HCP, Inc. (NYSE:HCP) Position Cut by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in shares of HCP, Inc. (NYSE:HCP) by 7.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,357 shares of the real estate investment trust’s stock after selling 11,271 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in HCP were worth $4,390,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Toronto Dominion Bank increased its stake in shares of HCP by 56.7% in the first quarter. Toronto Dominion Bank now owns 126,366 shares of the real estate investment trust’s stock valued at $3,952,000 after buying an additional 45,734 shares during the period. Ameriprise Financial Inc. increased its stake in shares of HCP by 24.9% in the first quarter. Ameriprise Financial Inc. now owns 742,597 shares of the real estate investment trust’s stock valued at $23,230,000 after buying an additional 147,812 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of HCP by 3.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 3,697,204 shares of the real estate investment trust’s stock valued at $115,649,000 after buying an additional 108,805 shares during the period. Dubuque Bank & Trust Co. increased its stake in shares of HCP by 64.3% in the first quarter. Dubuque Bank & Trust Co. now owns 14,533 shares of the real estate investment trust’s stock valued at $455,000 after buying an additional 5,685 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of HCP by 9.5% in the first quarter. IFP Advisors Inc now owns 62,990 shares of the real estate investment trust’s stock valued at $1,970,000 after buying an additional 5,479 shares during the period. Institutional investors and hedge funds own 89.13% of the company’s stock.
HCP, Inc. (NYSE HCP) opened at 29.27 on Friday. HCP, Inc. has a one year low of $27.61 and a one year high of $36.82. The stock’s 50 day moving average is $31.34 and its 200 day moving average is $31.25. The company has a market capitalization of $13.73 billion, a PE ratio of 19.95 and a beta of 0.37.
HCP (NYSE:HCP) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. The company had revenue of $458.90 million for the quarter, compared to analysts’ expectations of $456.29 million. HCP had a net margin of 32.16% and a return on equity of 9.96%. HCP’s revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. On average, analysts anticipate that HCP, Inc. will post $1.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Monday, August 7th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend is Thursday, August 3rd. HCP’s payout ratio is currently 102.07%.
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Several equities research analysts recently issued reports on HCP shares. Jefferies Group LLC reiterated a “hold” rating and issued a $33.00 target price on shares of HCP in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of HCP from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Mitsubishi UFJ Financial Group started coverage on shares of HCP in a research note on Friday, April 21st. They issued a “hold” rating and a $32.00 target price for the company. Royal Bank Of Canada reiterated a “hold” rating and issued a $31.00 target price on shares of HCP in a research note on Wednesday, July 5th. Finally, Raymond James Financial, Inc. upgraded shares of HCP from an “underperform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. HCP presently has an average rating of “Hold” and a consensus target price of $33.42.
In related news, insider Thomas Klaritch sold 2,651 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.53, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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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