Investment Centers of America Inc. Reduces Stake in HCP, Inc. (HCP)

Investment Centers of America Inc. lowered its stake in shares of HCP, Inc. (NYSE:HCP) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,957 shares of the real estate investment trust’s stock after selling 678 shares during the period. Investment Centers of America Inc.’s holdings in HCP were worth $969,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Founders Capital Management purchased a new position in shares of HCP during the first quarter valued at about $106,000. Advisory Services Network LLC purchased a new position in shares of HCP during the first quarter valued at about $114,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of HCP during the fourth quarter valued at about $114,000. Nwam LLC purchased a new position in shares of HCP during the first quarter valued at about $200,000. Finally, Soros Fund Management LLC purchased a new position in shares of HCP during the first quarter valued at about $200,000. 88.35% of the stock is owned by hedge funds and other institutional investors.

Shares of HCP, Inc. (NYSE HCP) traded down 0.60% during midday trading on Tuesday, hitting $33.18. 303,090 shares of the stock traded hands. The company has a market capitalization of $15.55 billion, a price-to-earnings ratio of 16.00 and a beta of 0.42. The firm’s 50-day moving average is $31.37 and its 200 day moving average is $30.88. HCP, Inc. has a 52 week low of $27.61 and a 52 week high of $40.43.

HCP (NYSE:HCP) last issued its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $492.16 million during the quarter, compared to analyst estimates of $514.82 million. HCP had a net margin of 41.38% and a return on equity of 12.39%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.69 EPS. Equities analysts forecast that HCP, Inc. will post $1.36 earnings per share for the current year.

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Several brokerages recently issued reports on HCP. BidaskClub raised shares of HCP from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Raymond James Financial, Inc. raised shares of HCP from an “underperform” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Wednesday, June 14th. Jefferies Group LLC reissued a “hold” rating and set a $32.00 price target on shares of HCP in a report on Friday, May 12th. Mitsubishi UFJ Financial Group began coverage on shares of HCP in a report on Friday, April 21st. They set a “hold” rating and a $32.00 price target for the company. Finally, Evercore ISI downgraded shares of HCP from an “in-line” rating to an “underperform” rating in a report on Monday, April 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $33.18.

In related news, insider Thomas Klaritch sold 2,651 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were 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 owns 176,830 shares in the company, valued at approximately $5,575,449.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.22% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for HCP (NYSE:HCP)

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