Bank of New York Mellon Corp cut its stake in HCP, Inc. (NYSE:HCP) by 3.9% in the second quarter, Holdings Channel reports. The fund owned 6,009,008 shares of the real estate investment trust’s stock after selling 240,932 shares during the quarter. Bank of New York Mellon Corp’s holdings in HCP were worth $155,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Advisor Partners LLC raised its holdings in shares of HCP by 20.7% in the second quarter. Advisor Partners LLC now owns 11,864 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 2,038 shares during the last quarter. Amalgamated Bank raised its holdings in shares of HCP by 3.6% in the second quarter. Amalgamated Bank now owns 60,479 shares of the real estate investment trust’s stock valued at $1,562,000 after buying an additional 2,084 shares during the last quarter. Honeywell International Inc. raised its holdings in shares of HCP by 1.4% in the first quarter. Honeywell International Inc. now owns 163,881 shares of the real estate investment trust’s stock valued at $3,807,000 after buying an additional 2,205 shares during the last quarter. Tyers Asset Management LLC raised its holdings in shares of HCP by 2.8% in the first quarter. Tyers Asset Management LLC now owns 85,968 shares of the real estate investment trust’s stock valued at $1,997,000 after buying an additional 2,304 shares during the last quarter. Finally, Spearhead Capital Advisors LLC raised its holdings in shares of HCP by 1.8% in the second quarter. Spearhead Capital Advisors LLC now owns 137,553 shares of the real estate investment trust’s stock valued at $3,552,000 after buying an additional 2,398 shares during the last quarter. 89.37% of the stock is owned by hedge funds and other institutional investors.
Shares of HCP opened at $27.22 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37. HCP, Inc. has a twelve month low of $21.48 and a twelve month high of $30.59. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 4.77 and a beta of 0.30.
HCP (NYSE:HCP) last issued its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.27). HCP had a return on equity of 1.12% and a net margin of 3.39%. The company had revenue of $469.60 million for the quarter, compared to analyst estimates of $463.94 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. equities analysts anticipate that HCP, Inc. will post 1.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 21st. Shareholders of record on Wednesday, August 8th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, August 3rd. This represents a $1.48 annualized dividend and a yield of 5.44%. HCP’s payout ratio is currently 75.90%.
HCP has been the subject of a number of research reports. Capital One Financial initiated coverage on shares of HCP in a report on Tuesday, July 24th. They issued an “equal weight” rating and a $27.50 target price for the company. Evercore ISI cut shares of HCP from an “in-line” rating to an “underperform” rating in a report on Friday, June 1st. Raymond James reaffirmed a “market perform” rating on shares of HCP in a report on Friday, June 1st. Morgan Stanley reduced their target price on shares of HCP from $28.00 to $23.50 and set an “equal weight” rating for the company in a report on Thursday, June 14th. Finally, ValuEngine lowered shares of HCP from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $26.25.
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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