HCP (HCP) has risen sharply, recording gains of 6.87% in the past 4 weeks. However, the stock has corrected -2.09% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 4.28% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
HCP (NYSE:HCP): The stock opened at $38.50 on Friday but the bulls could not build on the opening and the stock topped out at $38.69 for the day. The stock traded down to $38.30 during the day, due to lack of any buying support eventually closed down at $38.41 with a loss of -0.23% for the day. The stock had closed at $38.50 on the previous day. The total traded volume was 1,855,528 shares.
The stock has recorded a 20-day Moving Average of 2.05% and the 50-Day Moving Average is 8.67%. HCP, Inc. is up 12.83% in the last 3-month period. Year-to-Date the stock performance stands at 5.28%.
HCP (HCP) stock is expected to deviate a maximum of $6.29 from the average target price of $31.43 for the short term period. 7 Street Experts have initiated coverage on the stock with the most promising target being $43 and the most muted being $23.
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 1,040 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.