HCP, Inc. (HCP) Shares Sold by Texas Permanent School Fund
Texas Permanent School Fund lessened its stake in HCP, Inc. (NYSE:HCP) by 3.2% in the first quarter, Holdings Channel reports. The institutional investor owned 92,948 shares of the real estate investment trust’s stock after selling 3,092 shares during the quarter. Texas Permanent School Fund’s holdings in HCP were worth $2,909,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Pacific Center for Financial Services increased its stake in HCP by 123.5% during the fourth quarter. Pacific Center for Financial Services now owns 894 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 494 shares during the last quarter. Massey Quick Simon & CO. LLC bought a new position in shares of HCP during the first quarter worth about $25,000. Executive Wealth Management LLC bought a new position in shares of HCP during the fourth quarter worth about $30,000. Rational Advisors LLC grew its position in shares of HCP by 336.7% during the fourth quarter. Rational Advisors LLC now owns 1,262 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 973 shares during the last quarter. Finally, Pearl River Capital LLC bought a new position in shares of HCP during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 96.95% of the company’s stock.
Several equities analysts have recently commented on HCP shares. Morgan Stanley set a $32.00 price target on shares of HCP and gave the stock a “hold” rating in a research report on Thursday, March 28th. BMO Capital Markets restated a “buy” rating and set a $33.00 price target on shares of HCP in a research report on Wednesday, February 13th. TheStreet lowered shares of HCP from a “b-” rating to a “c+” rating in a research report on Tuesday, May 7th. Finally, Zacks Investment Research upgraded shares of HCP from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $28.95.
HCP stock traded up $0.73 during trading on Thursday, hitting $31.61. The company had a trading volume of 856,383 shares, compared to its average volume of 3,116,735. The company has a market capitalization of $14.79 billion, a P/E ratio of 17.37, a PEG ratio of 6.73 and a beta of 0.43. HCP, Inc. has a fifty-two week low of $22.49 and a fifty-two week high of $32.23. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.90.
HCP (NYSE:HCP) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $436.15 million during the quarter, compared to the consensus estimate of $442.20 million. HCP had a net margin of 59.96% and a return on equity of 18.05%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. Equities analysts anticipate that HCP, Inc. will post 1.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Monday, May 6th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, May 3rd. HCP’s payout ratio is currently 81.32%.
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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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