Cornerstone Capital Management Holdings LLC. decreased its position in shares of HCP, Inc. (NYSE:HCP) by 20.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 865,838 shares of the real estate investment trust’s stock after selling 228,584 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.18% of HCP worth $24,095,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in HCP. NGAM Advisors L.P. raised its holdings in HCP by 23.1% during the 2nd quarter. NGAM Advisors L.P. now owns 12,699 shares of the real estate investment trust’s stock worth $406,000 after purchasing an additional 2,383 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of HCP by 141.7% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 87,000 shares of the real estate investment trust’s stock worth $2,780,000 after buying an additional 51,000 shares during the period. Korea Investment CORP grew its position in shares of HCP by 2,304.7% during the 2nd quarter. Korea Investment CORP now owns 43,140 shares of the real estate investment trust’s stock worth $1,379,000 after buying an additional 41,346 shares during the period. Retirement Systems of Alabama grew its position in shares of HCP by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 227,190 shares of the real estate investment trust’s stock worth $7,261,000 after buying an additional 879 shares during the period. Finally, Hodges Capital Management Inc. grew its position in shares of HCP by 17.7% during the 2nd quarter. Hodges Capital Management Inc. now owns 9,975 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 1,500 shares during the period. Hedge funds and other institutional investors own 90.19% of the company’s stock.
Shares of HCP, Inc. (HCP) opened at $26.78 on Friday. HCP, Inc. has a 52-week low of $25.08 and a 52-week high of $33.67. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a market cap of $12,558.03, a price-to-earnings ratio of 12.99, a P/E/G ratio of 2.85 and a beta of 0.38.
HCP (NYSE:HCP) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. HCP had a net margin of 27.31% and a return on equity of 8.85%. The business had revenue of $454.00 million during the quarter, compared to the consensus estimate of $440.60 million. During the same quarter last year, the firm posted $0.72 EPS. HCP’s revenue was down 14.4% compared to the same quarter last year. equities analysts forecast that HCP, Inc. will post 1.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 21st. Investors of record on Monday, November 6th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.53%. The ex-dividend date was Friday, November 3rd. HCP’s payout ratio is currently 133.33%.
Several analysts have recently commented on HCP shares. Mizuho raised shares of HCP from a “neutral” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Thursday, November 2nd. Stifel Nicolaus raised shares of HCP from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday. Morgan Stanley reduced their price objective on shares of HCP from $31.00 to $29.00 and set an “equal weight” rating for the company in a research report on Monday, September 25th. Zacks Investment Research raised shares of HCP from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $28.00 price objective on shares of HCP in a research report on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $30.91.
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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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