HCP, Inc. (HCP) Holdings Trimmed by Prudential Financial Inc.
Prudential Financial Inc. lessened its holdings in HCP, Inc. (NYSE:HCP) by 26.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 783,466 shares of the real estate investment trust’s stock after selling 275,519 shares during the quarter. Prudential Financial Inc. owned 0.17% of HCP worth $25,040,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Essex Financial Services Inc. acquired a new stake in HCP in the second quarter worth about $350,000. Mastrapasqua Asset Management Inc. boosted its holdings in HCP by 11.3% in the second quarter. Mastrapasqua Asset Management Inc. now owns 12,975 shares of the real estate investment trust’s stock worth $415,000 after acquiring an additional 1,320 shares in the last quarter. Fagan Associates Inc. acquired a new stake in HCP in the second quarter worth about $1,083,000. Intersect Capital LLC boosted its holdings in HCP by 37.9% in the second quarter. Intersect Capital LLC now owns 41,301 shares of the real estate investment trust’s stock worth $1,320,000 after acquiring an additional 11,348 shares in the last quarter. Finally, Aviva PLC boosted its holdings in HCP by 2.6% in the second quarter. Aviva PLC now owns 295,735 shares of the real estate investment trust’s stock worth $9,455,000 after acquiring an additional 7,400 shares in the last quarter. 89.75% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. UBS AG raised HCP from an “underperform” rating to an “outperform” rating in a report on Wednesday, June 14th. Stifel Nicolaus reissued a “hold” rating and issued a $31.00 price target on shares of HCP in a report on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and issued a $32.00 price target on shares of HCP in a report on Friday, May 12th. BidaskClub downgraded HCP from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Mizuho reissued 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, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.70.
HCP, Inc. (NYSE HCP) opened at 30.14 on Monday. HCP, Inc. has a one year low of $27.61 and a one year high of $40.43. The firm has a market capitalization of $14.13 billion, a P/E ratio of 20.55 and a beta of 0.38. The firm has a 50-day moving average price of $30.29 and a 200-day moving average price of $31.15.
HCP (NYSE:HCP) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $458.90 million for the quarter, compared to the consensus estimate of $456.29 million. HCP had a return on equity of 9.96% and a net margin of 32.16%. The firm’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Equities analysts anticipate that HCP, Inc. will post $1.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Monday, August 7th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 4.91%. HCP’s dividend payout ratio is presently 102.07%.
In other HCP 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 sale, the insider now directly owns 176,830 shares of the company’s stock, valued at approximately $5,575,449.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.
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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