Pendal Group Ltd lessened its stake in HCP, Inc. (NYSE:HCP) by 1.4% in the first quarter, HoldingsChannel.com reports. The fund owned 157,900 shares of the real estate investment trust’s stock after selling 2,200 shares during the quarter. Pendal Group Ltd’s holdings in HCP were worth $4,942,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan bought a new stake in shares of HCP during the 4th quarter valued at $352,000. LeJeune Puetz Investment Counsel LLC boosted its holdings in shares of HCP by 4.0% in the 4th quarter. LeJeune Puetz Investment Counsel LLC now owns 52,630 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 2,000 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of HCP by 338.2% in the 1st quarter. SG Americas Securities LLC now owns 1,092,194 shares of the real estate investment trust’s stock valued at $34,186,000 after purchasing an additional 842,938 shares in the last quarter. First Hawaiian Bank boosted its holdings in shares of HCP by 21.5% in the 4th quarter. First Hawaiian Bank now owns 9,900 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Jackson Hole Capital Partners LLC acquired a new stake in shares of HCP in the 4th quarter valued at $903,000. Hedge funds and other institutional investors own 95.88% of the company’s stock.
HCP has been the topic of a number of research analyst reports. Robert W. Baird raised HCP from a “neutral” rating to an “outperform” rating in a report on Monday, January 7th. BMO Capital Markets raised HCP from a “market perform” rating to an “outperform” rating and raised their target price for the company from $30.00 to $33.00 in a report on Wednesday, January 9th. TheStreet raised HCP from a “c” rating to a “b-” rating in a report on Wednesday, February 13th. Zacks Investment Research raised HCP from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Finally, Morgan Stanley set a $32.00 price objective on HCP and gave the company a “hold” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.95.
HCP (NYSE:HCP) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. HCP had a return on equity of 18.40% and a net margin of 57.41%. The company had revenue of $436.15 million for the quarter, compared to the consensus estimate of $442.20 million. During the same quarter last year, the business posted $0.48 EPS. HCP’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, research analysts anticipate that HCP, Inc. will post 1.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Monday, May 6th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Friday, May 3rd. HCP’s dividend payout ratio is currently 81.32%.
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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