Company Update: HCP Inc (NYSE:HCP) – HCP Declares Increased Quarterly Cash Dividend on Common Stock for 31st Consecutive Year

[PR Newswire] – IRVINE, Calif., Jan. 28, 2016 /PRNewswire/ — HCP ( NYSE:HCP ) announced that its Board of Directors declared an increased quarterly cash dividend of $0.575 per share on its common stock, compared with $0.565 … Read more on this. HCP, Inc. (HCP) , with a current value of $16.28B, opened this morning at $35.39. A quick look at the market, the company’s stock traded between $34.91 and $35.52 with a one year range of $32.71 to $48.29. Priced at 11.21x this year’s forecasted earnings, HCP shares are relatively inexpensive compared to the industry ’s 21.10x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.26 per share annually in dividends, yielding 6.10%. Consensus earnings for the current quarter by the 17 sell-side analysts covering the stock is an estimate of $0.78 per share, which would be $0.01 worse than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $3.14 which would be a $0.10 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $658.05 Million. If realized, that would be a 9.03% increase over the year-ago quarter. Recently, Jefferies downgraded HCP from Hold to Underperform (Jan 12, 2016). Previously, Argus downgraded HCP from Buy to Hold. With the above information in mind, readers should note that the average price target is $37.64, which is 6.36% above where the stock opened this morning. See more in (NYSE:HCP) Similar Articles: Market Update (NYSE:PRU): Prudential Financial Declares Quarterly Dividend On Common Stock Stock Update: American International Group Inc (NYSE:AIG) – AIG Board of Directors Authorizes Repurchase of Additional Shares of AIG Common Stock, Declares Increased Common Stock Dividend Stock Update: HCP Inc (NYSE:HCP) – HCP Declares Quarterly Cash Dividend on Common Stock