California Public Employees Retirement System boosted its position in HCP, Inc. (NYSE:HCP) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,209,270 shares of the real estate investment trust’s stock after purchasing an additional 44,822 shares during the period. California Public Employees Retirement System’s holdings in HCP were worth $31,538,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HCP. Cohen & Steers Inc. lifted its position in HCP by 26.6% in the third quarter. Cohen & Steers Inc. now owns 35,762,597 shares of the real estate investment trust’s stock worth $995,273,000 after purchasing an additional 7,524,081 shares during the period. Principal Financial Group Inc. lifted its position in HCP by 475.0% in the third quarter. Principal Financial Group Inc. now owns 4,284,833 shares of the real estate investment trust’s stock worth $119,248,000 after purchasing an additional 3,539,670 shares during the period. PGGM Investments lifted its position in HCP by 41.2% in the fourth quarter. PGGM Investments now owns 8,013,000 shares of the real estate investment trust’s stock worth $208,979,000 after purchasing an additional 2,336,126 shares during the period. Daiwa Securities Group Inc. lifted its position in HCP by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 12,243,041 shares of the real estate investment trust’s stock worth $340,724,000 after purchasing an additional 1,632,319 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in HCP by 44.8% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,451,567 shares of the real estate investment trust’s stock worth $96,057,000 after purchasing an additional 1,068,554 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Shares of HCP, Inc. (NYSE:HCP) opened at $22.68 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.61 and a current ratio of 0.31. HCP, Inc. has a one year low of $21.64 and a one year high of $33.67. The stock has a market cap of $10,463.90, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 4.07 and a beta of 0.27.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 6.53%. The ex-dividend date of this dividend is Wednesday, February 14th. HCP’s dividend payout ratio (DPR) is currently 172.09%.
In other news, insider Kendall K. Young bought 14,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average cost of $21.91 per share, with a total value of $306,740.00. Following the purchase, the insider now directly owns 48,544 shares in the company, valued at $1,063,599.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.22% of the stock is owned by insiders.
A number of equities research analysts have weighed in on HCP shares. BMO Capital Markets set a $25.00 target price on HCP and gave the stock a “hold” rating in a research report on Monday, January 15th. Morgan Stanley restated an “equal weight” rating and issued a $29.00 target price on shares of HCP in a research report on Thursday, December 14th. Stifel Nicolaus upgraded HCP from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday, December 5th. Robert W. Baird cut their price objective on HCP from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, January 5th. Finally, Zacks Investment Research downgraded HCP from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $28.62.
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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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