57,937,000 after buying an additional 10,247 shares in the last quarter. PGGM Investments bought a new stake in shares of Care Capital Properties during the first quarter worth approximately $3,453,000. Prudential Financial Inc. raised its stake in shares of Care Capital Properties by 89.7% in the first quarter. Prudential Financial Inc. now owns 144,837 shares of the company’s stock worth $3,888,000 after buying an additional 68,482 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Care Capital Properties by 24.5% in the first quarter. Geode Capital Management LLC now owns 813,508 shares of the company’s stock worth $21,834,000 after buying an additional 160,019 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Care Capital Properties during the second quarter worth approximately $930,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.
Care Capital Properties Inc. (NYSE:CCP) traded up 0.5523% during trading on Wednesday, hitting $28.1647. The stock had a trading volume of 37,087 shares. The stock’s 50-day moving average price is $29.61 and its 200-day moving average price is $27.38. The company has a market capitalization of $2.36 billion and a P/E ratio of 17.4936. Care Capital Properties Inc. has a 1-year low of $23.65 and a 1-year high of $34.63.
Care Capital Properties (NYSE:CCP) last posted its earnings results on Thursday, August 11th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The company had revenue of $85.66 million for the quarter, compared to analysts’ expectations of $79.72 million. Care Capital Properties had a return on equity of 11.18% and a net margin of 39.69%. During the same period last year, the firm earned $0.87 earnings per share. Analysts expect that Care Capital Properties Inc. will post $2.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.28 annualized dividend and a yield of 8.14%. Care Capital Properties’s dividend payout ratio (DPR) is presently 141.61%.
A number of analysts have commented on CCP shares. Zacks Investment Research raised Care Capital Properties from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. Mizuho reissued a “neutral” rating and set a $27.00 price objective on shares of Care Capital Properties in a report on Tuesday, July 12th. Finally, Stephens started coverage on Care Capital Properties in a report on Wednesday, September 14th. They issued an “overweight” rating and a $33.00 target price for the company.
Care Capital Properties Company Profile
Care Capital Properties, Inc is a self-administered, self-managed real estate investment trust (REIT) with a diversified portfolio of skilled nursing facilities (SNFs) and other healthcare assets operated by private regional and local care providers. It 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, taxes, insurance and capital expenditures.
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