HCP, Inc. (HCP) Holdings Increased by Allianz Asset Management GmbH
Allianz Asset Management GmbH raised its position in HCP, Inc. (NYSE:HCP) by 9,557.0% in the third quarter, Holdings Channel reports. The fund owned 756,817 shares of the real estate investment trust’s stock after purchasing an additional 748,980 shares during the quarter. Allianz Asset Management GmbH’s holdings in HCP were worth $19,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently made changes to their positions in the business. Candriam Luxembourg S.C.A. lifted its stake in HCP by 4.0% in the third quarter. Candriam Luxembourg S.C.A. now owns 45,900 shares of the real estate investment trust’s stock valued at $1,208,000 after acquiring an additional 1,770 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in HCP by 2.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 89,768 shares of the real estate investment trust’s stock valued at $2,363,000 after acquiring an additional 1,883 shares during the last quarter. Stephens Inc. AR lifted its stake in HCP by 5.1% in the second quarter. Stephens Inc. AR now owns 40,944 shares of the real estate investment trust’s stock valued at $1,057,000 after acquiring an additional 1,993 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in HCP by 0.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 725,114 shares of the real estate investment trust’s stock valued at $19,085,000 after acquiring an additional 2,094 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in HCP by 3.3% in the third quarter. Commonwealth Bank of Australia now owns 68,327 shares of the real estate investment trust’s stock valued at $1,793,000 after acquiring an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 90.00% of the company’s stock.
In other news, COO Thomas Klaritch sold 82,532 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $29.51, for a total transaction of $2,435,519.32. Following the completion of the sale, the chief operating officer now owns 256,280 shares in the company, valued at approximately $7,562,822.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.
HCP (NYSE:HCP) last posted its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. The company had revenue of $456.00 million during the quarter, compared to analysts’ expectations of $456.59 million. HCP had a net margin of 9.16% and a return on equity of 3.06%. HCP’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. As a group, equities research analysts expect that HCP, Inc. will post 1.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Monday, November 5th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend was Friday, November 2nd. HCP’s dividend payout ratio is presently 75.90%.
A number of analysts have commented on HCP shares. JPMorgan Chase & Co. cut shares of HCP from an “overweight” rating to a “neutral” rating in a research note on Friday, October 5th. Cantor Fitzgerald upgraded shares of HCP from a “neutral” rating to an “overweight” rating and increased their price target for the company from $28.00 to $29.00 in a research note on Thursday, September 27th. Royal Bank of Canada upgraded shares of HCP from a “sector perform” rating to an “outperform” rating in a research note on Friday, November 2nd. Bank of America raised their target price on shares of HCP from $27.50 to $28.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. Finally, BMO Capital Markets restated a “hold” rating and set a $27.00 target price on shares of HCP in a research note on Wednesday, October 31st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. HCP currently has an average rating of “Hold” and a consensus price target of $26.75.
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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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