Zevin Asset Management LLC cut its holdings in shares of HCP, Inc. (NYSE:HCP) by 1.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 108,342 shares of the real estate investment trust’s stock after selling 1,979 shares during the quarter. HCP comprises about 1.2% of Zevin Asset Management LLC’s holdings, making the stock its 29th largest position. Zevin Asset Management LLC’s holdings in HCP were worth $3,860,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of HCP. Quest Capital Management Inc. ADV bought a new stake in shares of HCP in the 3rd quarter valued at $28,000. Westside Investment Management Inc. acquired a new stake in shares of HCP in the second quarter valued at approximately $31,000. Bartlett & Co. LLC acquired a new stake in shares of HCP in the third quarter valued at approximately $36,000. NEXT Financial Group Inc increased its stake in shares of HCP by 181.3% in the second quarter. NEXT Financial Group Inc now owns 1,125 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 725 shares during the period. Finally, CSat Investment Advisory L.P. increased its stake in shares of HCP by 77.6% in the second quarter. CSat Investment Advisory L.P. now owns 1,165 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 509 shares during the period. Institutional investors and hedge funds own 95.80% of the company’s stock.
A number of research analysts have recently issued reports on HCP shares. Zacks Investment Research upgraded shares of HCP from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Monday, October 14th. Barclays boosted their price target on shares of HCP from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. KeyCorp boosted their price target on shares of HCP from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. ValuEngine downgraded shares of HCP from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upgraded shares of HCP from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $35.00 to $38.00 in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $36.78.
HCP (NYSE:HCP) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.52). The company had revenue of $538.00 million during the quarter, compared to the consensus estimate of $503.65 million. HCP had a net margin of 43.66% and a return on equity of 12.78%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. Equities analysts forecast that HCP, Inc. will post 1.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Monday, November 4th will be paid a $0.37 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.48 annualized dividend and a dividend yield of 4.40%. HCP’s dividend payout ratio is currently 81.32%.
In other news, COO Thomas Klaritch sold 35,014 shares of HCP stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $36.02, for a total value of $1,261,204.28. Following the completion of the sale, the chief operating officer now owns 230,529 shares in the company, valued at approximately $8,303,654.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.
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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