US Bancorp DE Lowers Position in HCP, Inc. (HCP)
US Bancorp DE lowered its stake in shares of HCP, Inc. (NYSE:HCP) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 42,084 shares of the real estate investment trust’s stock after selling 278 shares during the period. US Bancorp DE’s holdings in HCP were worth $1,345,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Peoples Financial Services CORP. boosted its stake in shares of HCP by 4.0% in the second quarter. Peoples Financial Services CORP. now owns 3,250 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 125 shares in the last quarter. Founders Capital Management bought a new stake in shares of HCP during the first quarter valued at about $106,000. Advisory Services Network LLC bought a new stake in shares of HCP during the first quarter valued at about $114,000. Nwam LLC bought a new stake in shares of HCP during the first quarter valued at about $200,000. Finally, Soros Fund Management LLC bought a new stake in shares of HCP during the first quarter valued at about $200,000. 89.13% of the stock is owned by institutional investors.
Shares of HCP, Inc. (NYSE:HCP) traded down 1.21% during trading on Monday, reaching $29.49. 1,368,419 shares of the company’s stock were exchanged. The company has a 50 day moving average of $32.01 and a 200 day moving average of $31.31. The firm has a market capitalization of $13.83 billion, a P/E ratio of 20.10 and a beta of 0.37. HCP, Inc. has a 52-week low of $27.61 and a 52-week high of $40.43.
HCP (NYSE:HCP) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. HCP had a net margin of 32.16% and a return on equity of 9.96%. The business had revenue of $458.90 million for the quarter, compared to analyst estimates of $456.29 million. During the same period last year, the business posted $0.71 EPS. HCP’s revenue was down 14.8% compared to the same quarter last year. Equities analysts anticipate that HCP, Inc. will post $1.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Monday, August 7th will be given a $0.37 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.48 annualized dividend and a yield of 4.96%. HCP’s dividend payout ratio is 102.07%.
HCP has been the subject of several research reports. BidaskClub raised shares of HCP from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Jefferies Group LLC reissued a “hold” rating and set a $32.00 price objective on shares of HCP in a research note on Friday, May 12th. Mitsubishi UFJ Financial Group initiated coverage on shares of HCP in a research note on Friday, April 21st. They set a “hold” rating and a $32.00 price objective for the company. Stifel Nicolaus reissued a “hold” rating and set a $31.00 price objective on shares of HCP in a research note on Friday, July 14th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $31.00 price objective on shares of HCP in a research note on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $33.42.
In other HCP news, insider Thomas Klaritch sold 2,651 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $31.53, for a total value of $83,586.03. Following the sale, the insider now directly owns 176,830 shares in the company, valued at approximately $5,575,449.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.
HCP Company Profile
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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