Tokio Marine Asset Management Co. Ltd. Has $509,000 Position in HCP Inc. (HCP)
Tokio Marine Asset Management Co. Ltd. reduced its stake in shares of HCP Inc. (NYSE:HCP) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 14,391 shares of the real estate investment trust’s stock after selling 826 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in HCP were worth $509,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of HCP. Iowa State Bank purchased a new stake in HCP during the second quarter worth $145,000. Checchi Capital Advisers LLC boosted its stake in HCP by 3.9% in the second quarter. Checchi Capital Advisers LLC now owns 5,288 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 200 shares in the last quarter. Benin Management CORP purchased a new stake in HCP during the second quarter worth $203,000. Capital City Trust Co. FL purchased a new stake in HCP during the second quarter worth $204,000. Finally, Neville Rodie & Shaw Inc. purchased a new stake in HCP during the second quarter worth $205,000. 90.96% of the stock is owned by institutional investors and hedge funds.
Shares of HCP Inc. (NYSE:HCP) traded down 0.11% on Friday, hitting $35.91. The company had a trading volume of 2,707,135 shares. The company has a 50 day moving average of $38.42 and a 200-day moving average of $36.06. HCP Inc. has a 12-month low of $25.11 and a 12-month high of $40.43. The company’s market cap is $16.79 billion.
HCP (NYSE:HCP) last announced its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. HCP had a negative return on equity of 0.67% and a negative net margin of 2.52%. The firm had revenue of $662.20 million for the quarter, compared to analysts’ expectations of $631.25 million. During the same quarter in the previous year, the company earned $0.79 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts forecast that HCP Inc. will post $2.82 earnings per share for the current year.
HCP has been the topic of a number of research reports. BTIG Research initiated coverage on HCP in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Zacks Investment Research cut HCP from a “buy” rating to a “hold” rating in a report on Monday, September 26th. Wells Fargo & Co. restated a “hold” rating on shares of HCP in a report on Sunday, September 4th. Mizuho restated a “hold” rating and issued a $32.00 price target on shares of HCP in a report on Tuesday, July 12th. Finally, Bank of America Corp. upgraded HCP from an “underperform” rating to a “neutral” rating and set a $38.50 price target on the stock in a report on Tuesday, October 4th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $34.61.
In related news, EVP Jonathan M. Bergschneider sold 7,651 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $39.78, for a total transaction of $304,356.78. Following the sale, the executive vice president now owns 54,095 shares of the company’s stock, valued at $2,151,899.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Darren A. Kowalske sold 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $39.20, for a total value of $88,200.00. Following the sale, the insider now directly owns 9,793 shares in the company, valued at approximately $383,885.60. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
HCP, Inc (HCP) is a self-administered real estate investment trust (REIT). The Company invests in real estate serving the healthcare industry in the United States. Its portfolio consists of investments in various healthcare segments: senior housing, post-acute/skilled nursing, life science, medical office and hospital.
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