Bank of New York Mellon Corp cut its position in shares of HCP, Inc. (NYSE:HCP) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,019,654 shares of the real estate investment trust’s stock after selling 145,105 shares during the period. Bank of New York Mellon Corp owned 2.78% of HCP worth $416,109,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of HCP by 1,680.5% in the first quarter. BlackRock Inc. now owns 45,980,843 shares of the real estate investment trust’s stock worth $1,438,282,000 after buying an additional 43,398,323 shares in the last quarter. JPMorgan Chase & Co. increased its stake in HCP by 22.9% in the first quarter. JPMorgan Chase & Co. now owns 22,920,793 shares of the real estate investment trust’s stock valued at $716,963,000 after buying an additional 4,264,935 shares during the period. Vanguard Group Inc. increased its stake in HCP by 2.4% in the first quarter. Vanguard Group Inc. now owns 67,505,742 shares of the real estate investment trust’s stock valued at $2,111,579,000 after buying an additional 1,557,716 shares during the period. Morgan Stanley increased its stake in HCP by 108.0% in the first quarter. Morgan Stanley now owns 2,873,563 shares of the real estate investment trust’s stock valued at $89,886,000 after buying an additional 1,492,099 shares during the period. Finally, Capital Fund Management S.A. increased its stake in HCP by 509.6% in the first quarter. Capital Fund Management S.A. now owns 1,316,338 shares of the real estate investment trust’s stock valued at $41,175,000 after buying an additional 1,100,408 shares during the period. 88.87% of the stock is currently owned by hedge funds and other institutional investors.
HCP, Inc. (NYSE:HCP) opened at 29.34 on Thursday. HCP, Inc. has a 1-year low of $27.61 and a 1-year high of $40.43. The company has a 50-day moving average of $31.02 and a 200-day moving average of $31.25. The company has a market capitalization of $13.76 billion, a P/E ratio of 20.00 and a beta of 0.37.
HCP (NYSE:HCP) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. The firm had revenue of $458.90 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS. Equities analysts expect that HCP, Inc. will post $1.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Monday, August 7th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 5.04%. HCP’s payout ratio is 102.07%.
Several research analysts have recently weighed in on the company. BidaskClub lowered HCP from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Zacks Investment Research lowered HCP from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $31.00 target price on shares of HCP in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) lowered HCP from a “buy” rating to a “neutral” rating and decreased their target price for the company from $35.00 to $32.00 in a research report on Monday, July 24th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $31.00 target price on shares of HCP in a research report 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 given a buy rating to the company. HCP currently has an average rating of “Hold” and an average target price of $33.42.
In related news, insider Thomas Klaritch sold 2,651 shares of the stock in a transaction 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 of the company’s stock, valued at $5,575,449.90. The sale was disclosed in a legal 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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