HCP, Inc. (NYSE:HCP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Shares of HCP have underperformed the industry year to date. Moreover, the stock has seen the Zacks Consensus Estimate for funds from operations (FFO) per share for third-quarter 2017 and full-year 2018 being revised downward in a month’s time. Softness in the senior housing fundamentals, amid new supply is anticipated to thwart the company’s pricing power and occupancy levels. Moreover, geographical concentration of assets and hike in interest rate remain concerns. Though the company has opted for huge asset dispositions, the earning dilution impact cannot be bypassed. Nonetheless, this healthcare REIT is poised to gain from its diverse and high-quality portfolio, increasing healthcare spending and an aging population.”

A number of other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of HCP from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC reiterated a “hold” rating and set a $33.00 price objective on shares of HCP in a research report on Tuesday, July 25th. Royal Bank Of Canada reiterated a “hold” rating and set a $31.00 price objective on shares of HCP in a research report on Wednesday, July 5th. Bank of America Corporation cut shares of HCP from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $33.00 to $31.00 in a research report on Friday, September 22nd. Finally, Raymond James Financial, Inc. upgraded 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. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $31.27.

HCP (NYSE:HCP) traded up 0.30% during mid-day trading on Tuesday, hitting $27.14. 820,816 shares of the stock traded hands. The firm has a market cap of $12.73 billion, a P/E ratio of 18.50 and a beta of 0.38. HCP has a 52 week low of $26.47 and a 52 week high of $34.02. The firm’s 50-day moving average price is $29.03 and its 200-day moving average price is $30.79.

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

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its position in HCP by 0.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 7,194 shares of the real estate investment trust’s stock valued at $230,000 after acquiring an additional 54 shares during the period. Cleararc Capital Inc. increased its position in HCP by 0.7% in the 1st quarter. Cleararc Capital Inc. now owns 11,441 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 85 shares during the period. Alps Advisors Inc. increased its position in HCP by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 39,693 shares of the real estate investment trust’s stock valued at $1,269,000 after acquiring an additional 110 shares during the period. Peoples Financial Services CORP. increased its position in HCP by 4.0% in the 2nd quarter. Peoples Financial Services CORP. now owns 3,250 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 125 shares during the period. Finally, Atria Investments LLC increased its position in HCP by 1.2% in the 2nd quarter. Atria Investments LLC now owns 12,447 shares of the real estate investment trust’s stock valued at $398,000 after acquiring an additional 147 shares during the period. Hedge funds and other institutional investors own 89.60% of the company’s stock.

About HCP

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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