Texas Permanent School Fund trimmed its position in shares of HCP, Inc. (NYSE:HCP) by 8.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,472 shares of the real estate investment trust’s stock after selling 9,170 shares during the quarter. Texas Permanent School Fund’s holdings in HCP were worth $2,776,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC bought a new stake in HCP during the 2nd quarter valued at approximately $104,000. Piedmont Investment Advisors LLC bought a new stake in HCP during the 2nd quarter valued at approximately $142,000. Peoples Financial Services CORP. boosted its position in HCP by 87.7% during the 3rd quarter. Peoples Financial Services CORP. now owns 6,100 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 2,850 shares in the last quarter. Lourd Capital LLC bought a new stake in HCP during the 3rd quarter valued at approximately $211,000. Finally, First Hawaiian Bank bought a new stake in HCP during the 3rd quarter valued at approximately $215,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of HCP opened at $27.60 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.51 and a debt-to-equity ratio of 1.21. HCP, Inc. has a 52 week low of $21.48 and a 52 week high of $28.18. The company has a market capitalization of $12.94 billion, a PE ratio of 14.15, a P/E/G ratio of 6.93 and a beta of 0.16.
HCP (NYSE:HCP) last issued its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. HCP had a return on equity of 3.06% and a net margin of 9.16%. The firm had revenue of $456.00 million for the quarter, compared to analysts’ expectations of $456.59 million. During the same period in the previous year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, 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 will be paid on Tuesday, November 20th. Stockholders of record on Monday, November 5th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.36%. HCP’s dividend payout ratio is currently 75.90%.
Several analysts have weighed in on HCP shares. Mizuho reaffirmed a “buy” rating and set a $29.00 price objective on shares of HCP in a research report on Monday, August 13th. Bank of America lifted their price objective on HCP from $27.50 to $28.00 and gave the company a “buy” rating in a research report on Monday, September 17th. Stifel Nicolaus set a $28.00 price objective on HCP and gave the company a “buy” rating in a research report on Friday, August 3rd. Capital One Financial started coverage on HCP in a research report on Tuesday, July 24th. They set an “equal weight” rating and a $27.50 price objective on the stock. Finally, Morgan Stanley lifted their price objective on HCP from $23.50 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, August 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. HCP currently has a consensus rating of “Hold” and a consensus price target of $26.75.
HCP, Inc is a fully integrated real estate investment trust (REIT) that invests in real estate serving the healthcare industry in the United States. HCP owns a large-scale portfolio primarily diversified across life science, medical office and senior housing. Recognized as a global leader in sustainability, HCP has been a publicly-traded company since 1985 and was the first healthcare REIT selected to the S&P 500 index.
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