Bridgewater Associates LP purchased a new position in shares of HCP, Inc. (NYSE:HCP) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,308 shares of the real estate investment trust’s stock, valued at approximately $666,000.
Several other hedge funds have also modified their holdings of the company. Candriam Luxembourg S.C.A. grew its stake in shares of HCP by 4.0% during the third quarter. Candriam Luxembourg S.C.A. now owns 45,900 shares of the real estate investment trust’s stock worth $1,208,000 after acquiring an additional 1,770 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of HCP by 2.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 89,768 shares of the real estate investment trust’s stock worth $2,363,000 after acquiring an additional 1,883 shares during the last quarter. Stephens Inc. AR grew its stake in shares of HCP by 5.1% during the second quarter. Stephens Inc. AR now owns 40,944 shares of the real estate investment trust’s stock worth $1,057,000 after acquiring an additional 1,993 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of HCP by 0.3% during the third quarter. State Board of Administration of Florida Retirement System now owns 725,114 shares of the real estate investment trust’s stock worth $19,085,000 after acquiring an additional 2,094 shares during the last quarter. Finally, Commonwealth Bank of Australia grew its stake in shares of HCP by 3.3% during the third quarter. Commonwealth Bank of Australia now owns 68,327 shares of the real estate investment trust’s stock worth $1,793,000 after acquiring an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 90.00% of the company’s stock.
A number of equities research analysts recently commented on the company. Robert W. Baird upped their target price on HCP from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, August 9th. Zacks Investment Research reiterated a “sell” rating on shares of HCP in a research report on Tuesday, November 13th. Morgan Stanley upped their target price on HCP from $23.50 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, August 16th. Mizuho reiterated a “buy” rating and issued a $29.00 target price on shares of HCP in a research report on Monday, August 13th. Finally, Cantor Fitzgerald upped their target price on HCP from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, November 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.75.
Shares of NYSE HCP opened at $29.08 on Thursday. The company has a market capitalization of $13.67 billion, a P/E ratio of 15.55, a PEG ratio of 7.33 and a beta of 0.23. HCP, Inc. has a 52 week low of $21.48 and a 52 week high of $29.77. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.48 and a current ratio of 0.48.
HCP (NYSE:HCP) last announced its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.10. HCP had a return on equity of 3.06% and a net margin of 9.16%. The company had revenue of $456.00 million during the quarter, compared to the consensus estimate of $456.59 million. During the same period in the previous year, the company posted $0.48 earnings per share. HCP’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts predict 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 Tuesday, November 20th. Shareholders of record on Monday, November 5th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date was Friday, November 2nd. HCP’s payout ratio is presently 75.90%.
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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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