Beacon Investment Advisory Services Inc. Decreases Position in HCP, Inc. (HCP)
Beacon Investment Advisory Services Inc. decreased its stake in shares of HCP, Inc. (NYSE:HCP) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,872 shares of the real estate investment trust’s stock after selling 460 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in HCP were worth $284,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Bank of Montreal Can raised its position in shares of HCP by 0.9% in the first quarter. Bank of Montreal Can now owns 372,934 shares of the real estate investment trust’s stock valued at $11,665,000 after buying an additional 3,258 shares in the last quarter. Atria Investments LLC raised its position in shares of HCP by 11.2% in the first quarter. Atria Investments LLC now owns 12,300 shares of the real estate investment trust’s stock valued at $385,000 after buying an additional 1,236 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of HCP during the first quarter valued at approximately $497,000. SFE Investment Counsel raised its position in shares of HCP by 9.6% in the first quarter. SFE Investment Counsel now owns 231,253 shares of the real estate investment trust’s stock valued at $7,234,000 after buying an additional 20,300 shares in the last quarter. Finally, DnB Asset Management AS raised its position in shares of HCP by 18.6% in the first quarter. DnB Asset Management AS now owns 50,366 shares of the real estate investment trust’s stock valued at $1,575,000 after buying an additional 7,900 shares in the last quarter. Hedge funds and other institutional investors own 88.87% of the company’s stock.
Shares of HCP, Inc. (NYSE HCP) traded down 0.03% during midday trading on Thursday, reaching $29.33. The company’s stock had a trading volume of 208,582 shares. The company has a market cap of $13.75 billion, a P/E ratio of 19.99 and a beta of 0.37. The stock’s 50-day moving average price is $31.02 and its 200-day moving average price is $31.25. HCP, Inc. has a 12-month low of $27.61 and a 12-month high of $40.43.
HCP (NYSE:HCP) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. HCP had a return on equity of 9.96% and a net margin of 32.16%. The firm had revenue of $458.90 million for the quarter, compared to analysts’ expectations of $456.29 million. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s revenue for the quarter was down 14.8% compared to the same quarter last year. On average, analysts expect that HCP, Inc. will post $1.36 EPS for the current fiscal year.
The company 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 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Thursday, August 3rd. HCP’s payout ratio is currently 102.07%.
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HCP has been the topic of several research reports. Mitsubishi UFJ Financial Group initiated coverage on HCP in a research note on Friday, April 21st. They set a “hold” rating and a $32.00 price target on the stock. Evercore ISI lowered HCP from an “in-line” rating to an “underperform” rating in a research note on Monday, April 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $32.00 target price on shares of HCP in a research note on Friday, May 12th. UBS AG upgraded HCP from an “underperform” rating to an “outperform” rating in a research note on Wednesday, June 14th. Finally, Raymond James Financial, Inc. upgraded HCP from an “underperform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research note on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s 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 HCP 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 in the company, valued at $5,575,449.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is currently owned by company insiders.
HCP Company Profile
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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