Teacher Retirement System of Texas acquired a new stake in shares of HCP, Inc. (NYSE:HCP) during the 4th quarter, HoldingsChannel reports. The fund acquired 130,755 shares of the real estate investment trust’s stock, valued at approximately $3,410,000.
Several other institutional investors have also recently made changes to their positions in the company. Cohen & Steers Inc. lifted its holdings in shares of 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 buying an additional 7,524,081 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of HCP by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 13,127,480 shares of the real estate investment trust’s stock worth $365,337,000 after buying an additional 107,826 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of 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 buying an additional 1,632,319 shares in the last quarter. PGGM Investments lifted its holdings in shares of 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 buying an additional 2,336,126 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of HCP by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 6,668,908 shares of the real estate investment trust’s stock worth $185,596,000 after buying an additional 130,892 shares in the last quarter. 90.78% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of HCP from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Morgan Stanley reissued an “equal weight” rating and issued a $29.00 price target on shares of HCP in a report on Thursday, December 14th. Stifel Nicolaus lowered their price target on shares of HCP from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Tuesday, November 7th. JPMorgan Chase & Co. raised shares of HCP from a “neutral” rating to an “overweight” rating and set a $29.00 price target on the stock in a report on Friday, December 15th. Finally, ValuEngine downgraded shares of HCP from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. HCP presently has an average rating of “Hold” and a consensus price target of $28.62.
HCP (NYSE:HCP) last announced its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The business had revenue of $443.30 million for the quarter, compared to the consensus estimate of $448.54 million. HCP had a net margin of 22.37% and a return on equity of 6.99%. HCP’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. equities analysts anticipate that HCP, Inc. will post 1.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Thursday, February 15th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date of this dividend is Wednesday, February 14th. HCP’s dividend payout ratio is currently 172.09%.
In related news, insider Kendall K. Young bought 14,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were acquired at an average cost of $21.91 per share, with a total value of $306,740.00. Following the completion of the purchase, the insider now directly owns 48,544 shares of the company’s stock, valued at approximately $1,063,599.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.22% of the company’s stock.
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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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