Manning & Napier Advisors LLC lessened its stake in HCP, Inc. (NYSE:HCP) by 33.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 154,695 shares of the real estate investment trust’s stock after selling 77,685 shares during the quarter. Manning & Napier Advisors LLC’s holdings in HCP were worth $4,304,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sowell Financial Services LLC boosted its holdings in HCP by 9.7% in the 3rd quarter. Sowell Financial Services LLC now owns 97,103 shares of the real estate investment trust’s stock worth $2,527,000 after acquiring an additional 8,617 shares during the period. Advisors Management Group Inc. ADV boosted its holdings in HCP by 2.2% in the 3rd quarter. Advisors Management Group Inc. ADV now owns 100,727 shares of the real estate investment trust’s stock worth $2,803,000 after acquiring an additional 2,159 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new position in HCP in the 3rd quarter worth approximately $1,799,000. Russell Investments Group Ltd. boosted its holdings in HCP by 10.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,529,862 shares of the real estate investment trust’s stock worth $70,415,000 after acquiring an additional 229,638 shares during the period. Finally, Comerica Bank boosted its holdings in HCP by 4.6% in the 3rd quarter. Comerica Bank now owns 140,178 shares of the real estate investment trust’s stock worth $3,589,000 after acquiring an additional 6,174 shares during the period. Hedge funds and other institutional investors own 87.49% of the company’s stock.
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A number of equities analysts have weighed in on HCP shares. Mizuho upgraded HCP from a “neutral” rating to a “buy” rating and set a $32.00 price target for the company in a report on Thursday, November 2nd. Morgan Stanley decreased their price target on HCP from $31.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, September 25th. BMO Capital Markets restated a “hold” rating and issued a $28.00 price target on shares of HCP in a report on Wednesday, October 18th. KeyCorp restated a “hold” rating on shares of HCP in a report on Tuesday, October 17th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $30.00 price target on shares of HCP in a report on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $30.91.
Shares of HCP, Inc. (NYSE HCP) traded down $0.04 during midday trading on Monday, reaching $26.80. The company’s stock had a trading volume of 2,769,700 shares, compared to its average volume of 3,716,566. HCP, Inc. has a 1 year low of $25.08 and a 1 year high of $33.67. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market capitalization of $12,570.00, a price-to-earnings ratio of 13.01, a PEG ratio of 2.86 and a beta of 0.31.
HCP (NYSE:HCP) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The company had revenue of $454.00 million for the quarter, compared to analyst estimates of $440.60 million. HCP had a return on equity of 8.85% and a net margin of 27.31%. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. equities research analysts predict that HCP, Inc. will post 1.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Monday, November 6th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend is Friday, November 3rd. HCP’s dividend payout ratio (DPR) is 264.29%.
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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