Huntington National Bank cut its stake in shares of HCP, Inc. (NYSE:HCP) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,380 shares of the real estate investment trust’s stock after selling 333 shares during the period. Huntington National Bank’s holdings in HCP were worth $727,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of HCP. Amundi Pioneer Asset Management Inc. boosted its position in HCP by 17.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 555,436 shares of the real estate investment trust’s stock valued at $17,384,000 after purchasing an additional 82,719 shares during the last quarter. Pensionfund DSM Netherlands boosted its position in HCP by 12.7% during the second quarter. Pensionfund DSM Netherlands now owns 106,593 shares of the real estate investment trust’s stock valued at $3,409,000 after purchasing an additional 12,000 shares during the last quarter. Pensionfund Sabic boosted its position in HCP by 30.3% during the second quarter. Pensionfund Sabic now owns 43,007 shares of the real estate investment trust’s stock valued at $1,375,000 after purchasing an additional 10,000 shares during the last quarter. Eii Capital Management Inc. boosted its position in HCP by 11.9% during the second quarter. Eii Capital Management Inc. now owns 67,719 shares of the real estate investment trust’s stock valued at $2,166,000 after purchasing an additional 7,175 shares during the last quarter. Finally, Montecito Bank & Trust acquired a new position in HCP during the second quarter valued at approximately $1,865,000. 95.80% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on HCP shares. TheStreet raised HCP from a “c+” rating to a “b-” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised HCP from a “neutral” rating to an “overweight” rating and increased their price target for the company from $35.00 to $38.00 in a research report on Tuesday, October 8th. Morgan Stanley increased their price target on HCP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 17th. Stifel Nicolaus increased their price target on HCP from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. They noted that the move was a valuation call. Finally, ValuEngine cut HCP from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. HCP presently has a consensus rating of “Buy” and a consensus target price of $36.78.
Shares of HCP traded down $0.89 during mid-day trading on Friday, reaching $33.64. The company’s stock had a trading volume of 4,003,528 shares, compared to its average volume of 2,801,829. HCP, Inc. has a 1-year low of $26.58 and a 1-year high of $37.93. The stock has a market cap of $17.57 billion, a P/E ratio of 18.48, a PEG ratio of 6.81 and a beta of 0.22. The business has a 50-day simple moving average of $36.24 and a two-hundred day simple moving average of $33.42. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.01.
HCP (NYSE:HCP) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.52). HCP had a net margin of 43.66% and a return on equity of 12.78%. The business had revenue of $538.00 million during the quarter, compared to analyst estimates of $503.65 million. During the same period in the previous year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up 18.0% on a year-over-year basis. Research analysts anticipate that HCP, Inc. will post 1.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.40%. HCP’s dividend payout ratio (DPR) is currently 81.32%.
In other news, COO Thomas Klaritch sold 35,014 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $36.02, for a total transaction of $1,261,204.28. Following the transaction, the chief operating officer now owns 230,529 shares in the company, valued at $8,303,654.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by company insiders.
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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