HCP, Inc. (HCP) Insider Thomas Klaritch Sells 2,651 Shares
HCP, Inc. (NYSE:HCP) insider Thomas Klaritch sold 2,651 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.53, for a total transaction of $83,586.03. Following the transaction, the insider now directly owns 176,830 shares in the company, valued at $5,575,449.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
HCP, Inc. (HCP) traded up 0.98% during trading on Wednesday, reaching $31.97. 5,060,416 shares of the company’s stock were exchanged. HCP, Inc. has a 12-month low of $27.61 and a 12-month high of $40.43. The company has a market cap of $14.98 billion, a P/E ratio of 15.41 and a beta of 0.42. The stock’s 50-day moving average is $31.24 and its 200-day moving average is $30.76.
HCP (NYSE:HCP) last issued its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. HCP had a return on equity of 12.39% and a net margin of 41.38%. The firm had revenue of $492.16 million for the quarter, compared to analyst estimates of $514.82 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. HCP’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts predict that HCP, Inc. will post $1.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 23rd. Shareholders of record on Monday, May 8th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Thursday, May 4th. HCP’s payout ratio is presently 72.20%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in HCP. Vanguard Group Inc. increased its position in shares of HCP by 2.4% in the first quarter. Vanguard Group Inc. now owns 67,505,742 shares of the real estate investment trust’s stock worth $2,111,579,000 after buying an additional 1,557,716 shares during the last quarter. BlackRock Inc. increased its position in shares of HCP by 1,680.5% in the first quarter. BlackRock Inc. now owns 45,980,843 shares of the real estate investment trust’s stock worth $1,438,282,000 after buying an additional 43,398,323 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of HCP by 22.9% in the first quarter. JPMorgan Chase & Co. now owns 22,920,793 shares of the real estate investment trust’s stock worth $716,963,000 after buying an additional 4,264,935 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of HCP by 19.0% in the first quarter. Bank of New York Mellon Corp now owns 13,164,759 shares of the real estate investment trust’s stock worth $411,794,000 after buying an additional 2,100,896 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of HCP by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,348,782 shares of the real estate investment trust’s stock worth $198,587,000 after buying an additional 97,085 shares during the last quarter. 88.94% of the stock is owned by institutional investors.
HCP has been the topic of several research reports. Evercore ISI raised shares of HCP from an “underperform” rating to an “in-line” rating in a research report on Monday, March 27th. They noted that the move was a valuation call. Bank of America Corp raised shares of HCP from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $33.25 to $35.00 in a research report on Monday, April 3rd. Morgan Stanley raised shares of HCP from an “underweight” rating to an “equal weight” rating and set a $31.00 price objective on the stock in a research report on Monday, March 20th. Mizuho lowered shares of HCP from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $34.00 to $32.00 in a research report on Tuesday, April 11th. Finally, Robert W. Baird initiated coverage on shares of HCP in a research report on Friday, March 10th. They issued a “neutral” rating and a $32.00 price objective on the stock. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. HCP presently has an average rating of “Hold” and an average target price of $33.18.
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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