Sumitomo Mitsui Asset Management Company LTD increased its position in shares of HCP, Inc. (NYSE:HCP) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,227 shares of the real estate investment trust’s stock after purchasing an additional 15,045 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in HCP were worth $5,109,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Pacific Center for Financial Services boosted its stake in shares of HCP by 123.5% during the 4th quarter. Pacific Center for Financial Services now owns 894 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 494 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in HCP during the first quarter worth $25,000. Executive Wealth Management LLC acquired a new position in HCP during the fourth quarter worth $30,000. Rational Advisors LLC raised its position in HCP by 336.7% during the fourth quarter. Rational Advisors LLC now owns 1,262 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 973 shares during the period. Finally, Pearl River Capital LLC acquired a new position in HCP during the fourth quarter worth $35,000. 96.95% of the stock is owned by hedge funds and other institutional investors.
HCP stock traded up $0.08 during midday trading on Friday, hitting $31.63. 57,952 shares of the stock were exchanged, compared to its average volume of 2,703,260. HCP, Inc. has a fifty-two week low of $22.49 and a fifty-two week high of $32.23. The stock has a market cap of $14.91 billion, a P/E ratio of 17.40, a PEG ratio of 6.79 and a beta of 0.43. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Monday, May 6th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.68%. The ex-dividend date is Friday, May 3rd. HCP’s dividend payout ratio (DPR) is presently 81.32%.
A number of equities analysts have weighed in on HCP shares. TheStreet upgraded shares of HCP from a “c” rating to a “b-” rating in a research report on Wednesday, February 13th. BMO Capital Markets restated a “buy” rating and set a $33.00 price objective on shares of HCP in a research report on Wednesday, February 13th. Morgan Stanley set a $32.00 price objective on shares of HCP and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, Zacks Investment Research upgraded shares of HCP from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $28.95.
In other HCP news, Director Christine Garvey sold 3,405 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $29.80, for a total transaction of $101,469.00. Following the completion of the transaction, the director now owns 5,348 shares of the company’s stock, valued at $159,370.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.
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HCP, Inc is a fully integrated real estate investment trust (REIT) that invests in real estate serving the healthcare industry in the United States. HCP owns a large-scale portfolio primarily diversified across life science, medical office and senior housing. Recognized as a global leader in sustainability, HCP has been a publicly-traded company since 1985 and was the first healthcare REIT selected to the S&P 500 index.
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