Oppenheimer & Co. Inc. lowered its stake in shares of HCP, Inc. (NYSE:HCP) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,995 shares of the real estate investment trust’s stock after selling 5,249 shares during the period. Oppenheimer & Co. Inc.’s holdings in HCP were worth $1,238,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Millennium Management LLC acquired a new stake in HCP in the 1st quarter valued at about $7,672,000. Suntrust Banks Inc. grew its stake in HCP by 31.5% in the 1st quarter. Suntrust Banks Inc. now owns 17,478 shares of the real estate investment trust’s stock valued at $404,000 after acquiring an additional 4,191 shares during the last quarter. DnB Asset Management AS grew its stake in HCP by 7.0% in the 2nd quarter. DnB Asset Management AS now owns 55,366 shares of the real estate investment trust’s stock valued at $1,430,000 after acquiring an additional 3,600 shares during the last quarter. IFM Investors Pty Ltd grew its stake in HCP by 42.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 22,549 shares of the real estate investment trust’s stock valued at $582,000 after acquiring an additional 6,709 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its stake in shares of HCP by 24.0% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 180,400 shares of the real estate investment trust’s stock worth $4,658,000 after purchasing an additional 34,911 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.
Several research firms have issued reports on HCP. Royal Bank of Canada raised shares of HCP from a “sector perform” rating to an “outperform” rating in a research note on Friday. Cantor Fitzgerald raised their price target on shares of HCP from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday. BMO Capital Markets reaffirmed a “hold” rating and set a $27.00 price target on shares of HCP in a research note on Wednesday. Morgan Stanley raised their price target on shares of HCP from $23.50 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 16th. Finally, Bank of America raised their price target on shares of HCP from $27.50 to $28.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $26.75.
HCP (NYSE:HCP) last announced its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.10. The business had revenue of $456.00 million for the quarter, compared to analyst estimates of $456.59 million. HCP had a net margin of 9.16% and a return on equity of 3.06%. The company’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. As a group, equities research analysts expect that HCP, Inc. will post 1.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, November 5th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, November 2nd. This represents a $1.48 annualized dividend and a dividend yield of 5.36%. HCP’s payout ratio is currently 75.90%.
HCP Company Profile
HCP, Inc is a fully integrated real estate investment trust (REIT) that invests in real estate serving the healthcare industry in the United States. HCP owns a large-scale portfolio primarily diversified across life science, medical office and senior housing. Recognized as a global leader in sustainability, HCP has been a publicly-traded company since 1985 and was the first healthcare REIT selected to the S&P 500 index.
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