New Mexico Educational Retirement Board lessened its position in HCP, Inc. (NYSE:HCP) by 58.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 45,077 shares of the real estate investment trust’s stock after selling 62,723 shares during the quarter. New Mexico Educational Retirement Board’s holdings in HCP were worth $1,176,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in HCP. Advisory Services Network LLC raised its position in HCP by 4.1% in the 2nd quarter. Advisory Services Network LLC now owns 3,782 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 150 shares during the last quarter. Fieldpoint Private Securities LLC acquired a new stake in HCP in the 3rd quarter valued at approximately $147,000. Penserra Capital Management LLC acquired a new stake in HCP in the 3rd quarter valued at approximately $163,000. First City Capital Management Inc. acquired a new stake in HCP in the 3rd quarter valued at approximately $212,000. Finally, Smith Shellnut Wilson LLC ADV acquired a new stake in HCP in the 3rd quarter valued at approximately $234,000. 90.78% of the stock is currently owned by institutional investors and hedge funds.
HCP, Inc. (NYSE HCP) opened at $21.80 on Thursday. The firm has a market capitalization of $10,539.01, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 4.10 and a beta of 0.27. HCP, Inc. has a 1 year low of $21.64 and a 1 year high of $33.67. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.31 and a current ratio of 0.31.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, February 14th. This represents a $1.48 annualized dividend and a dividend yield of 6.79%. HCP’s dividend payout ratio is currently 172.09%.
In other HCP news, insider Kendall K. Young bought 14,000 shares of HCP stock in a transaction dated Wednesday, February 14th. The stock was bought at an average cost of $21.91 per share, for a total transaction of $306,740.00. Following the purchase, the insider now owns 48,544 shares of the company’s stock, valued at approximately $1,063,599.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.
A number of equities research analysts recently issued reports on HCP shares. BMO Capital Markets set a $25.00 target price on HCP and gave the company a “hold” rating in a research report on Monday, January 15th. Morgan Stanley reissued an “equal weight” rating and issued a $29.00 target price on shares of HCP in a research report on Thursday, December 14th. Stifel Nicolaus raised HCP from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Tuesday, December 5th. Robert W. Baird lowered their price target on HCP from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, January 5th. Finally, Zacks Investment Research lowered HCP from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. HCP presently has an average rating of “Hold” and an average target price of $28.31.
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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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