Geode Capital Management LLC lifted its stake in shares of HCP, Inc. (NYSE:HCP) by 11.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,752,843 shares of the real estate investment trust’s stock after purchasing an additional 821,285 shares during the period. Geode Capital Management LLC owned 1.62% of HCP worth $216,236,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc grew its stake in HCP by 1.2% in the third quarter. Legal & General Group Plc now owns 3,690,653 shares of the real estate investment trust’s stock valued at $97,108,000 after acquiring an additional 44,998 shares during the period. Vanguard Group Inc lifted its holdings in shares of HCP by 0.3% in the third quarter. Vanguard Group Inc now owns 75,247,949 shares of the real estate investment trust’s stock valued at $1,980,527,000 after purchasing an additional 196,049 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of HCP by 19.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 87,273 shares of the real estate investment trust’s stock valued at $2,438,000 after purchasing an additional 14,060 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of HCP by 33.4% in the fourth quarter. Bank of Montreal Can now owns 529,628 shares of the real estate investment trust’s stock valued at $14,792,000 after purchasing an additional 132,508 shares in the last quarter. Finally, NuWave Investment Management LLC lifted its holdings in shares of HCP by 2,669.6% in the fourth quarter. NuWave Investment Management LLC now owns 8,004 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 7,715 shares in the last quarter. Institutional investors own 95.51% of the company’s stock.
In other HCP news, Director Christine Garvey sold 3,405 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $29.80, for a total transaction of $101,469.00. Following the completion of the transaction, the director now owns 5,348 shares of the company’s stock, valued at approximately $159,370.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.
HCP (NYSE:HCP) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. HCP had a return on equity of 18.05% and a net margin of 59.96%. The company had revenue of $436.15 million during the quarter, compared to analyst estimates of $442.20 million. During the same quarter in the previous year, the company posted $0.48 EPS. HCP’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities research analysts predict that HCP, Inc. will post 1.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Monday, May 6th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend was Friday, May 3rd. HCP’s payout ratio is 81.32%.
Several research firms recently commented on HCP. Zacks Investment Research upgraded HCP from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th. Morgan Stanley set a $32.00 target price on HCP and gave the stock a “hold” rating in a research report on Thursday, March 28th. TheStreet cut HCP from a “b-” rating to a “c+” rating in a report on Tuesday, May 7th. Finally, Raymond James upgraded HCP from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. HCP currently has a consensus rating of “Buy” and a consensus target price of $30.05.
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HCP Company 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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