MetLife Investment Advisors LLC trimmed its position in shares of HCP, Inc. (NYSE:HCP) by 0.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 135,811 shares of the real estate investment trust’s stock after selling 730 shares during the period. MetLife Investment Advisors LLC’s holdings in HCP were worth $4,251,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the business. Vanguard Group Inc raised its holdings in HCP by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 75,247,949 shares of the real estate investment trust’s stock worth $1,980,527,000 after acquiring an additional 196,049 shares during the period. BlackRock Inc. raised its holdings in HCP by 1.3% in the 1st quarter. BlackRock Inc. now owns 46,737,345 shares of the real estate investment trust’s stock worth $1,462,881,000 after acquiring an additional 591,173 shares during the period. Cohen & Steers Inc. increased its holdings in shares of HCP by 35.0% during the 4th quarter. Cohen & Steers Inc. now owns 22,898,362 shares of the real estate investment trust’s stock worth $639,551,000 after purchasing an additional 5,935,752 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of HCP by 73.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,036,864 shares of the real estate investment trust’s stock worth $392,050,000 after purchasing an additional 5,960,734 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of HCP by 5.4% during the 1st quarter. JPMorgan Chase & Co. now owns 11,420,161 shares of the real estate investment trust’s stock worth $357,451,000 after purchasing an additional 581,291 shares during the period. 95.47% of the stock is owned by institutional investors.
In related news, Director Christine Garvey sold 3,405 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $29.80, for a total value of $101,469.00. Following the transaction, the director now directly owns 5,348 shares in the company, valued at $159,370.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.
HCP (NYSE:HCP) last announced its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. HCP had a net margin of 59.96% and a return on equity of 18.05%. The company had revenue of $436.15 million for the quarter, compared to analyst estimates of $442.20 million. During the same period in the prior year, the business earned $0.48 earnings per share. HCP’s quarterly revenue was down 9.0% on a year-over-year basis. As a group, sell-side analysts predict that HCP, Inc. will post 1.74 EPS for the current year.
Several research firms have recently issued reports on HCP. KeyCorp downgraded shares of GTT Communications from an “overweight” rating to a “sector weight” rating in a report on Monday, July 1st. Morgan Stanley set a $111.00 price objective on shares of Procter & Gamble and gave the stock a “buy” rating in a report on Thursday, March 28th. TheStreet raised shares of Rent-A-Center from a “c” rating to a “b-” rating in a research note on Tuesday, May 7th. Finally, Raymond James initiated coverage on shares of Adverum Biotechnologies in a research note on Thursday, June 13th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $30.41.
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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