Seaward Management Limited Partnership Cuts Stake in HCP, Inc. (NYSE:HCP)
Seaward Management Limited Partnership decreased its position in HCP, Inc. (NYSE:HCP) by 32.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,374 shares of the real estate investment trust’s stock after selling 3,000 shares during the period. Seaward Management Limited Partnership’s holdings in HCP were worth $203,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Parkside Financial Bank & Trust raised its stake in shares of HCP by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 7,194 shares of the real estate investment trust’s stock worth $230,000 after buying an additional 54 shares during the last quarter. Cleararc Capital Inc. raised its stake in shares of HCP by 0.7% in the first quarter. Cleararc Capital Inc. now owns 11,441 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 85 shares during the last quarter. Peoples Financial Services CORP. raised 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 worth $104,000 after buying an additional 125 shares during the last quarter. Transamerica Financial Advisors Inc. raised its stake in shares of HCP by 0.9% in the first quarter. Transamerica Financial Advisors Inc. now owns 17,030 shares of the real estate investment trust’s stock worth $533,000 after buying an additional 145 shares during the last quarter. Finally, Atria Investments LLC raised its stake in shares of HCP by 1.2% in the second quarter. Atria Investments LLC now owns 12,447 shares of the real estate investment trust’s stock worth $398,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 89.13% of the company’s stock.
HCP, Inc. (NYSE HCP) opened at 29.38 on Thursday. The company has a 50 day moving average price of $31.56 and a 200-day moving average price of $31.27. The company has a market capitalization of $13.78 billion, a P/E ratio of 20.03 and a beta of 0.37. HCP, Inc. has a 52 week low of $27.61 and a 52 week high of $36.82.
HCP (NYSE:HCP) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 EPS for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $456.29 million. During the same period in the prior year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was down 14.8% compared to the same quarter last year. On average, equities analysts anticipate that HCP, Inc. will post $1.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Monday, August 7th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.48 annualized dividend and a yield of 5.04%. HCP’s dividend payout ratio (DPR) is presently 102.07%.
A number of brokerages have commented on HCP. UBS AG upgraded HCP from an “underperform” rating to an “outperform” rating in a research report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) lowered HCP from a “buy” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $32.00 in a report on Monday, July 24th. Stifel Nicolaus reiterated a “hold” rating and set a $31.00 price target on shares of HCP in a report on Friday, July 14th. BidaskClub upgraded HCP from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Finally, Mizuho reiterated a “neutral” rating on shares of HCP in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. The company 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 the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.53, for a total transaction of $83,586.03. Following the completion of the transaction, the insider now directly owns 176,830 shares of the company’s stock, valued at $5,575,449.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.
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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