• Return to Headlines

Downgrade Alert for HCP (HCP)

By Shiri Gupta

HCP (NYSE:HCP) was downgraded from Equal Weight to Underweight at Morgan Stanley today. The stock closed yesterday at $34.05 on volume of 4.9 million shares, above average daily volume of 3.9 million.

HCP, Inc. is a real estate investment trust. The Trust invests in health care related real estate throughout the United States. HCP's properties include senior housing, life sciences, medical offices, hospitals, and skilled nursing homes.

Potential upside of 14.6% exists for HCP, based on a current level of $34.05 and analysts' average consensus price target of $39.04. The stock should find resistance at its 200-day moving average (MA) of $35.60, as well as support at its 50-day MA of $33.05.

In the past 52 weeks, HCP share prices have been bracketed by a low of $25.11 and a high of $40.95 and closed yesterday at $34.05, 36% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of HCP on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.49. Since that recommendation, shares of HCP have risen 11.2%. We continue to monitor HCP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades

Ticker(s): HCP