Ellington Management Group LLC purchased a new stake in shares of HCP, Inc. (NYSE:HCP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,900 shares of the real estate investment trust’s stock, valued at approximately $232,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. grew its holdings in shares of HCP by 1.9% during the 3rd quarter. D.A. Davidson & CO. now owns 104,554 shares of the real estate investment trust’s stock worth $2,909,000 after acquiring an additional 1,915 shares during the period. ARGI Investment Services LLC grew its holdings in shares of HCP by 7.9% during the 3rd quarter. ARGI Investment Services LLC now owns 27,246 shares of the real estate investment trust’s stock worth $758,000 after acquiring an additional 1,998 shares during the period. BerganKDV Wealth Management LLC grew its holdings in shares of HCP by 4.2% during the 4th quarter. BerganKDV Wealth Management LLC now owns 51,797 shares of the real estate investment trust’s stock worth $1,351,000 after acquiring an additional 2,110 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of HCP by 2.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 114,540 shares of the real estate investment trust’s stock worth $3,201,000 after acquiring an additional 2,300 shares during the period. Finally, Norinchukin Bank The grew its holdings in shares of HCP by 7.4% during the 3rd quarter. Norinchukin Bank The now owns 34,907 shares of the real estate investment trust’s stock worth $971,000 after acquiring an additional 2,390 shares during the period. 88.48% of the stock is owned by institutional investors and hedge funds.
Shares of HCP, Inc. (NYSE:HCP) opened at $23.07 on Tuesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $10,886.39, a P/E ratio of 11.89, a P/E/G ratio of 4.25 and a beta of 0.34. HCP, Inc. has a 52 week low of $21.48 and a 52 week high of $33.67.
HCP (NYSE:HCP) last posted its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $443.30 million for the quarter, compared to the consensus estimate of $448.54 million. HCP had a return on equity of 6.99% and a net margin of 22.37%. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. analysts forecast that HCP, Inc. will post 1.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Thursday, February 15th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.48 annualized dividend and a dividend yield of 6.42%. HCP’s payout ratio is currently 172.09%.
In related news, insider Kendall K. Young purchased 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were bought at an average price of $21.91 per share, for a total transaction of $306,740.00. Following the purchase, the insider now directly owns 48,544 shares of the company’s stock, valued at approximately $1,063,599.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.
A number of research firms have weighed in on HCP. Bank of America upgraded HCP from a “neutral” rating to a “buy” rating and upped their target price for the stock from $22.63 to $25.00 in a report on Thursday, March 8th. BMO Capital Markets set a $25.00 target price on HCP and gave the stock a “hold” rating in a report on Tuesday, February 13th. Mizuho set a $26.00 target price on HCP and gave the stock a “buy” rating in a report on Thursday, February 15th. Robert W. Baird set a $24.00 target price on HCP and gave the stock a “hold” rating in a report on Thursday, February 15th. Finally, ValuEngine downgraded HCP from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $27.54.
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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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