Rhumbline Advisers Raises Stake in HCP, Inc. (HCP)
Rhumbline Advisers increased its position in HCP, Inc. (NYSE:HCP) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 904,159 shares of the real estate investment trust’s stock after buying an additional 2,721 shares during the period. Rhumbline Advisers’ holdings in HCP were worth $28,897,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Toronto Dominion Bank boosted its stake in shares of HCP by 56.7% in the first quarter. Toronto Dominion Bank now owns 126,366 shares of the real estate investment trust’s stock worth $3,952,000 after buying an additional 45,734 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of HCP by 24.9% in the first quarter. Ameriprise Financial Inc. now owns 742,597 shares of the real estate investment trust’s stock worth $23,230,000 after buying an additional 147,812 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of HCP by 3.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 3,697,204 shares of the real estate investment trust’s stock worth $115,649,000 after buying an additional 108,805 shares during the last quarter. Dubuque Bank & Trust Co. boosted its stake in shares of HCP by 64.3% in the first quarter. Dubuque Bank & Trust Co. now owns 14,533 shares of the real estate investment trust’s stock worth $455,000 after buying an additional 5,685 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of HCP by 9.5% in the first quarter. IFP Advisors Inc now owns 62,990 shares of the real estate investment trust’s stock worth $1,970,000 after buying an additional 5,479 shares during the last quarter. 88.87% of the stock is currently owned by institutional investors.
HCP, Inc. (HCP) opened at 29.80 on Tuesday. HCP, Inc. has a 52-week low of $27.61 and a 52-week high of $40.43. The stock’s 50 day moving average is $31.23 and its 200-day moving average is $31.27. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 20.31 and a beta of 0.37.
HCP (NYSE:HCP) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The firm had revenue of $458.90 million for the quarter, compared to the consensus estimate of $456.29 million. HCP had a net margin of 32.16% and a return on equity of 9.96%. The company’s revenue was down 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.71 EPS. Equities research analysts anticipate that HCP, Inc. will post $1.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Monday, August 7th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.48 annualized dividend and a dividend yield of 4.97%. HCP’s payout ratio is 102.07%.
HCP has been the topic of a number of analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $33.00 target price on shares of HCP in a report on Tuesday, July 25th. Zacks Investment Research cut shares of HCP from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Mitsubishi UFJ Financial Group initiated coverage on shares of HCP in a report on Friday, April 21st. They set a “hold” rating and a $32.00 target price on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $31.00 target price on shares of HCP in a report on Wednesday, July 5th. 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 issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $33.42.
In other news, insider Thomas Klaritch sold 2,651 shares of the firm’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by company 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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