Zacks: Care Capital Properties, Inc. (CCP) Receives Average Rating of “Buy” from Brokerages

Care Capital Properties, Inc. (NYSE:CCP) has been assigned an average broker rating score of 2.00 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Care Capital Properties’ rating score has declined by 50.4% from three months ago as a result of various analysts’ ratings changes.

Analysts have set a 1-year consensus target price of $30.00 for the company, according to Zacks. Zacks has also given Care Capital Properties an industry rank of 98 out of 265 based on the ratings given to its competitors.

A number of brokerages have recently weighed in on CCP. Zacks Investment Research lowered Care Capital Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, January 3rd. Mizuho cut Care Capital Properties from a “buy” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $25.00 in a research note on Friday, December 16th.

In related news, Director Jeffrey A. Malehorn acquired 3,250 shares of the stock in a transaction on Tuesday, December 20th. The stock was acquired at an average price of $24.67 per share, for a total transaction of $80,177.50. Following the completion of the purchase, the director now owns 11,488 shares of the company’s stock, valued at $283,408.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas Crocker II acquired 20,000 shares of the stock in a transaction on Monday, November 14th. The shares were bought at an average price of $23.40 per share, with a total value of $468,000.00. Following the purchase, the director now directly owns 78,290 shares of the company’s stock, valued at approximately $1,831,986. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 33,250 shares of company stock valued at $785,778. 1.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CCP. Advisors Asset Management Inc. acquired a new position in Care Capital Properties during the second quarter valued at $102,000. Meeder Asset Management Inc. purchased a new stake in shares of Care Capital Properties during the third quarter valued at approximately $128,000. Bellwether Investment Group LLC purchased a new stake in shares of Care Capital Properties during the second quarter valued at approximately $145,000. LS Investment Advisors LLC raised its stake in shares of Care Capital Properties by 5.7% in the third quarter. LS Investment Advisors LLC now owns 5,347 shares of the company’s stock valued at $152,000 after buying an additional 288 shares during the last quarter. Finally, Advisors Management Group Inc. ADV purchased a new stake in shares of Care Capital Properties during the third quarter valued at approximately $204,000. Institutional investors and hedge funds own 90.02% of the company’s stock.

Care Capital Properties (NYSE:CCP) opened at 25.14 on Tuesday. Care Capital Properties has a 12 month low of $22.70 and a 12 month high of $31.56. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 17.84 and a beta of 0.38. The stock’s 50 day moving average price is $25.03 and its 200-day moving average price is $26.58.

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About Care Capital Properties

Care Capital Properties, Inc is a self-administered, self-managed real estate investment trust (REIT) with a diversified portfolio of skilled nursing facilities (SNFs) and other healthcare assets operated by private regional and local care providers. It leases its properties to unaffiliated tenants under long-term triple-net leases, pursuant to which the tenants are obligated to pay all property-related expenses, including maintenance, taxes, insurance and capital expenditures.

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