Northern Trust Corp Reduces Holdings in HCP, Inc. (HCP)

Northern Trust Corp reduced its position in HCP, Inc. (NYSE:HCP) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,868,095 shares of the real estate investment trust’s stock after selling 17,517 shares during the quarter. Northern Trust Corp owned approximately 1.67% of HCP worth $203,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Security Capital Research & Management Inc. grew its position in HCP by 20.2% in the 2nd quarter. Security Capital Research & Management Inc. now owns 12,680,529 shares of the real estate investment trust’s stock valued at $327,411,000 after acquiring an additional 2,129,250 shares in the last quarter. Brookfield Asset Management Inc. grew its position in HCP by 32.3% in the 1st quarter. Brookfield Asset Management Inc. now owns 7,641,262 shares of the real estate investment trust’s stock valued at $177,507,000 after acquiring an additional 1,866,537 shares in the last quarter. Dimensional Fund Advisors LP grew its position in HCP by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,178,265 shares of the real estate investment trust’s stock valued at $185,341,000 after acquiring an additional 100,296 shares in the last quarter. Resolution Capital Ltd grew its position in HCP by 118.1% in the 2nd quarter. Resolution Capital Ltd now owns 6,481,980 shares of the real estate investment trust’s stock valued at $167,365,000 after acquiring an additional 3,509,889 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in HCP by 22.8% in the 1st quarter. Nuveen Asset Management LLC now owns 5,791,986 shares of the real estate investment trust’s stock valued at $134,548,000 after acquiring an additional 1,075,964 shares in the last quarter. 88.26% of the stock is owned by institutional investors.

Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on HCP from $23.50 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, August 16th. Bank of America lifted their target price on HCP from $27.50 to $28.00 and gave the company a “buy” rating in a research report on Monday, September 17th. Stifel Nicolaus set a $28.00 price objective on HCP and gave the stock a “buy” rating in a research report on Friday, August 3rd. Cantor Fitzgerald assumed coverage on HCP in a research report on Tuesday, August 7th. They set a “neutral” rating and a $28.00 price objective for the company. Finally, Capital One Financial reissued an “equal weight” rating on shares of HCP in a research report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $26.46.

Shares of HCP stock opened at $25.56 on Thursday. HCP, Inc. has a one year low of $21.48 and a one year high of $27.98. The stock has a market cap of $12.17 billion, a PE ratio of 13.56, a P/E/G ratio of 6.50 and a beta of 0.28. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51.

HCP (NYSE:HCP) last announced its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.27). HCP had a return on equity of 1.12% and a net margin of 3.39%. The company had revenue of $469.60 million for the quarter, compared to analyst estimates of $463.94 million. During the same period in the prior year, the firm posted $0.48 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. sell-side analysts predict that HCP, Inc. will post 1.82 earnings per share for the current year.

HCP Company Profile

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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Institutional Ownership by Quarter for HCP (NYSE:HCP)

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