Montecito Bank & Trust Makes New Investment in HCP, Inc. (NYSE:HCP)

Montecito Bank & Trust bought a new position in HCP, Inc. (NYSE:HCP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 58,325 shares of the real estate investment trust’s stock, valued at approximately $1,865,000.

A number of other institutional investors have also recently modified their holdings of HCP. Eii Capital Management Inc. boosted its position in shares of HCP by 11.9% in the second quarter. Eii Capital Management Inc. now owns 67,719 shares of the real estate investment trust’s stock worth $2,166,000 after purchasing an additional 7,175 shares during the period. Pensionfund Sabic boosted its position in shares of HCP by 30.3% in the second quarter. Pensionfund Sabic now owns 43,007 shares of the real estate investment trust’s stock worth $1,375,000 after purchasing an additional 10,000 shares during the period. Pensionfund DSM Netherlands boosted its position in shares of HCP by 12.7% in the second quarter. Pensionfund DSM Netherlands now owns 106,593 shares of the real estate investment trust’s stock worth $3,409,000 after purchasing an additional 12,000 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of HCP by 17.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 555,436 shares of the real estate investment trust’s stock worth $17,384,000 after purchasing an additional 82,719 shares during the period. Finally, Laurel Wealth Advisors Inc. boosted its position in shares of HCP by 12.5% in the first quarter. Laurel Wealth Advisors Inc. now owns 9,200 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 1,022 shares during the period. 95.92% of the stock is owned by institutional investors and hedge funds.

In related 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 transaction of $101,469.00. Following the sale, the director now owns 5,348 shares of the company’s stock, valued at $159,370.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

A number of equities analysts have weighed in on HCP shares. KeyCorp lowered shares of GTT Communications from an “overweight” rating to a “sector weight” rating in a research report on Monday, July 1st. Raymond James started coverage on shares of Adverum Biotechnologies in a report on Thursday, June 13th. They issued a “market perform” rating on the stock. TheStreet raised shares of Rent-A-Center from a “c” rating to a “b-” rating in a report on Tuesday, May 7th. Finally, Morgan Stanley set a $111.00 target price on shares of Procter & Gamble and gave the stock a “buy” rating in a report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $30.41.

HCP stock traded up $0.53 during mid-day trading on Tuesday, reaching $32.16. 1,324,001 shares of the company’s stock traded hands, compared to its average volume of 3,044,135. The stock has a market capitalization of $15.16 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 6.90 and a beta of 0.31. The firm’s 50 day moving average price is $32.21. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.80. HCP, Inc. has a 12-month low of $24.47 and a 12-month high of $33.58.

HCP (NYSE:HCP) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The company had revenue of $436.15 million for the quarter, compared to the consensus estimate of $442.20 million. HCP had a net margin of 59.96% and a return on equity of 18.05%. HCP’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. As a group, sell-side analysts forecast that HCP, Inc. will post 1.74 earnings per share for the current year.

HCP 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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Institutional Ownership by Quarter for HCP (NYSE:HCP)

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