Chemical Bank Sells 3,819 Shares of HCP, Inc. (HCP)

Chemical Bank reduced its stake in HCP, Inc. (NYSE:HCP) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,120 shares of the real estate investment trust’s stock after selling 3,819 shares during the period. Chemical Bank’s holdings in HCP were worth $812,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HCP. Cohen & Steers Inc. boosted its position in shares of HCP by 26.6% in the 3rd quarter. Cohen & Steers Inc. now owns 35,762,597 shares of the real estate investment trust’s stock worth $995,273,000 after purchasing an additional 7,524,081 shares during the last quarter. Lasalle Investment Management Securities LLC boosted its position in shares of HCP by 12,329.6% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 6,761,684 shares of the real estate investment trust’s stock worth $176,345,000 after purchasing an additional 6,707,284 shares during the last quarter. Security Capital Research & Management Inc. boosted its position in shares of HCP by 196.4% in the 4th quarter. Security Capital Research & Management Inc. now owns 9,372,788 shares of the real estate investment trust’s stock worth $244,442,000 after purchasing an additional 6,210,806 shares during the last quarter. Brookfield Asset Management Inc. bought a new position in shares of HCP in the 4th quarter worth $150,605,000. Finally, PGGM Investments boosted its position in shares of HCP by 41.2% in the 4th quarter. PGGM Investments now owns 8,013,000 shares of the real estate investment trust’s stock worth $208,979,000 after purchasing an additional 2,336,126 shares during the last quarter. Institutional investors and hedge funds own 88.48% of the company’s stock.

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In other news, insider Kendall K. Young purchased 14,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were purchased at an average price of $21.91 per share, with a total value of $306,740.00. Following the purchase, the insider now directly owns 48,544 shares of the company’s stock, valued at approximately $1,063,599.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.

Several research firms have weighed in on HCP. Bank of America upgraded HCP from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $22.63 to $25.00 in a report on Thursday, March 8th. Jefferies Group reiterated a “hold” rating and set a $26.00 target price on shares of HCP in a report on Tuesday, February 13th. Zacks Investment Research lowered HCP from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. BMO Capital Markets set a $25.00 target price on HCP and gave the stock a “hold” rating in a report on Tuesday, February 13th. Finally, Robert W. Baird set a $24.00 target price on HCP and gave the stock a “hold” rating in a report on Thursday, February 15th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $27.50.

Shares of HCP stock opened at $22.29 on Friday. HCP, Inc. has a 12 month low of $21.48 and a 12 month high of $33.67. The stock has a market capitalization of $10,614.12, a PE ratio of 25.92, a price-to-earnings-growth ratio of 4.17 and a beta of 0.34. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 1.23.

HCP (NYSE:HCP) last released its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. HCP had a return on equity of 6.99% and a net margin of 22.37%. The firm had revenue of $443.30 million for the quarter, compared to the consensus estimate of $448.54 million. During the same quarter last year, the business posted $0.59 EPS. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. equities research analysts forecast that HCP, Inc. will post 1.81 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Thursday, February 15th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 6.64%. The ex-dividend date of this dividend was Wednesday, February 14th. HCP’s dividend payout ratio is 172.09%.

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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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