Pzena Investment Management LLC Takes $764,000 Position in HCP, Inc. (HCP)
Pzena Investment Management LLC purchased a new stake in shares of HCP, Inc. (NYSE:HCP) in the second quarter, according to its most recent filing with the SEC. The firm purchased 29,591 shares of the real estate investment trust’s stock, valued at approximately $764,000.
Several other hedge funds also recently bought and sold shares of HCP. Centersquare Investment Management LLC acquired a new stake in shares of HCP during the 1st quarter valued at approximately $176,082,000. Resolution Capital Ltd lifted its position in shares of HCP by 118.1% during the 2nd quarter. Resolution Capital Ltd now owns 6,481,980 shares of the real estate investment trust’s stock valued at $167,365,000 after acquiring an additional 3,509,889 shares during the period. Brookfield Asset Management Inc. lifted its position in shares of HCP by 32.3% during the 1st quarter. Brookfield Asset Management Inc. now owns 7,641,262 shares of the real estate investment trust’s stock valued at $177,507,000 after acquiring an additional 1,866,537 shares during the period. Russell Investments Group Ltd. lifted its position in shares of HCP by 108.6% during the 1st quarter. Russell Investments Group Ltd. now owns 2,762,845 shares of the real estate investment trust’s stock valued at $64,203,000 after acquiring an additional 1,438,692 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of HCP by 157.8% during the 1st quarter. Prudential Financial Inc. now owns 2,115,486 shares of the real estate investment trust’s stock valued at $49,143,000 after acquiring an additional 1,294,900 shares during the period. Institutional investors own 89.41% of the company’s stock.
Shares of HCP stock opened at $25.98 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. HCP, Inc. has a 1 year low of $21.48 and a 1 year high of $30.59. The company has a market cap of $12.26 billion, a P/E ratio of 13.32, a P/E/G ratio of 4.79 and a beta of 0.30.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 21st. Investors of record on Wednesday, August 8th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, August 3rd. This represents a $1.48 annualized dividend and a dividend yield of 5.70%. HCP’s dividend payout ratio is currently 75.90%.
A number of equities research analysts have recently issued reports on HCP shares. Evercore ISI downgraded shares of HCP from an “in-line” rating to an “underperform” rating in a research report on Friday, June 1st. Raymond James reiterated a “market perform” rating on shares of HCP in a research report on Friday, June 1st. Morgan Stanley reduced their price target on shares of HCP from $28.00 to $23.50 and set an “equal weight” rating for the company in a research report on Thursday, June 14th. ValuEngine downgraded shares of HCP from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. Finally, Capital One Financial reiterated an “equal weight” rating on shares of HCP in a research report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. HCP presently has an average rating of “Hold” and a consensus target price of $25.93.
In related news, Director R Kent Griffin, Jr. acquired 21,100 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The stock was purchased at an average cost of $23.80 per share, for a total transaction of $502,180.00. Following the transaction, the director now directly owns 30,575 shares of the company’s stock, valued at approximately $727,685. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.
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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