Louisiana State Employees Retirement System decreased its stake in HCP Inc. (NYSE:HCP) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 30,600 shares of the real estate investment trust’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in HCP were worth $1,083,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in HCP. Callahan Advisors LLC bought a new stake in HCP during the second quarter valued at about $208,000. MSI Financial Services Inc increased its stake in HCP by 9.5% in the second quarter. MSI Financial Services Inc now owns 43,189 shares of the real estate investment trust’s stock valued at $1,528,000 after buying an additional 3,752 shares during the period. Daiwa Securities Group Inc. increased its stake in HCP by 8.0% in the second quarter. Daiwa Securities Group Inc. now owns 16,604,480 shares of the real estate investment trust’s stock valued at $587,467,000 after buying an additional 1,223,911 shares during the period. Oakbrook Investments LLC increased its stake in HCP by 18.7% in the second quarter. Oakbrook Investments LLC now owns 31,131 shares of the real estate investment trust’s stock valued at $1,101,000 after buying an additional 4,900 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in HCP by 3.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 28,742 shares of the real estate investment trust’s stock valued at $1,017,000 after buying an additional 916 shares during the period. Institutional investors own 90.96% of the company’s stock.
HCP Inc. (NYSE:HCP) traded down 1.53% during midday trading on Friday, reaching $37.95. The company had a trading volume of 4,186,165 shares. HCP Inc. has a one year low of $25.11 and a one year high of $40.43. The stock’s 50 day moving average is $38.84 and its 200 day moving average is $35.92. The company’s market capitalization is $17.74 billion.
HCP (NYSE:HCP) last posted its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. HCP had a negative return on equity of 0.67% and a negative net margin of 2.52%. The business earned $662.20 million during the quarter, compared to analysts’ expectations of $631.25 million. During the same quarter last year, the company posted $0.79 earnings per share. HCP’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts forecast that HCP Inc. will post $2.83 earnings per share for the current fiscal year.
Several research firms have recently issued reports on HCP. Zacks Investment Research downgraded HCP from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. Argus reiterated a “hold” rating on shares of HCP in a research note on Sunday, September 18th. Wells Fargo & Co. reiterated a “hold” rating on shares of HCP in a research note on Sunday, September 4th. BTIG Research assumed coverage on HCP in a research report on Thursday, August 25th. They set a “neutral” rating for the company. Finally, Citigroup Inc. boosted their price objective on HCP from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 24th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.93.
In other news, insider Thomas D. Kirby sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $40.24, for a total transaction of $120,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan M. Bergschneider sold 7,651 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $39.78, for a total value of $304,356.78. Following the sale, the executive vice president now owns 54,095 shares of the company’s stock, valued at approximately $2,151,899.10. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
HCP, Inc (HCP) is a self-administered real estate investment trust (REIT). The Company invests in real estate serving the healthcare industry in the United States. Its portfolio consists of investments in various healthcare segments: senior housing, post-acute/skilled nursing, life science, medical office and hospital.
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