First National Trust Co. cut its stake in shares of HCP Inc. (NYSE:HCP) by 5.8% during the second quarter, Holdings Channel reports. The institutional investor owned 21,625 shares of the real estate investment trust’s stock after selling 1,331 shares during the period. First National Trust Co.’s holdings in HCP were worth $765,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in shares of HCP during the first quarter worth about $701,000. Glenmede Trust Co. NA raised its position in shares of HCP by 1.0% in the first quarter. Glenmede Trust Co. NA now owns 43,235 shares of the real estate investment trust’s stock worth $1,407,000 after buying an additional 428 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of HCP by 2.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,793,211 shares of the real estate investment trust’s stock worth $58,423,000 after buying an additional 42,238 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of HCP by 2.7% in the first quarter. Teachers Advisors Inc. now owns 1,311,228 shares of the real estate investment trust’s stock worth $42,720,000 after buying an additional 34,803 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of HCP by 84.2% in the first quarter. Prudential Financial Inc. now owns 2,456,238 shares of the real estate investment trust’s stock worth $80,024,000 after buying an additional 1,123,100 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HCP Inc. (NYSE:HCP) traded down 2.05% during trading on Tuesday, reaching $36.84. 4,279,993 shares of the company were exchanged. HCP Inc. has a one year low of $25.11 and a one year high of $40.43. The stock has a 50-day moving average price of $38.72 and a 200-day moving average price of $36.04. The stock’s market capitalization is $17.23 billion.
HCP (NYSE:HCP) last posted its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. The business had revenue of $662.20 million for the quarter, compared to analyst estimates of $631.25 million. HCP had a negative net margin of 2.52% and a negative return on equity of 0.67%. HCP’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 EPS. Analysts forecast that HCP Inc. will post $2.83 EPS for the current year.
Several analysts recently issued reports on HCP shares. Argus reiterated a “hold” rating on shares of HCP in a research report on Wednesday, June 15th. BTIG Research started coverage on shares of HCP in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Goldman Sachs Group Inc. upgraded shares of HCP from a “sell” rating to a “neutral” rating and increased their price target for the stock from $26.00 to $36.00 in a research report on Friday, July 8th. Jefferies Group reiterated a “neutral” rating on shares of HCP in a research report on Wednesday, July 6th. Finally, Bank of America Corp. upgraded shares of HCP from an “underperform” rating to a “neutral” rating and set a $38.50 price target on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $34.54.
In other news, EVP Jonathan M. Bergschneider sold 7,651 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $39.78, for a total value of $304,356.78. Following the transaction, the executive vice president now owns 54,095 shares of the company’s stock, valued at approximately $2,151,899.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas D. Kirby sold 3,000 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $40.24, for a total transaction of $120,720.00. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.
HCP Company Profile
HCP, Inc (HCP) is a self-administered real estate investment trust (REIT). The Company invests in real estate serving the healthcare industry in the United States. Its portfolio consists of investments in various healthcare segments: senior housing, post-acute/skilled nursing, life science, medical office and hospital.
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