Arizona State Retirement System Raises Stake in HCP, Inc. (HCP)
Arizona State Retirement System boosted its stake in HCP, Inc. (NYSE:HCP) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,244 shares of the real estate investment trust’s stock after buying an additional 300 shares during the period. Arizona State Retirement System’s holdings in HCP were worth $3,715,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in HCP by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 7,194 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 54 shares during the last quarter. Cleararc Capital Inc. increased its position in HCP by 0.7% in the first quarter. Cleararc Capital Inc. now owns 11,441 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 85 shares during the last quarter. Peoples Financial Services CORP. increased its position in HCP by 4.0% in the second quarter. Peoples Financial Services CORP. now owns 3,250 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 125 shares during the last quarter. Transamerica Financial Advisors Inc. increased its position in HCP by 0.9% in the first quarter. Transamerica Financial Advisors Inc. now owns 17,030 shares of the real estate investment trust’s stock valued at $533,000 after buying an additional 145 shares during the last quarter. Finally, Atria Investments LLC increased its position in HCP by 1.2% in the second quarter. Atria Investments LLC now owns 12,447 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 147 shares during the last quarter. Institutional investors own 88.87% of the company’s stock.
HCP, Inc. (NYSE:HCP) opened at 29.15 on Wednesday. The company’s 50-day moving average price is $31.11 and its 200 day moving average price is $31.27. HCP, Inc. has a 52 week low of $27.61 and a 52 week high of $40.43. The stock has a market capitalization of $13.67 billion, a P/E ratio of 19.87 and a beta of 0.37.
HCP (NYSE:HCP) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. The firm had revenue of $458.90 million for the quarter, compared to analyst estimates of $456.29 million. HCP had a return on equity of 9.96% and a net margin of 32.16%. HCP’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. Equities research analysts expect that HCP, Inc. will post $1.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Monday, August 7th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.08%. The ex-dividend date is Thursday, August 3rd. HCP’s dividend payout ratio (DPR) is presently 102.07%.
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Several research firms have commented on HCP. UBS AG upgraded HCP from an “underperform” rating to an “outperform” rating in a report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) downgraded HCP from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $35.00 to $32.00 in a report on Monday, July 24th. Stifel Nicolaus restated a “hold” rating and set a $31.00 price objective on shares of HCP in a report on Friday, July 14th. BidaskClub upgraded HCP from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Finally, Mizuho restated a “neutral” rating on shares of HCP in a report on Wednesday, June 28th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $33.42.
In related news, insider Thomas Klaritch sold 2,651 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $31.53, for a total value of $83,586.03. Following the transaction, the insider now owns 176,830 shares of the company’s stock, valued at $5,575,449.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.
HCP, Inc is a self-administered real estate investment trust. The Company invests in real estate serving the healthcare industry in the United States. The Company’s segments include senior housing triple-net (SH NNN), senior housing operating portfolio (SHOP), life science and medical office. Its senior housing facilities include independent living facilities, assisted living facilities, memory care facilities, care homes, and continuing care retirement communities.
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