Pacad Investment Ltd. Has $1.05 Million Stake in HCP, Inc. (HCP)
Pacad Investment Ltd. boosted its stake in HCP, Inc. (NYSE:HCP) by 37.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,800 shares of the real estate investment trust’s stock after buying an additional 8,900 shares during the period. Pacad Investment Ltd.’s holdings in HCP were worth $1,048,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Peoples Financial Services CORP. increased its stake in shares of 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. Founders Capital Management purchased a new stake in shares of HCP during the first quarter valued at about $106,000. Chicago Partners Investment Group LLC increased its stake in shares of HCP by 252.5% in the second quarter. Chicago Partners Investment Group LLC now owns 3,525 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 2,525 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of HCP during the first quarter valued at about $114,000. Finally, ClariVest Asset Management LLC purchased a new stake in shares of HCP during the second quarter valued at about $172,000. 89.74% of the stock is owned by institutional investors and hedge funds.
HCP, Inc. (NYSE:HCP) opened at 30.14 on Friday. HCP, Inc. has a 52 week low of $27.61 and a 52 week high of $40.43. The company has a 50-day moving average of $30.29 and a 200-day moving average of $31.15. The company has a market cap of $14.13 billion, a P/E ratio of 20.55 and a beta of 0.38.
HCP (NYSE:HCP) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The company had revenue of $458.90 million for the quarter, compared to analyst estimates of $456.29 million. HCP had a net margin of 32.16% and a return on equity of 9.96%. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS. On average, equities research analysts predict that HCP, Inc. will post $1.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 22nd. Shareholders of record on Monday, August 7th were issued a dividend of $0.37 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 4.91%. HCP’s dividend payout ratio (DPR) is presently 102.07%.
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Several brokerages have issued reports on HCP. UBS AG raised shares of HCP from an “underperform” rating to an “outperform” rating in a research note on Wednesday, June 14th. Stifel Nicolaus reissued a “hold” rating and issued a $31.00 price objective on shares of HCP in a research note on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and issued a $32.00 price objective on shares of HCP in a research note on Friday, May 12th. BidaskClub downgraded shares of HCP from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Mizuho reissued a “neutral” rating on shares of HCP in a research note on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $32.70.
In other HCP news, insider Thomas Klaritch sold 2,651 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.53, for a total transaction of $83,586.03. Following the sale, the insider now directly owns 176,830 shares in the company, valued at approximately $5,575,449.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.22% of the stock is owned by corporate insiders.
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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