HCP (NYSE:HCP) hit a new 52-week high Wednesday as it changed hands at $38.08 compared with its previous 52-week high of $38.05. HCP is currently trading at $38.07 with 166,018 shares changing hands as of 9:41 a.m..
NEW YORK ( TheStreet) -- HCP (NYSE: HCP) hit a new 52-week high Wednesday as it traded at $38.08 compared with its previous 52-Week high of $38.05. HCP is changing hands at $38.07 with 166,018 shares traded as of 9:41 a.m. ET. Average volume has been four million shares over the past 30 days. HCP has a market cap of $11.6 billion and is part of the financial sector and real estate industry. Shares are up 2% year to date as of the close of trading on Tuesday. HCP, Inc. is an independent hybrid real estate investment trust. The fund invests in real estate markets of the United States. The company has a P/E ratio of 58.2, above the average real estate industry P/E ratio of 56.4 and above the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates HCP as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full HCP Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.