Retirement Systems of Alabama cut its stake in HCP Inc. (NYSE:HCP) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 238,127 shares of the real estate investment trust’s stock after selling 947 shares during the period. Retirement Systems of Alabama’s holdings in HCP were worth $8,425,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of HCP by 5.4% in the first quarter. Legal & General Group Plc now owns 3,089,375 shares of the real estate investment trust’s stock valued at $100,643,000 after buying an additional 157,036 shares during the last quarter. Heitman Real Estate Securities LLC raised its stake in shares of HCP by 48.1% in the first quarter. Heitman Real Estate Securities LLC now owns 1,681,856 shares of the real estate investment trust’s stock valued at $54,795,000 after buying an additional 545,948 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of HCP by 11.5% in the first quarter. Renaissance Technologies LLC now owns 1,916,700 shares of the real estate investment trust’s stock valued at $62,446,000 after buying an additional 197,800 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of 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 last quarter. Finally, HL Financial Services LLC raised its stake in shares of HCP by 1.5% in the second quarter. HL Financial Services LLC now owns 75,875 shares of the real estate investment trust’s stock valued at $2,684,000 after buying an additional 1,158 shares during the last quarter. 90.96% of the stock is owned by institutional investors.
Shares of HCP Inc. (NYSE:HCP) traded down 0.11% during mid-day trading on Friday, reaching $35.91. 2,707,135 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $38.42 and a 200 day moving average price of $36.06. HCP Inc. has a 52 week low of $25.11 and a 52 week high of $40.43. The stock’s market cap is $16.79 billion.
HCP (NYSE:HCP) last announced its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.74 earnings per share for the quarter, beating 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 business posted $0.79 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts predict that HCP Inc. will post $2.82 EPS for the current year.
Several equities research analysts recently commented on HCP shares. BTIG Research started coverage on shares of HCP in a report on Thursday, August 25th. They issued a “neutral” rating for the company. Zacks Investment Research cut shares of HCP from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of HCP in a research note on Sunday, September 4th. Mizuho reaffirmed a “hold” rating and set a $32.00 target price on shares of HCP in a research note on Tuesday, July 12th. Finally, Bank of America Corp. raised shares of HCP from an “underperform” rating to a “neutral” rating and set a $38.50 target price on the stock in a research note on Tuesday. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.61.
In other news, EVP Jonathan M. Bergschneider sold 7,651 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 54,095 shares in the company, valued at $2,151,899.10. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kendall K. Young sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $39.46, for a total value of $355,140.00. Following the completion of the transaction, the insider now owns 36,183 shares of the company’s stock, valued at approximately $1,427,781.18. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.
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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