Pictet Asset Management Ltd. boosted its stake in HCP, Inc. (NYSE:HCP) by 111.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 828,250 shares of the real estate investment trust’s stock after acquiring an additional 437,439 shares during the period. Pictet Asset Management Ltd. owned 0.17% of HCP worth $26,487,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in HCP. Unigestion Holding SA boosted its holdings in HCP by 1,639.7% in the second quarter. Unigestion Holding SA now owns 2,016,300 shares of the real estate investment trust’s stock valued at $64,481,000 after acquiring an additional 1,900,400 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in HCP by 35.4% in the second quarter. Bank of New York Mellon Corp now owns 6,767,646 shares of the real estate investment trust’s stock valued at $216,429,000 after acquiring an additional 1,769,116 shares in the last quarter. Commonwealth Bank of Australia boosted its holdings in shares of HCP by 2,313.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,570,166 shares of the real estate investment trust’s stock valued at $50,205,000 after buying an additional 1,505,109 shares in the last quarter. Resolution Capital Ltd boosted its holdings in shares of HCP by 18.9% during the 2nd quarter. Resolution Capital Ltd now owns 8,757,892 shares of the real estate investment trust’s stock valued at $280,077,000 after buying an additional 1,393,502 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its holdings in shares of HCP by 45.5% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 3,795,500 shares of the real estate investment trust’s stock valued at $121,380,000 after buying an additional 1,186,800 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.
A number of brokerages have recently commented on HCP. Argus upgraded shares of HCP from a “hold” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus boosted their target price on shares of HCP from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. They noted that the move was a valuation call. KeyCorp boosted their target price on shares of HCP from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, July 1st. JPMorgan Chase & Co. boosted their target price on shares of HCP from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Raymond James upgraded shares of HCP from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Thursday, June 13th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. HCP has a consensus rating of “Buy” and an average price target of $33.30.
Shares of HCP stock traded down $0.79 during mid-day trading on Friday, reaching $33.82. 124,974 shares of the company’s stock traded hands, compared to its average volume of 2,509,279. HCP, Inc. has a 12 month low of $24.47 and a 12 month high of $36.07. The company has a market cap of $16.87 billion, a P/E ratio of 18.57, a P/E/G ratio of 6.87 and a beta of 0.25. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $33.92 and its 200-day moving average price is $31.96.
HCP (NYSE:HCP) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.46). The firm had revenue of $489.15 million during the quarter, compared to the consensus estimate of $444.67 million. HCP had a return on equity of 15.54% and a net margin of 53.57%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. Equities analysts predict that HCP, Inc. will post 1.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 5th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Friday, August 2nd. HCP’s payout ratio is 81.32%.
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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