Zevin Asset Management LLC grew its stake in shares of HCP, Inc. (NYSE:HCP) by 37.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,396 shares of the real estate investment trust’s stock after buying an additional 34,597 shares during the period. HCP accounts for approximately 1.3% of Zevin Asset Management LLC’s portfolio, making the stock its 28th largest holding. Zevin Asset Management LLC’s holdings in HCP were worth $3,558,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of HCP by 0.3% during the third quarter. Vanguard Group Inc. now owns 75,247,949 shares of the real estate investment trust’s stock valued at $1,980,527,000 after buying an additional 196,049 shares during the period. Vanguard Group Inc grew its holdings in shares of HCP by 0.3% during the third quarter. Vanguard Group Inc now owns 75,247,949 shares of the real estate investment trust’s stock worth $1,980,527,000 after purchasing an additional 196,049 shares in the last quarter. Cohen & Steers Inc. grew its holdings in shares of HCP by 317.6% during the third quarter. Cohen & Steers Inc. now owns 16,962,610 shares of the real estate investment trust’s stock worth $446,456,000 after purchasing an additional 12,900,457 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of HCP by 8,304.8% during the third quarter. Daiwa Securities Group Inc. now owns 8,977,168 shares of the real estate investment trust’s stock worth $236,279,000 after purchasing an additional 8,870,358 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of HCP by 1.2% during the third quarter. Legal & General Group Plc now owns 3,690,653 shares of the real estate investment trust’s stock worth $97,108,000 after purchasing an additional 44,998 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.
Several research analysts have recently commented on the company. Scotiabank assumed coverage on HCP in a report on Monday, December 10th. They set an “outperform” rating and a $32.00 price objective for the company. Zacks Investment Research reissued a “sell” rating on shares of HCP in a report on Tuesday, November 13th. ValuEngine raised HCP from a “hold” rating to a “buy” rating in a report on Monday, November 12th. BMO Capital Markets raised HCP from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $30.00 to $33.00 in a report on Wednesday, January 9th. Finally, Royal Bank of Canada raised HCP from a “sector perform” rating to an “outperform” rating in a report on Friday, November 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $27.39.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Tuesday, February 19th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.74%. The ex-dividend date is Friday, February 15th. HCP’s dividend payout ratio is currently 75.90%.
In other HCP news, COO Thomas Klaritch sold 82,532 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $29.51, for a total value of $2,435,519.32. Following the completion of the sale, the chief operating officer now owns 256,280 shares of the company’s stock, valued at $7,562,822.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.
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HCP, Inc is a fully integrated real estate investment trust (REIT) that invests in real estate serving the healthcare industry in the United States. HCP owns a large-scale portfolio primarily diversified across life science, medical office and senior housing. Recognized as a global leader in sustainability, HCP has been a publicly-traded company since 1985 and was the first healthcare REIT selected to the S&P 500 index.
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