Paloma Partners Management Co Acquires New Holdings in HCP, Inc. (HCP)
Paloma Partners Management Co bought a new position in HCP, Inc. (NYSE:HCP) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 84,114 shares of the real estate investment trust’s stock, valued at approximately $2,172,000.
A number of other hedge funds have also recently modified their holdings of HCP. Piedmont Investment Advisors LLC purchased a new position in HCP in the 2nd quarter worth $142,000. Archford Capital Strategies LLC purchased a new position in HCP in the 1st quarter worth $167,000. Reliance Trust Co. of Delaware purchased a new position in HCP in the 2nd quarter worth $211,000. Atlas Brown Inc. purchased a new position in HCP in the 2nd quarter worth $226,000. Finally, Private Vista LLC purchased a new position in HCP in the 1st quarter worth $234,000. Institutional investors own 88.29% of the company’s stock.
A number of equities analysts recently issued reports on the company. ValuEngine lowered HCP from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 13th. Robert W. Baird raised their target price on HCP from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, August 9th. Raymond James lowered HCP from an “outperform” rating to a “market perform” rating in a research note on Monday, May 21st. Evercore ISI lowered HCP from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $23.02 to $24.00 in a research note on Monday, May 21st. Finally, Morgan Stanley reduced their target price on HCP from $28.00 to $23.50 and set an “equal weight” rating for the company in a research note on Thursday, June 14th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $26.25.
HCP (NYSE:HCP) last announced its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.27). The company had revenue of $469.60 million for the quarter, compared to analyst estimates of $463.94 million. HCP had a return on equity of 1.12% and a net margin of 3.39%. HCP’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. analysts expect that HCP, Inc. will post 1.82 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 21st. Shareholders of record on Wednesday, August 8th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.63%. The ex-dividend date of this dividend was Friday, August 3rd. HCP’s dividend payout ratio is currently 75.90%.
HCP Company Profile
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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