Geode Capital Management LLC Boosts Holdings in HCP, Inc. (HCP)
Geode Capital Management LLC raised its stake in HCP, Inc. (NYSE:HCP) by 11.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,752,843 shares of the real estate investment trust’s stock after acquiring an additional 821,285 shares during the period. Geode Capital Management LLC’s holdings in HCP were worth $216,236,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. LeJeune Puetz Investment Counsel LLC raised its stake in HCP by 4.0% during the 4th quarter. LeJeune Puetz Investment Counsel LLC now owns 52,630 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 2,000 shares during the period. Atlas Brown Inc. raised its stake in HCP by 7.6% during the 4th quarter. Atlas Brown Inc. now owns 9,684 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 686 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in HCP by 2.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 70,453 shares of the real estate investment trust’s stock valued at $1,968,000 after purchasing an additional 1,429 shares during the period. Van ECK Associates Corp raised its stake in HCP by 8.7% during the 4th quarter. Van ECK Associates Corp now owns 113,353 shares of the real estate investment trust’s stock valued at $3,166,000 after purchasing an additional 9,117 shares during the period. Finally, California Public Employees Retirement System raised its stake in HCP by 41.9% during the 4th quarter. California Public Employees Retirement System now owns 2,579,695 shares of the real estate investment trust’s stock valued at $72,051,000 after purchasing an additional 761,159 shares during the period. 96.55% of the stock is currently owned by institutional investors.
In other news, Director Christine Garvey sold 3,405 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $29.80, for a total value of $101,469.00. Following the transaction, the director now directly owns 5,348 shares of the company’s stock, valued at $159,370.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.
HCP (NYSE:HCP) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. HCP had a net margin of 59.96% and a return on equity of 18.05%. The business had revenue of $436.15 million for the quarter, compared to the consensus estimate of $442.20 million. During the same period in the prior year, the business posted $0.48 earnings per share. HCP’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, sell-side analysts predict that HCP, Inc. will post 1.73 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Monday, May 6th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Friday, May 3rd. HCP’s dividend payout ratio (DPR) is presently 81.32%.
HCP has been the topic of several recent analyst reports. TheStreet raised shares of HCP from a “c” rating to a “b-” rating in a research note on Wednesday, February 13th. BMO Capital Markets reissued a “buy” rating and set a $33.00 target price on shares of HCP in a research note on Wednesday, February 13th. Morgan Stanley set a $32.00 target price on shares of HCP and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research raised shares of HCP from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. HCP currently has an average rating of “Buy” and a consensus price target of $29.50.
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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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