Renaissance Technologies LLC Reduces Position in HCP, Inc. (HCP)

Renaissance Technologies LLC cut its position in shares of HCP, Inc. (NYSE:HCP) by 71.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 598,800 shares of the real estate investment trust’s stock after selling 1,466,131 shares during the quarter. Renaissance Technologies LLC owned about 0.13% of HCP worth $19,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peoples Financial Services CORP. boosted its position in shares of HCP by 4.0% during the second quarter. Peoples Financial Services CORP. now owns 3,250 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 125 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of HCP by 252.5% during the second quarter. Chicago Partners Investment Group LLC now owns 3,525 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 2,525 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in shares of HCP during the second quarter valued at approximately $172,000. Soros Fund Management LLC bought a new stake in shares of HCP during the first quarter valued at approximately $200,000. Finally, Nwam LLC boosted its position in shares of HCP by 6.4% during the second quarter. Nwam LLC now owns 6,804 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 408 shares in the last quarter. Institutional investors own 89.61% of the company’s stock.

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HCP, Inc. (HCP) opened at 26.43 on Friday. The firm’s 50-day moving average price is $28.60 and its 200-day moving average price is $30.63. The stock has a market cap of $12.39 billion, a PE ratio of 18.02 and a beta of 0.38. HCP, Inc. has a 52 week low of $26.26 and a 52 week high of $34.02.

HCP (NYSE:HCP) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $458.90 million for the quarter, compared to analysts’ expectations of $456.29 million. HCP had a return on equity of 9.96% and a net margin of 32.16%. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. Equities analysts predict that HCP, Inc. will post $1.34 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on the company. Stifel Nicolaus restated a “hold” rating and set a $30.00 price target on shares of HCP in a research report on Wednesday, October 4th. Zacks Investment Research lowered HCP from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. BidaskClub lowered HCP from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. UBS AG lowered HCP from a “neutral” rating to a “sell” rating and dropped their price target for the company from $30.00 to $25.00 in a research report on Monday, October 2nd. Finally, Morgan Stanley dropped their price target on HCP from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, September 25th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company’s stock. HCP has an average rating of “Hold” and an average target price of $31.27.

HCP 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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