Zacks: Care Capital Properties Inc. (NYSE:CCP) Given Consensus Rating of “Strong Buy” by Analysts
Shares of Care Capital Properties Inc. (NYSE:CCP) have received a consensus broker rating score of 1.33 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. Care Capital Properties’ rating score has improved by 46.8% from three months ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 12-month consensus price objective of $34.00 for the company, according to Zacks. Zacks has also given Care Capital Properties an industry rank of 155 out of 265 based on the ratings given to its competitors.
Several equities research analysts have weighed in on CCP shares. Zacks Investment Research upgraded Care Capital Properties from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. Mizuho reiterated a “neutral” rating and issued a $27.00 target price 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.
Shares of Care Capital Properties (NYSE:CCP) opened at 28.33 on Monday. Care Capital Properties has a 1-year low of $23.65 and a 1-year high of $34.63. The company has a market cap of $2.38 billion and a price-to-earnings ratio of 17.60. The stock has a 50 day moving average of $29.58 and a 200 day moving average of $27.39.
Care Capital Properties (NYSE:CCP) last issued its earnings results on Thursday, August 11th. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Care Capital Properties had a return on equity of 11.18% and a net margin of 39.69%. The business earned $85.66 million during the quarter, compared to analysts’ expectations of $79.72 million. During the same period in the prior year, the business earned $0.87 EPS. Analysts predict that Care Capital Properties will post $2.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 8.05%. The ex-dividend date is Wednesday, September 14th. Care Capital Properties’s dividend payout ratio (DPR) is currently 141.61%.
Several large investors have recently modified their holdings of the company. Shinko Asset Management Co. Ltd. boosted 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 during the period. PGGM Investments bought a new stake in shares of Care Capital Properties during the first quarter worth $3,453,000. Prudential Financial Inc. boosted 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 during the period. Geode Capital Management LLC boosted 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 during the period. Finally, Bank of Montreal Can bought a new stake in shares of Care Capital Properties during the second quarter worth $930,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.
About Care Capital Properties
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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