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

According to Zacks, “Shares of HCP underperformed the Zacks categorized REIT and Equity Trust – Other industry in the past three months. Estimates for funds from operations (FFO) per share have been stable lately ahead of the company’s second quarter earnings release. Notably, increasing supply, rise in interest rate, the company’s dependence on few tenants and operators and cut-throat competition remain concerns for this healthcare REIT. Although, the company opted for huge asset dispositions and remains on track with its deleveraging plan, it cannot bypass the dilutive impact on earnings from sale of assets. Nevertheless, the company has the scope to gain from its diverse and high-quality portfolio, rising healthcare spending and an aging population.”

Other equities research analysts have also recently issued research reports about the company. Mitsubishi UFJ Financial Group initiated coverage on HCP in a research note on Friday, April 21st. They issued a “hold” rating and a $32.00 price target for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $32.00 price objective on shares of HCP in a research report on Friday, May 12th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $31.00 price objective on shares of HCP in a research report on Wednesday, July 5th. Raymond James Financial, Inc. upgraded shares of HCP from an “underperform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Wednesday, June 14th. Finally, Mizuho cut shares of HCP from a “buy” rating to a “neutral” rating and reduced their target price for the company from $34.00 to $32.00 in a research note on Tuesday, April 11th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.55.

Shares of HCP (NYSE:HCP) traded up 0.56% during mid-day trading on Tuesday, hitting $32.19. The stock had a trading volume of 687,201 shares. HCP has a one year low of $27.61 and a one year high of $40.43. The company has a 50-day moving average of $31.89 and a 200 day moving average of $31.03. The firm has a market cap of $15.08 billion, a price-to-earnings ratio of 15.52 and a beta of 0.37.

HCP (NYSE:HCP) last posted its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. HCP had a return on equity of 12.39% and a net margin of 41.38%. The company had revenue of $492.16 million during the quarter, compared to the consensus estimate of $514.82 million. During the same period last year, the business earned $0.69 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities research analysts forecast that HCP will post $1.28 earnings per share for the current year.

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In related news, insider Thomas Klaritch sold 2,651 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.53, for a total transaction of $83,586.03. Following the completion of the transaction, the insider now owns 176,830 shares of the company’s stock, valued at approximately $5,575,449.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Cleararc Capital Inc. increased its position in shares of HCP by 0.7% in the first quarter. Cleararc Capital Inc. now owns 11,441 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 85 shares in the last quarter. Peoples Financial Services CORP. boosted its stake in HCP by 4.0% in the second quarter. Peoples Financial Services CORP. now owns 3,250 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 125 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its stake in HCP by 0.9% in the first quarter. Transamerica Financial Advisors Inc. now owns 17,030 shares of the real estate investment trust’s stock valued at $533,000 after buying an additional 145 shares in the last quarter. Atria Investments LLC increased its stake in shares of HCP by 1.2% in the second quarter. Atria Investments LLC now owns 12,447 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 147 shares during the last quarter. Finally, Curbstone Financial Management Corp increased its stake in shares of HCP by 0.5% in the first quarter. Curbstone Financial Management Corp now owns 31,185 shares of the real estate investment trust’s stock valued at $975,000 after buying an additional 150 shares during the last quarter. 88.27% of the stock is currently owned by hedge funds and other institutional investors.

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.

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