BlackRock Advisors LLC cut its stake in shares of HCP Inc. (NYSE:HCP) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 418,160 shares of the real estate investment trust’s stock after selling 2,872 shares during the period. BlackRock Advisors LLC owned approximately 0.09% of HCP worth $14,794,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&R Capital Management Inc. increased its position in HCP by 19.3% in the second quarter. M&R Capital Management Inc. now owns 8,535 shares of the real estate investment trust’s stock valued at $301,000 after buying an additional 1,380 shares in the last quarter. Westbourne Investment Advisors Inc. purchased a new position in HCP during the second quarter valued at about $142,000. Virginia Retirement Systems ET AL purchased a new position in HCP during the second quarter valued at about $6,024,000. Mizuho Asset Management Co. Ltd. increased its position in HCP by 100.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,447 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 3,231 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in HCP by 2.5% in the second quarter. Vanguard Group Inc. now owns 64,880,191 shares of the real estate investment trust’s stock valued at $2,295,461,000 after buying an additional 1,578,634 shares in the last quarter. 90.96% of the stock is owned by institutional investors.
HCP Inc. (NYSE:HCP) opened at 37.95 on Monday. The company’s market capitalization is $17.74 billion. The company has a 50 day moving average price of $38.84 and a 200-day moving average price of $35.92. HCP Inc. has a one year low of $25.11 and a one year high of $40.43.
HCP (NYSE:HCP) last released its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $662.20 million for the quarter, compared to analyst estimates of $631.25 million. During the same period in the previous year, the company posted $0.79 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. Analysts expect that HCP Inc. will post $2.83 EPS 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 reaffirmed a “hold” rating on shares of HCP in a research note on Sunday, September 18th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of HCP in a research note on Sunday, September 4th. BTIG Research began coverage on HCP in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Finally, Citigroup Inc. upped their price objective on HCP from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 24th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.93.
In other HCP news, insider Thomas D. Kirby sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $40.24, for a total value of $120,720.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Darren A. Kowalske sold 2,250 shares of the business’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $39.20, for a total value of $88,200.00. Following the completion of the sale, the insider now directly owns 9,793 shares in the company, valued at $383,885.60. 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.
Receive News & Ratings for HCP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HCP Inc. and related companies with MarketBeat.com's FREE daily email newsletter.