Brasada Capital Management LP raised its stake in HCP, Inc. (NYSE:HCP) by 36.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,812 shares of the real estate investment trust’s stock after acquiring an additional 11,479 shares during the quarter. Brasada Capital Management LP’s holdings in HCP were worth $1,525,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Hartford Investment Management Co. increased its position in HCP by 0.5% in the 3rd quarter. Hartford Investment Management Co. now owns 53,354 shares of the real estate investment trust’s stock valued at $1,901,000 after acquiring an additional 282 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of HCP by 18.6% in the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 1,882 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 295 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of HCP by 29.9% in the 3rd quarter. Parallel Advisors LLC now owns 1,364 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 314 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of HCP by 3.9% in the 2nd quarter. Wetherby Asset Management Inc. now owns 8,918 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 331 shares during the last quarter. Finally, We Are One Seven LLC boosted its stake in shares of HCP by 1.4% in the 3rd quarter. We Are One Seven LLC now owns 25,042 shares of the real estate investment trust’s stock valued at $892,000 after purchasing an additional 345 shares during the last quarter. Hedge funds and other institutional investors own 95.80% of the company’s stock.
In related news, COO Thomas Klaritch sold 35,014 shares of HCP stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $36.02, for a total transaction of $1,261,204.28. Following the transaction, the chief operating officer now owns 230,529 shares of the company’s stock, valued at approximately $8,303,654.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.
Several brokerages have recently issued reports on HCP. Zacks Investment Research raised shares of HCP from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Monday, October 14th. KeyCorp raised their target price on shares of HCP from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Scotiabank set a $38.00 target price on shares of HCP and gave the company a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. raised shares of HCP from a “neutral” rating to an “overweight” rating and raised their target price for the company from $35.00 to $38.00 in a research note on Tuesday, October 8th. Finally, Morgan Stanley raised their target price on shares of HCP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 17th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $36.78.
HCP stock opened at $34.53 on Friday. The company’s 50 day simple moving average is $36.24 and its 200 day simple moving average is $33.42. HCP, Inc. has a fifty-two week low of $26.58 and a fifty-two week high of $37.93. The firm has a market capitalization of $17.57 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 6.81 and a beta of 0.22. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.81.
HCP (NYSE:HCP) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.52). HCP had a return on equity of 12.78% and a net margin of 43.66%. The firm had revenue of $538.00 million for the quarter, compared to the consensus estimate of $503.65 million. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. As a group, analysts predict that HCP, Inc. will post 1.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Monday, November 4th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Friday, November 1st. HCP’s payout ratio is 81.32%.
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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