Weiss Multi Strategy Advisers LLC lowered its position in HCP, Inc. (NYSE:HCP) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 525,329 shares of the real estate investment trust’s stock after selling 3,780 shares during the period. HCP makes up approximately 0.7% of Weiss Multi Strategy Advisers LLC’s investment portfolio, making the stock its 28th largest position. Weiss Multi Strategy Advisers LLC’s holdings in HCP were worth $16,432,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. 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 in the last quarter. Norges Bank acquired a new position in shares of HCP during the fourth quarter worth about $136,835,000. 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 in 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 in the last quarter. Finally, 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 in the last quarter. Institutional investors own 88.35% of the company’s stock.
Shares of HCP, Inc. (NYSE HCP) opened at 33.39 on Monday. The firm has a market cap of $15.65 billion, a PE ratio of 16.10 and a beta of 0.42. The company has a 50 day moving average price of $31.37 and a 200 day moving average price of $30.88. HCP, Inc. has a 12-month low of $27.61 and a 12-month high of $40.43.
HCP (NYSE:HCP) last issued its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The company had revenue of $492.16 million during the quarter, compared to the consensus estimate of $514.82 million. HCP had a return on equity of 12.39% and a net margin of 41.38%. HCP’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 EPS. On average, analysts forecast that HCP, Inc. will post $1.36 earnings per share for the current fiscal year.
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HCP has been the topic of a number of recent analyst reports. Evercore ISI upgraded 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 Corporation upgraded HCP from a “neutral” rating to a “buy” rating and increased their price target for the stock from $33.25 to $35.00 in a research report on Monday, April 3rd. Morgan Stanley upgraded HCP from an “underweight” rating to an “equal weight” rating and set a $31.00 price target on the stock in a research report on Monday, March 20th. Mizuho downgraded HCP from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $34.00 to $32.00 in a research report on Tuesday, April 11th. Finally, Robert W. Baird initiated coverage on HCP in a research report on Friday, March 10th. They set a “neutral” rating and a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. HCP presently has an average rating of “Hold” and a consensus price target of $33.18.
In other HCP news, insider Thomas Klaritch sold 2,651 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $31.53, for a total value of $83,586.03. Following the completion of the transaction, the insider now directly owns 176,830 shares in the company, valued at approximately $5,575,449.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.22% of the company’s stock.
HCP Company Profile
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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