Municipal Employees Retirement System of Michigan continued to hold its stake in shares of HCP, Inc. (NYSE:HCP) during the second quarter, according to its most recent filing with the SEC. The firm owned 15,060 shares of the real estate investment trust’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in HCP were worth $481,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of HCP. 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. Founders Capital Management acquired a new stake in shares of HCP during the first quarter valued at about $106,000. Advisory Services Network LLC acquired a new stake in shares of HCP during the first quarter valued at about $114,000. Nwam LLC acquired a new stake in shares of HCP during the first quarter valued at about $200,000. Finally, Soros Fund Management LLC acquired a new stake in shares of HCP during the first quarter valued at about $200,000. 88.87% of the stock is currently owned by institutional investors.
Shares of HCP, Inc. (HCP) opened at 28.95 on Wednesday. The company has a market cap of $13.58 billion, a PE ratio of 19.73 and a beta of 0.37. The company has a 50 day moving average of $30.75 and a 200 day moving average of $31.24. HCP, Inc. has a 1-year low of $27.61 and a 1-year high of $40.43.
HCP (NYSE:HCP) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. HCP had a net margin of 32.16% and a return on equity of 9.96%. The business had revenue of $458.90 million for the quarter, compared to analyst estimates of $456.29 million. During the same quarter in the prior year, the business earned $0.71 EPS. HCP’s quarterly revenue was down 14.8% on a year-over-year basis. Equities analysts expect that HCP, Inc. will post $1.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Monday, August 7th were paid a $0.37 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 5.11%. HCP’s dividend payout ratio (DPR) is currently 102.07%.
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Several equities research analysts have recently issued reports on HCP shares. BidaskClub raised HCP from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $32.00 price target on shares of HCP in a research report on Friday, May 12th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 price target on shares of HCP in a research report on Tuesday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $31.00 price target on shares of HCP in a research report on Wednesday, July 5th. Finally, Mizuho reaffirmed a “neutral” rating on shares of HCP in a research report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. HCP has a consensus rating of “Hold” and a consensus target price of $33.36.
In related news, insider Thomas Klaritch sold 2,651 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.53, for a total value of $83,586.03. Following the transaction, the insider now owns 176,830 shares in the company, valued at approximately $5,575,449.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.22% of the stock is currently owned by corporate insiders.
HCP Company Profile
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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