Schwab Charles Investment Management Inc. Buys 415,435 Shares of HCP, Inc. (NYSE:HCP)
Schwab Charles Investment Management Inc. increased its stake in HCP, Inc. (NYSE:HCP) by 11.2% during the second quarter, Holdings Channel reports. The fund owned 4,112,639 shares of the real estate investment trust’s stock after buying an additional 415,435 shares during the period. Schwab Charles Investment Management Inc.’s holdings in HCP were worth $131,440,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Peoples Financial Services CORP. increased its position 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 during the last quarter. Founders Capital Management acquired a new position in shares of HCP during the first quarter worth about $106,000. Chicago Partners Investment Group LLC increased its position in shares of HCP by 252.5% in the second quarter. Chicago Partners Investment Group LLC now owns 3,525 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 2,525 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of HCP during the first quarter worth about $114,000. Finally, Nwam LLC acquired a new position in shares of HCP during the first quarter worth about $200,000. 89.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HCP, Inc. (HCP) opened at 29.27 on Friday. The firm’s 50-day moving average price is $31.34 and its 200-day moving average price is $31.25. HCP, Inc. has a one year low of $27.61 and a one year high of $36.82. The company has a market capitalization of $13.73 billion, a price-to-earnings ratio of 19.95 and a beta of 0.37.
HCP (NYSE:HCP) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. HCP had a net margin of 32.16% and a return on equity of 9.96%. The firm had revenue of $458.90 million during the quarter, compared to analyst estimates of $456.29 million. During the same period last year, the business earned $0.71 earnings per share. The business’s revenue was down 14.8% on a year-over-year basis. Analysts anticipate that HCP, Inc. will post $1.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Monday, August 7th will be issued a dividend of $0.37 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.48 annualized dividend and a dividend yield of 5.06%. HCP’s payout ratio is 102.07%.
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A number of research analysts have recently issued reports on HCP shares. BidaskClub downgraded HCP from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Zacks Investment Research downgraded HCP from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Stifel Nicolaus reissued a “hold” rating and issued a $31.00 price objective on shares of HCP in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) downgraded HCP from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $35.00 to $32.00 in a research note on Monday, July 24th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $31.00 price objective on shares of HCP in a research note on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. HCP presently has a consensus rating of “Hold” and an average price target of $33.42.
In related news, insider Thomas Klaritch sold 2,651 shares of the business’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 value of $83,586.03. Following the completion of the transaction, the insider now directly owns 176,830 shares in the company, valued at approximately $5,575,449.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by company insiders.
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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