Cigna Investments Inc. New reduced its stake in shares of HCP, Inc. (NYSE:HCP) by 7.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,038 shares of the real estate investment trust’s stock after selling 1,420 shares during the period. Cigna Investments Inc. New’s holdings in HCP were worth $576,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of HCP. Parkside Financial Bank & Trust increased its stake in shares of HCP by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 7,194 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 54 shares in the last quarter. Cleararc Capital Inc. increased its stake in shares of HCP by 0.7% in the first quarter. Cleararc Capital Inc. now owns 11,441 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 85 shares in the last quarter. Peoples Financial Services CORP. increased its stake in shares of HCP by 4.0% in the second quarter. Peoples Financial Services CORP. now owns 3,250 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 125 shares in the last quarter. Transamerica Financial Advisors Inc. increased its stake in shares of HCP by 0.9% in the first quarter. Transamerica Financial Advisors Inc. now owns 17,030 shares of the real estate investment trust’s stock valued at $533,000 after buying an additional 145 shares in the last quarter. Finally, Atria Investments LLC increased its stake in shares of HCP by 1.2% in the second quarter. Atria Investments LLC now owns 12,447 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 147 shares in the last quarter. Institutional investors own 88.87% of the company’s stock.
HCP, Inc. (NYSE HCP) opened at 29.80 on Tuesday. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 20.31 and a beta of 0.37. HCP, Inc. has a 1-year low of $27.61 and a 1-year high of $40.43. The company has a 50-day moving average of $31.23 and a 200-day moving average of $31.27.
HCP (NYSE:HCP) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The firm had revenue of $458.90 million during the quarter, compared to analysts’ expectations of $456.29 million. HCP had a net margin of 32.16% and a return on equity of 9.96%. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 earnings per share. Analysts anticipate that HCP, Inc. will post $1.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Monday, August 7th will be paid a $0.37 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.97%. HCP’s dividend payout ratio (DPR) is presently 102.07%.
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Several analysts have recently commented on the company. UBS AG upgraded HCP from an “underperform” rating to an “outperform” rating in a research note on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) cut shares of HCP from a “buy” rating to a “neutral” rating and dropped their price target for the company from $35.00 to $32.00 in a research report on Monday, July 24th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $31.00 price target on shares of HCP in a research report on Friday, July 14th. BidaskClub raised shares of HCP from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Mizuho reaffirmed a “neutral” rating on shares of HCP in a research report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company’s stock. HCP presently has a consensus rating of “Hold” and an average price target of $33.42.
In other news, insider Thomas Klaritch sold 2,651 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $31.53, for a total value of $83,586.03. Following the completion of the sale, the insider now directly owns 176,830 shares of the company’s stock, valued at $5,575,449.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.
About HCP
HCP, Inc is a self-administered real estate investment trust. The Company invests in real estate serving the healthcare industry in the United States. The Company’s segments include senior housing triple-net (SH NNN), senior housing operating portfolio (SHOP), life science and medical office. Its senior housing facilities include independent living facilities, assisted living facilities, memory care facilities, care homes, and continuing care retirement communities.
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