Pictet Asset Management Ltd. Sells 1,200 Shares of HCP, Inc. (HCP)
Pictet Asset Management Ltd. reduced its position in shares of HCP, Inc. (NYSE:HCP) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 255,652 shares of the real estate investment trust’s stock after selling 1,200 shares during the period. Pictet Asset Management Ltd.’s holdings in HCP were worth $8,012,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in HCP. National Pension Service boosted its position in shares of HCP by 9.6% in the first quarter. National Pension Service now owns 459,399 shares of the real estate investment trust’s stock worth $14,237,000 after buying an additional 40,194 shares during the last quarter. Bank of Montreal Can boosted 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 worth $11,665,000 after buying an additional 3,258 shares during the last quarter. Atria Investments LLC boosted 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 worth $385,000 after buying an additional 1,236 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of HCP during the first quarter worth approximately $497,000. Finally, Washington Trust Bank boosted its position in shares of HCP by 166.6% in the first quarter. Washington Trust Bank now owns 12,773 shares of the real estate investment trust’s stock worth $400,000 after buying an additional 7,982 shares during the last quarter. 88.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of HCP, Inc. (NYSE:HCP) opened at 29.15 on Wednesday. HCP, Inc. has a 12 month low of $27.61 and a 12 month high of $40.43. The stock has a market capitalization of $13.67 billion, a price-to-earnings ratio of 19.87 and a beta of 0.37. The firm’s 50 day moving average is $31.11 and its 200 day moving average is $31.27.
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 analysts’ consensus estimates 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 was down 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. On average, equities analysts predict that HCP, Inc. will post $1.36 earnings per share 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 dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.08%. 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 a number of recent research reports. Mitsubishi UFJ Financial Group initiated coverage on shares of HCP in a report on Friday, April 21st. They issued a “hold” rating and a $32.00 target price on the stock. Evercore ISI cut shares of HCP from an “in-line” rating to an “underperform” rating in a report on Monday, April 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $32.00 target price on shares of HCP in a report on Friday, May 12th. UBS AG raised shares of HCP from an “underperform” rating to an “outperform” rating in a report on Wednesday, June 14th. Finally, Raymond James Financial, Inc. raised shares of HCP from an “underperform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Wednesday, June 14th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $33.42.
In related news, insider Thomas Klaritch sold 2,651 shares of HCP stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.53, for a total transaction of $83,586.03. Following the transaction, the insider now directly owns 176,830 shares of the company’s stock, valued at $5,575,449.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by 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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