Smith Salley & Associates lessened its position in HCP, Inc. (NYSE:HCP) by 6.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 112,003 shares of the real estate investment trust’s stock after selling 7,368 shares during the period. Smith Salley & Associates’ holdings in HCP were worth $2,948,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. grew its stake in HCP by 2.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 89,768 shares of the real estate investment trust’s stock valued at $2,363,000 after acquiring an additional 1,883 shares during the period. Stephens Inc. AR grew its stake in HCP by 5.1% in the second quarter. Stephens Inc. AR now owns 40,944 shares of the real estate investment trust’s stock valued at $1,057,000 after acquiring an additional 1,993 shares during the period. Advisor Partners LLC grew its stake in HCP by 20.7% in the second quarter. Advisor Partners LLC now owns 11,864 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 2,038 shares during the period. Amalgamated Bank grew its stake in HCP by 3.6% in the second quarter. Amalgamated Bank now owns 60,479 shares of the real estate investment trust’s stock valued at $1,562,000 after acquiring an additional 2,084 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in HCP by 0.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 725,114 shares of the real estate investment trust’s stock valued at $19,085,000 after acquiring an additional 2,094 shares during the period. 87.64% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:HCP opened at $28.82 on Friday. The company has a market cap of $13.50 billion, a P/E ratio of 14.78, a P/E/G ratio of 7.21 and a beta of 0.16. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.48 and a current ratio of 0.48. HCP, Inc. has a 12-month low of $21.48 and a 12-month high of $28.92.
HCP (NYSE:HCP) last posted its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.10. HCP had a return on equity of 3.06% and a net margin of 9.16%. The business had revenue of $456.00 million for the quarter, compared to analysts’ expectations of $456.59 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The business’s revenue was up .4% on a year-over-year basis. As a group, research analysts predict that HCP, Inc. will post 1.82 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Monday, November 5th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $1.48 annualized dividend and a yield of 5.14%. HCP’s dividend payout ratio is currently 75.90%.
Several research analysts recently issued reports on HCP shares. Royal Bank of Canada raised HCP from a “sector perform” rating to an “outperform” rating in a research report on Friday, November 2nd. Cantor Fitzgerald lifted their target price on HCP from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, November 1st. BMO Capital Markets reaffirmed a “hold” rating and set a $27.00 target price on shares of HCP in a research report on Wednesday, October 31st. JPMorgan Chase & Co. cut HCP from an “overweight” rating to a “neutral” rating in a research report on Friday, October 5th. Finally, Bank of America lifted their target price on HCP from $27.50 to $28.00 and gave the company a “buy” rating in a research report on Monday, September 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. HCP presently has a consensus rating of “Hold” and an average target price of $26.75.
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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